Re: Sample Loan Contract (USA)
The last few posts are legally sound and all, but I wonder from a practical point of view, are they really relevant. If he moves out of state, are you really going to pursue it. Five years from now, are you really going to pursue it? If he just avoids you in a few months and has no real assets but a small income, what are you going to do. Garnish his wages and get $5 a week? Get real. If he owes some bad people money and has no way of paying except to go to you, why would you think he'll be in a better position to pay you in the near future?
Tell him to open up a few credit cards, max those out and declare bankrupcy.
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