Is there a time limit to sue for money owed? Ontario

[moeman123]

I have a private contract with someone. I lent them 22K. This was done about 6 years ago. The contract was done by a lawyer and said it is due, interest free, when I send a demand letter.Once I send a demand letter I can ask what interest I like (what is legal in Ontario I guess).
I have not sent a demand letter yet.
Well this person went from destitute to wealthy (huge inheritance) and now has a million dollar home, car etc.

Is there a time limit to sue? I was thinking small claims. I didn't send a letter yet but when I asked via phone they told me to "shove the contract up my ass" so I expect I won't be getting the money voluntarily.

I can't afford a lawyer now but need my money so I am on my own.

 

[Grand Formage]

Based on the facts you stated it's 2 years from the date the debt was due which in your case is triggered when you send the demand letter. You're debt is a demand loan. So you're good. Send the demand letter registered mail or have it served and go from there. Good luck.

 

[Moraff]

Just wondering, didn't the fact the borrower was willing to let you set whatever interest rate you wanted not set off some warning bells that you might have trouble collecting?

 

[Perry Mason]

Based on the facts you stated it's 2 years from the date the debt arose. You're SOL.

You speak with great authority... but you know zilch.

You have two years from the time you serve a demand for payment.

And the Small Claims Court is the perfect place to pursue it if he does not pay after demand.

p.s. I know what a "fromage" is, but what is a "formage"?

Perry

 

[black booty lover]

Hey Moe,

Sorry to hear about this. I lent someone much less thress years ago and getting back has been tough. I hope you learn you lesson from this. I have. It's funny, it's always the people that try to help people out that are the ones that screwed. Cant beleive after you leant someone that much, there way of thanking you is to shove the contract up your ass. Some people have no concious what so ever.

 

[69Shooter]

Like black booty said, sorry to hear about your problem.

While it's too late for you now, my advice has always been... Never lend money to a friend/family member that you expect/need to get back. If you do get repaid, great! Just be prepared that you won't.

 

[TeasePlease]

You speak with great authority... but you know zilch.

You have two years from the time you serve a demand for payment.

And the Small Claims Court is the perfect place to pursue it if he does not pay after demand.

p.s. I know what a "fromage" is, but what is a "formage"?

Perry

Does the "breach" occur on the service of demand or the repudiation of the agreement? Couldn't the borrower argue that the lender knew or ought to have know about the breach when he was told to shove the contract up his ass?

 

[fun-guy]

p.s. I know what a "fromage" is, but what is a "formage"?

Perry

A dyslectic Italian.

 

[fun-guy]

Well this person went from destitute to wealthy (huge inheritance) and now has a million dollar home, car etc.

I didn't send a letter yet but when I asked via phone they told me to "shove the contract up my ass" so I expect I won't be getting the money voluntarily.

What a prick, you help a guy out when he's down and this is the way he thanks you. Carma's a bitch and he'll get a visit sometime soon I'm sure.

Perry Mason is dead on, I've been in involved in many similar situations and have been drilled on the Statue by my lawyers numerous times.

 

[69Shooter]

What a prick, you help a guy out when he's down and this is the way he thanks you. Carma's a bitch and he'll get a visit sometime soon I'm sure.

Perry Mason is dead on, I've been in involved in many similar situations and have been drilled on the Statue by my lawyers numerous times.

This really belongs in the review section.

http://toronto.backpage.com/FemaleEscorts/carma-dont-miss-out-cuz-its-good-647-458-4673-20/8219418

 

[moeman123]

You speak with great authority... but you know zilch.

You have two years from the time you serve a demand for payment.

And the Small Claims Court is the perfect place to pursue it if he does not pay after demand.

p.s. I know what a "fromage" is, but what is a "formage"?

Perry

Thanks for the advice. I will send them a demand letter via server ASAP and then give them 30 days to pay before I start a small claims.

 

[moeman123]

Like black booty said, sorry to hear about your problem.

While it's too late for you now, my advice has always been... Never lend money to a friend/family member that you expect/need to get back. If you do get repaid, great! Just be prepared that you won't.

If they have assets I will get the money (he has a lot of them). Once you have an order the money is easy to get (i.e. sheriffs sale, garnishment etc.). The tricky part is suing a scum bag who collects welfare and collects cash money. Then that becomes a nightmare but people with assets have to pay one way or another,

 

[69Shooter]

Thanks for the advice. I will send them a demand letter via server ASAP and then give them 30 days to pay before I start a small claims.

Make sure you keep everything plain, simple and non-personal (i.e., don't call him names, etc.). Good luck!

 

[69Shooter]

If they have assets I will get the money (he has a lot of them). Once you have an order the money is easy to get (i.e. sheriffs sale, garnishment etc.). The tricky part is suing a scum bag who collects welfare and collects cash money. Then that becomes a nightmare but people with assets have to pay one way or another,

Yes, but did you know he was going to get an inheritance when you loaned him the money? The point of my advice was that you should always expect the worst case scenario when you lend money to a friend or family member. Even so, you should absolutely seek whatever remedies are available to you under the law.

 

[AllishaMyst]

Also maybe you should put a lean on the property so they can't switch ownership of property. Good luck and you should charge a fair interest rate.

 

[richaceg]

Be straight forward and be professional when you're going after your money...Small claims is the best place if he's being stubborn. Make sure you have everything laid out before the judge (documents) and all the proof. Here's the tip when you're in small claims...never talk to the defendant address everything to the judge keep status quo and don't get too emotional. You will get what's due.

and lastly...keep us updated. We want this douche to pay up.

 

[69Shooter]

Be straight forward and be professional when you're going after your money...Small claims is the best place if he's being stubborn. Make sure you have everything laid out before the judge (documents) and all the proof. Here's the tip when you're in small claims...never talk to the defendant address everything to the judge keep status quo and don't get too emotional. You will get what's due.

and lastly...keep us updated. We want this douche to pay up.

Maybe canada-man can post a couple of Judge Judy clips of how not to act so that moe doesn't make a complete ass of himself in small claims court

 

[canada-man]

Small claims court in Ontario is worthless all they do is ask you to fill out forms and pay fees and join lines to submit the forms

 

[DiverDown6699]

Hey all,

I have first hand knowledge.
- Be polite.
- leave emotion outside.
- ALWAYS stand when the Judge/Justice enters and leaves. (I forgot this the first time he departed the chamber, he glared at me and I felt like an ass)
- Have all documentation and evidence on hand.

If a lawyer is too expensive for you, a paralegal can also help considerably with much less of a fee. I've found Paralegals to be very knowledgeable.

Cheers,
DD

 

[fun-guy]

Also maybe you should put a lean on the property so they can't switch ownership of property. Good luck and you should charge a fair interest rate.

Tried that once and it was thrown out of court. The loan was unsecured.