I loaned $7k to a friend without an agreement. I can prove that I withdrew the money from my bank. I know it was used to pay a tax bill. I h...

Question

I loaned $7k to a friend without an agreement. I can prove that I withdrew the money from my bank. I know it was used to pay a tax bill. I have individuals I spoke to about this who will act as witnesses. I have tried to collect this by talking to the individual, without any results. Since small claims limit in KY is $2500, can I file one complaint, and later file additional complaints to recover all of the 7k?

Answer

Basically, you are trying to enforce a contract. This was a verbal contract which has a five (5) year statute of limitations so, you have to sue, if you are going to, within that five year window of when the agreement was reached. This should have been done in writing with a promissory note. Now, you are going to be hard pressed to win a lawsuit based soley on a verbal agreement. This would also have to be filed in the Circuit Court in the county where the person who owes you money resides because it is over the $5,000.00 limit for the amount in controversy for District Court.