If a family member owes me $10k but has never paid, can I sue for that amount plus interest?
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If a family member owes me $10k but has never paid, can I sue for that amount plus interest?
I let my sister borrow $10k four years ago under the agreement it would be paid back. I have asked her several times to pay and she said she would but never has. Can I sue her for the $10k plus interest?
Asked on February 17, 2012 under Bankruptcy Law, Wisconsin
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
An agreement to repay a loan is a contract. It may be enforced, as per its terms, so if it included interest at the time the agreement was made, the borrower would have to pay interest. In WI, it may be sued on for up to 6 years after it is breached--that is, you can bring a lawsuit to enforce it for up to six years after the time your sister first failed to repay the money. Obviously, it is easier to prove and enforce written agreements than oral ones--with an oral one, it often comes down to one person's word against another's.
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