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Can I sue the parents of an adult child that has yet to repay a personal loan?

Business 2 views 2 answers
Made a $5000 + 15% interest loan to a friend. Cashier's check was sent to the mall to pay the rent on the retail space that she used for her small business. The friend agreed to repay the loan within 3 months. It has almost been a year and no money has been received. The friend lives with her parents who pay ALL of her bills. Though the parents probably won't claim her or her 2 children as dependents on their taxes, I am curious to know can I formally require the parents to acknowledge and pay the debt?

Attorney Answers

2
Robert Collins ·
I can't think of any legal basis for the parents to be responsible for the debt incurred by their adult child. If the "friend" has income or assets, then maybe a lawsuit is necessary. If no income or assets, then I'm sure you have heard the old saying that you can't get blood from a stone.
0 upvotes
Joseph Cole ·
You probably will not be able to sue the parents because they did not enter into an agreement with you. The only way you could possibly get to the parents is if you can prove the parents were somehow hiding money from you or involved in some scheme to defraud you. This does not seem likely. It sounds like your friend has a failing or had a failed business and could not pay the debt. Your only legal recourse at this point is to sue your friend, get a judgment, and hope that perhaps in a few years she will be able to pay the judgment off.
0 upvotes

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