there be never any papers legal or otherwise drawn up or signed legally recognized or otherwise for repayment he had said we would work it out then but never did. so in the later 36 months i have payed the $330.00 a month facts payments on the mobil. to date over $10,000 . now he requirements his money the lump sum and wont agree to payments. what rights by law do i enjoy? Help
Answers: he is trying to claim it was an interest single loan?
----
by law, neither of you have a contract;
a contract requires a "meeting of the minds" as to what the agreement is
and if a giving is part of the business deal, what the payment specifications are. ON that
commentary, you had no agreement.
thus, no agreement. Thus, he have no
grounds for suit.
Wait for him to sue you.
I would love to listen to the judge's comments.
YOU are in the clear by 2 miles!
Know one can kind you pay him put money on in a lump sum. Even if he take you to court, the court will set up a payment plan. It's wretched for your friendship that you cant pay him the lump
sum. Sounds resembling he was in attendance for you when you needed him.
BUT...the old proverb holds true...You cant get blood out of a turnup and if you dont own the total amount, he will have to agree to payments.
This is considered a civil matter-he will probly want to hire an attorney and you will be responsible for paying his attorney and filing fees also. The court will include that into your payoff plan to him.
My first question is, did you disclose the $5000 be borrowed to the lender? If you did not then you own committed Mtg Fraud!! Federal Crime to include wire fraud and it caries a 30 year prison sentence and a $1,000,000 fine. If you did later its recorded surrounded by the appraisal and the closing docs. So he can get proof. Pay your friend his money, he lent it to you within one lump sum, why should he wait for payments, he not a ridge!! Why is it one someone lends money to another the lender is the desperate guy when he wants his money put a bet on. You owe the $$. He'll sue you in small claims court, and he will win since both party knew this is a loan. The court will see you've be making payments on the home and will say you should hold been taking out $$ per month to pay packet it. Not paying your friend for 3 years makes it appear like you weren't much of a friend. He shouldn't own to ask for his $$ back; you should hold been paying him regularly. Obviously, if you don't enjoy $5,000 then you won't be capable of give him a 1 lump-sum recompense. But that won't stop him from getting a judgement.
One thing surrounded by your favor is there be no papers signed for this loan (dumb on his part), so you can say that you didn't expect to take-home pay it back for 10 years or something... the court may mandate that you settle it back surrounded by installments.
You don't. Unless he paid you currency, if he can prove he gave you the money and can show the court that you be not dating, married, and was not really surrounded by a financial position to give someone a offering, he will get his money put a bet on.
Only a loser wouldn't pay someone vertebrae that was that sizeable. Just because there is no record doesn't mean you don't hold to pay it support, there are heaps, many other things a court can bear into consideration.
You should be ashamed of yourself.
Whether he "worked it out" or not, you owe the man his money. Evidently, you didn't offer to brand name payments to him, which would have be the right thing to do. RIGHT?
You have 3 years to pay, but neglected to pay packet anything. What you need to do, the RIGHT entity, is to go borrow the money from a sandbank and pay him.
The amount of payments that you hold made on the mobile home does not have anything to do beside paying your friend back. But I'm sure that he would own accepted your contribution of $150 a month toward repayment. It would be paid past its sell-by date now if you have.
What's rights do you have by regulation. The only right that you hold is to do the RIGHT thing. He can sue you and win contained by court, even though there be no legal paperwork signed. You enjoy already stated that it was a loan. That's adjectives a judge wants to know.
SHAME ON YOU for trying to take good thing of a friend's generosity.
If you get hold of taken to court, you will also have to wage court costs.
wow ...I hope I never have a friend resembling you. Someone was kindly enough to permit you borrow 5000 bucks with no contract designation they trusted you and now your motto just because your paying your rent similar to you should to begin near that you shouldn't pay him stern? They will ask you to show proof of how you came up near the money..if he took it out of his account and consequently magically appeared on yours..he can def sue you. Hope he does.. You making the payments on the mobile home you bought has NOTHING to do beside what you owe your friend. If there be no paperwork, he probably can't do anything legally. But ethically, you owe him. Nice guy.
Wow..tried to screw a friend out of 5K...you must sleep ably at night...lent 10K to a older girlfriend...then she renigned.forgot she signed a promissory file on a bar napkin...get my 10K..pay the money.
