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Suppose you loan someone money with an informal but written agreement. No due date is specified. You know they have since obtained a large sum of money, and could pay you back immediately.

However, they say they owe you nothing and refuse to pay. Is there an efficacious legal avenue available?

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  • What makes this agreement informal if it is written?
    – Greendrake
    Commented Oct 5, 2019 at 18:41
  • The agreement happened through Facebook messenger... no contract was printed and signed.
    – DJG
    Commented Oct 5, 2019 at 18:43
  • How was the agreement phrased? Have the parties ever had similar transactions in the past? Is either of them in the business of making loans?
    – bdb484
    Commented Oct 5, 2019 at 20:23
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    You wonder about due date - more importantly, they say they don't own you anything period.
    – George White
    Commented Oct 5, 2019 at 20:28

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If you have a dispute over values worth not more than $7500, you may sue in Colorado Small Claims Court.

If the value is worth more than $7500, you can also waive the excess value and stay in that court, though you will not be able to collect that excess amount (and no, you can't cheat by breaking it into multiple small claims).

If the dispute value is significantly more than this, or you do not wish to waive, you need a lawyer who is certified and qualified according to the regulations for your state.

If a contract doesn’t specify a time for something to be done, it must be done in a reasonable time.

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  • Does it matter that the borrower is now claiming he doesn't owe the money at all, since he no longer has the intent to repay?
    – Andy
    Commented Oct 6, 2019 at 1:50
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    Small claims court is exactly what answers the question of whether there is a debt or not.
    – user4657
    Commented Oct 6, 2019 at 3:28
  • The limits on a small claims court differ from state to state, and are subject to change. In some US states it is as high as 10,000. In most if not all states one may bring a suit in a non-small-claims court on a pro se bases without a lawyer, although this is often unwise.
    – David Siegel
    Commented Oct 23, 2021 at 17:32

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