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Loren
Loren, Attorney
Category: Business Law
Satisfied Customers: 29093
Experience:  30 years experience representing clients .
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On a (promissory note, security agreement and disclosure) in

Customer Question

on a (promissory note, security agreement and disclosure) in the state of California are they required to have an end date or maturity date in writing on the note? It is a credit union if that makes a difference.
Submitted: 1 year ago.
Category: Business Law
Expert:  Loren replied 1 year ago.

A note without a maturity date is payable upon demand.

Expert:  Loren replied 1 year ago.

It does not need a specific maturity date to be enforceable.

Customer: replied 1 year ago.
When dos a dept matture in ca? Meaning when it is not legal to report to credit
Expert:  Loren replied 1 year ago.

When no date is specified the debt is due when the lender makes a demand for repayment.

Expert:  Loren replied 1 year ago.

Did you have further questions? Have I answered your question?

Customer: replied 1 year ago.
there is no way to get the dept off my credit report since its been ten years and closed out
Expert:  Loren replied 1 year ago.

Did they ever make a demand for repayment?

Customer: replied 1 year ago.
in 2011
Customer: replied 1 year ago.
They said i could settle for a lower fee
Customer: replied 1 year ago.
It was a letter and i never replied
Expert:  Loren replied 1 year ago.

No, if you never repaid the loan then the information reported on your credit is not inaccurate. It would have to be inaccurate to be taken off the credit report.

Expert:  Loren replied 1 year ago.

Did you have further questions? Have I answered your question?

Expert:  Loren replied 1 year ago.

Are you still online with me?

Expert:  Loren replied 1 year ago.

If you have no further questions, and have not yet done so, please remember to leave a favorable rating (Excellent or Good) so that I am credited for assisting you. A bonus is not required, but is always appreciated.

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