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Answers: he is trying to claim it was an interest single loan?
----
by law, neither of you have a contract;
a contract requires a "meeting of the minds" as to what the agreement is
and if a giving is part of the business deal, what the payment specifications are. ON that
commentary, you had no agreement.
thus, no agreement. Thus, he have no
grounds for suit.
Wait for him to sue you.
I would love to listen to the judge's comments.
YOU are in the clear by 2 miles!
How does internet help out solid estate?
Know one can kind you pay him put money on in a lump sum. Even if he take you to court, the court will set up a payment plan. It's wretched for your friendship that you cant pay him the lump
sum. Sounds resembling he was in attendance for you when you needed him.
BUT...the old proverb holds true...You cant get blood out of a turnup and if you dont own the total amount, he will have to agree to payments.
This is considered a civil matter-he will probly want to hire an attorney and you will be responsible for paying his attorney and filing fees also. The court will include that into your payoff plan to him.
Get answers from millions of actual population.?
My first question is, did you disclose the $5000 be borrowed to the lender? If you did not then you own committed Mtg Fraud!! Federal Crime to include wire fraud and it caries a 30 year prison sentence and a $1,000,000 fine. If you did later its recorded surrounded by the appraisal and the closing docs. So he can get proof. Pay your friend his money, he lent it to you within one lump sum, why should he wait for payments, he not a ridge!! Why is it one someone lends money to another the lender is the desperate guy when he wants his money put a bet on. You owe the $$. He'll sue you in small claims court, and he will win since both party knew this is a loan. The court will see you've be making payments on the home and will say you should hold been taking out $$ per month to pay packet it. Not paying your friend for 3 years makes it appear like you weren't much of a friend. He shouldn't own to ask for his $$ back; you should hold been paying him regularly. Obviously, if you don't enjoy $5,000 then you won't be capable of give him a 1 lump-sum recompense. But that won't stop him from getting a judgement.
One thing surrounded by your favor is there be no papers signed for this loan (dumb on his part), so you can say that you didn't expect to take-home pay it back for 10 years or something... the court may mandate that you settle it back surrounded by installments.
You don't. Unless he paid you currency, if he can prove he gave you the money and can show the court that you be not dating, married, and was not really surrounded by a financial position to give someone a offering, he will get his money put a bet on.
Only a loser wouldn't pay someone vertebrae that was that sizeable. Just because there is no record doesn't mean you don't hold to pay it support, there are heaps, many other things a court can bear into consideration.
You should be ashamed of yourself.
Break a lease surrounded by Chicago?
Whether he "worked it out" or not, you owe the man his money. Evidently, you didn't offer to brand name payments to him, which would have be the right thing to do. RIGHT?
You have 3 years to pay, but neglected to pay packet anything. What you need to do, the RIGHT entity, is to go borrow the money from a sandbank and pay him.
The amount of payments that you hold made on the mobile home does not have anything to do beside paying your friend back. But I'm sure that he would own accepted your contribution of $150 a month toward repayment. It would be paid past its sell-by date now if you have.
What's rights do you have by regulation. The only right that you hold is to do the RIGHT thing. He can sue you and win contained by court, even though there be no legal paperwork signed. You enjoy already stated that it was a loan. That's adjectives a judge wants to know.
SHAME ON YOU for trying to take good thing of a friend's generosity.
If you get hold of taken to court, you will also have to wage court costs.
wow ...I hope I never have a friend resembling you. Someone was kindly enough to permit you borrow 5000 bucks with no contract designation they trusted you and now your motto just because your paying your rent similar to you should to begin near that you shouldn't pay him stern? They will ask you to show proof of how you came up near the money..if he took it out of his account and consequently magically appeared on yours..he can def sue you. Hope he does.. You making the payments on the mobile home you bought has NOTHING to do beside what you owe your friend. If there be no paperwork, he probably can't do anything legally. But ethically, you owe him. Nice guy.
Does it variety $$ sense to move closer to work vs staying be we are?
Wow..tried to screw a friend out of 5K...you must sleep ably at night...lent 10K to a older girlfriend...then she renigned.forgot she signed a promissory file on a bar napkin...get my 10K..pay the money.
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