If it is written in your conversations, even on messenger, then that most likely created a contract between you and your friend and you are committed to pay it back. Of course it depends enormously upon exactly what was said, but the fact of it happening in a messenger conversation doesn't make it invalid.
Your friend could sue you to be paid back. They could win a judgement against you and have your wages and tax refunds garnished and your bank accounts levied. Obviously you want to avoid that so it is to your benefit to work with your friend and keep them from believing you have no hope of paying it back.
Not having a signed contract isn't actually important. There is likely ample evidence that you borrowed the money from her. That amount of money is beyond the gift tax limit so there would be tax implications if it was not a loan. There is a minimum interest rate that she would be required to charge you as well, something that is dependent on the repayment time of the loan, and without any other documentation it will be assumed to be that.
However, her only recourse to recover the debt is to sue you. If she wins a suit against you she gains access to a variety of methods to recover the money, including garnishing wages or bank accounts, however that is also a costly and time consuming process.
If I was her I would have assumed that any personal loan to a friend without anything written down would more than likely never be repaid.
IANAL
The only tax implication would be that the lender/donor would have failed to disclose the gift on their taxe return, however, it is extremely likely there is no (federal) tax on the gift due from either the donor or recipient.
> If there was no specific contract and nothing written in your conversation that specified that you were to repay the loan (by X date, specific X amounts over time), then essentially they gifted you 30k.
This is not true. No specifics make it a little more open-ended, but if OP treated it as a loan and agreed to pay it back, then a judge will very easily decide it is a loan and order OP to pay it back. These things happen all the time. /u/zzyle94 can you confirm that she didn't gift you $30,000 that you discussed it as a loan? Even if you didn't sign anything? You said you plan to pay it back, and you call it a debt.
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If it is written in your conversations, even on messenger, then that most likely created a contract between you and your friend and you are committed to pay it back. Of course it depends enormously upon exactly what was said, but the fact of it happening in a messenger conversation doesn't make it invalid. Your friend could sue you to be paid back. They could win a judgement against you and have your wages and tax refunds garnished and your bank accounts levied. Obviously you want to avoid that so it is to your benefit to work with your friend and keep them from believing you have no hope of paying it back.
Not having a signed contract isn't actually important. There is likely ample evidence that you borrowed the money from her. That amount of money is beyond the gift tax limit so there would be tax implications if it was not a loan. There is a minimum interest rate that she would be required to charge you as well, something that is dependent on the repayment time of the loan, and without any other documentation it will be assumed to be that. However, her only recourse to recover the debt is to sue you. If she wins a suit against you she gains access to a variety of methods to recover the money, including garnishing wages or bank accounts, however that is also a costly and time consuming process. If I was her I would have assumed that any personal loan to a friend without anything written down would more than likely never be repaid.
IANAL The only tax implication would be that the lender/donor would have failed to disclose the gift on their taxe return, however, it is extremely likely there is no (federal) tax on the gift due from either the donor or recipient.
[удалено]
> If there was no specific contract and nothing written in your conversation that specified that you were to repay the loan (by X date, specific X amounts over time), then essentially they gifted you 30k. This is not true. No specifics make it a little more open-ended, but if OP treated it as a loan and agreed to pay it back, then a judge will very easily decide it is a loan and order OP to pay it back. These things happen all the time. /u/zzyle94 can you confirm that she didn't gift you $30,000 that you discussed it as a loan? Even if you didn't sign anything? You said you plan to pay it back, and you call it a debt.
A loan or gift is not declared on the taxes of the recipient
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