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Jackpot winner
Old 06-22-2008, 04:55 PM   #1
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Jackpot winner

My buddy just learned that an aunt of his just won $250,000 on a progressive slot machine. (it was published in the local newspaper)

Over 20 years ago, my buddy's mom lent the jackpot winner $25,000.00 and never received ANY form of repayment. The only proof the lender has is a copy of the check with the words "personal loan" on the memo line of the check. Unfortunately, the two sisters (lender & borrower) have not spoken in many years and currently are not on speaking terms.

Does the lender have any legal recourse this many years later?

I read this forum almost daily and thought this wise group could offer some insightful opinions.

Thanks everyone!!
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Old 06-22-2008, 06:57 PM   #2
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It might be worth discussing with an attorney, but unless there was some form of provable agreement about when the loan was to be repaid I doubt there's any way to enforce it.

Is it worth deepening the family rift to recover a loan made 20 years ago?
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Old 06-22-2008, 07:17 PM   #3
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Odds are the statute of limitations for collection of a debt has long expired.
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Old 06-22-2008, 08:44 PM   #4
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Odds are the statute of limitations for collection of a debt has long expired.
Not necessarily. I would consult local law on debt collection. In some jurisdictions, you can revive debts and keep them alive for decades.
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Old 06-22-2008, 09:08 PM   #5
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Not necessarily. I would consult local law on debt collection. In some jurisdictions, you can revive debts and keep them alive for decades.
But is there any actual proof of a debt. Doesn't sound like it to me.
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Old 06-23-2008, 01:53 AM   #6
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Regardless of the actual legal standing. I think it is worth a shot to try and collect.

Make a copy of the check and send a congratulation on her fortunate, and say that you hope to resolve this matter without involving lawyers, but if no payment is forth coming. Now that she has the funds to pay you back, the lawyers will definitely be called and you will be asking for interest!
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