Facts: Our client loaned $50,000 to his friend, who invested in real estate, because she had fallen on hard times. When the friend failed to repay the outstanding loan balance of $37,500, following a demand letter and numerous promises to repay him, we filed a lawsuit.
Result: The defendant chose not to contest the lawsuit, resulting in a judgment for our client.
Amount Client Received: Our client was awarded a judgment for $66,380.95 plus interest and court costs, and $2,136.75 in attorney’s fees. After the judgment was entered, the defendant agreed to make automatic monthly payments directly from her bank account. So far, our client has recovered $1,500 in addition to $1,250 in attorney’s fees.