IfIloan someone some moneyand they haven’tpaid it back, canI put a lien onthier business?

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IfIloan someone some moneyand they haven’tpaid it back, canI put a lien onthier business?

How would I go about this?

Asked on June 14, 2011 under Bankruptcy Law, Minnesota

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Well that depends on the agreement.  Is it in writing?  Is it a promissory note?  Generally speaking you have to sue some one based upon an agreement to pay back money, then obtain a judgement (after you have proven your case of course) and then execute - or collect - on the judgement.  If the agreement is not in writing it is harder to prove but not impossible. You just hope that the other person does not claim that it was a gift.  Once you have a judgement you can levy against personal property or real property or garnish wages - what ever your state permits.  You may want to consult with an attorney here. Good luck to you.


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