How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask INFOLAWYER Your Own Question
INFOLAWYER
INFOLAWYER, Attorney
Category: Legal
Satisfied Customers: 56234
Experience:  Licensed attorney helping individuals and businesses
11313492
Type Your Legal Question Here...
INFOLAWYER is online now
A new question is answered every 9 seconds

Hello, My question is If a Co. owes you money and agrees

Customer Question

Hello,

My question is " If a Co. owes you money and agrees to a total amount to be paid. Then 30 days later sends a payment promissory note stating payments to be made, that will ultimately take 2 1/2 years to be paid in full. They want me to agree to it and have my signature notorized.
I have a signed letter stating word for word that my payment due is $1000.20. Now they send this letter wanting to send me payments of $55.56 from Oct.2010 to April 2012. Do I have to accept this?? Can I turn around and ask for payment in full?

Kathy
Submitted: 6 years ago.
Category: Legal
Expert:  INFOLAWYER replied 6 years ago.
Hello and thank you for your question. If you have an agreement by which they promised to pay it in full, you can pursue to enforce it. Otherwise you could negotiate a single payment or fewer payments as a compromise. Keep in mind that if you insist on a single payment, the claim may not settle and proceed to court which can take months.
Please click the ACCEPT button. (That is the only way I get credit for the answer, even if you have a subscription or put a deposit with Justanswer.com)

If I can clarify or add anything, please ask me by clicking REPLY before you click accept. I am here to answer and happy to do so.

A BONUS & POSITIVE FEEDBACK are very much appreciated, especially if I provided you with a lightning fast answer.

Although very rare, there may be a short delay between answers because I may be helping another customer or taking a break.

Take care,

Daniel
Customer: replied 6 years ago.

In the last correspondense letter sent. There is a line in the letter that says" We have consulted with interested parties and have come to the conclusion that your payment will be $1000.20.

 

They dont mention anything of a drawn out payment plan. If I send a letter stating I want payment in full or at the least 2 consecutive payments can i then say that if not recieved by 10/30/10 then I will have to seek legal concel or pursue this in small claims court?

Expert:  INFOLAWYER replied 6 years ago.
You could use the letter, sue in small claims court, get a judgment and then seek to enforce it. You could in court or now try to use the letter to secure a single payment or limited payments. 20 payments is excessively long.

Please click the ACCEPT button. (That is the only way I get credit for the answer, even if you have a subscription or put a deposit with Justanswer.com)

If I can clarify or add anything, please ask me by clicking REPLY before you click accept. I am here to answer and happy to do so.

A BONUS & POSITIVE FEEDBACK are very much appreciated, especially if I provided you with a lightning fast answer.

Although very rare, there may be a short delay between answers because I may be helping another customer or taking a break.

Take care,

Daniel