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You can't legally collect on another individual.
You can however take them to court: You will need proof that the person took a loan from you, this can be a written and signed document or a verbal agreement with a third party witness. You can then take the person to a small claims court.
First answer by anonymous. Last edit by Jameslo. Contributor trust: 34 [recommend contributor]. Question popularity: 195 [recommend question]
Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Money Management > Loans > How do you collect on a private loan that has been defaulted on?
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How do you collect on a defaulted mortgage? How can you collect loan to ex-boyfriend in New York?
