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Joseph
Joseph, Attorney
Category: Legal
Satisfied Customers: 7279
Experience:  I have 15 years experience in the legal field, currently specializing in criminal and family law
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Over the years, I have borrowed about 100,000.00 from my Father.

Customer Question

Over the years, I have borrowed about 100,000.00 from my Father. His new wife is leaning on me for payments. I can only afford small payments. Now they are asking for assurance that they get paid even if something happens to me.

I live in Maryland and they live in New Jersey.

Is there an expiration on these loans? Are they intitled to security at this point?
Submitted: 1 year ago.
Category: Legal
Expert:  Joseph replied 1 year ago.

When you took the loans from your father, you created a contract with him, whether an actual written contract or just an oral contract. Either way, the terms of the contract were set at that time. Assuming you made no arrangements to provide him with any security, then he is not entitled to any security now. You can provide him something for security if you wish, but you have no requirement to do so.

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By "expiration", I assume you mean a statute of limitations for a lawsuit to enforce the contracts. The statute of limitations in New Jersey for a contract is six years. Meaning, if you made no payments for six years and your father did not file a lawsuit by that time, then he would be prohibited from pursuing the matter legally at that time.

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Please let me know if anything requires clarification.
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Expert:  Joseph replied 1 year ago.
It appears that you have gone offline. I too am going offline for the evening. However, I will be back online tomorrow and I would suggest that you feel free to reply if necessary and I will respond as soon as I am able. Thank you for your patience.
Customer: replied 1 year ago.

Thank you Joseph,


 


Also, I have given my Dad 2 checks over the years that were returned by my bank unpaid. Is there a time limit in which he can collect them and or go to the District Attorney with them. If so, in which State would he seek a remedy from via the District Attorney?


 


I have paid him thousands over the years, and do not know exactly how much but I do know I still have an outstanding balance. What it is I do not know.

Expert:  Joseph replied 1 year ago.

When did you write the checks? For what amount were they written?

Customer: replied 1 year ago.

I am in the process of getting that information. I'll get it to you as soon as I receive it.

Expert:  Joseph replied 1 year ago.
Just post the information when you have it, the requested information is crucial to the answers. Once you post it, I'll respond as soon as I am available. Thank you.
Customer: replied 1 year ago.
I believe it has been 10 years or more.
Expert:  Joseph replied 1 year ago.

With it having been ten years or so, you have nothing to be concerned with in regards XXXXX XXXXX criminal prosecution. Regardless of the amount of the check, any statute of limitations would have run long ago. With that being the case, a criminal prosecution for the writing of bad checks would be legally impossible.
.
I hope you found my answer helpful. If so, please click on a positive rating for my answer. This is necessary for me to be paid for my work and so that I can get credit for assisting you. Even if you are a subscription member, you will need to provide a positive rating. Your question will not close, and you will still have the opportunity to follow-up if needed. Leaving a bonus and positive feedback is not required, but doing so is certainly appreciated! Thank you and good luck!

.

Also, several customers have asked how they may direct a question to me in particular. If you specifically want me to assist you in your legal matter, just put "FOR JOSEPH" in the subject line and I will gladly pick up the question as soon as I am on-line.

Customer: replied 1 year ago.
Joseph,
I have asked my Dad to furnish me with any and all documentation he has regarding my loans, I believe I borrowed money 6 times. Nothing in the last 3 years.

May I contact you when I get the information?
Expert:  Joseph replied 1 year ago.

Of course. Upon your return, you can click on the link by my name and then begin your question with "For Joseph", that will ensure that your questions are directed to my attention. In the meantime, if I have answered your questions this evening, I would kindly ask that you click on a positive rating so that I may be compensated for my efforts with you. I thank you in advance for your consideration.
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I hope you found my answer helpful. If so, please click on a positive rating for my answer. This is necessary for me to be paid for my work and so that I can get credit for assisting you. Even if you are a subscription member, you will need to provide a positive rating. Your question will not close, and you will still have the opportunity to follow-up if needed. Leaving a bonus and positive feedback is not required, but doing so is certainly appreciated! Thank you and good luck!

.

Also, several customers have asked how they may direct a question to me in particular. If you specifically want me to assist you in your legal matter, just put "FOR JOSEPH" in the subject line and I will gladly pick up the question as soon as I am on-line.

Joseph, Attorney
Category: Legal
Satisfied Customers: 7279
Experience: I have 15 years experience in the legal field, currently specializing in criminal and family law
Joseph and 13 other Legal Specialists are ready to help you
Customer: replied 1 year ago.

Hello Joseph,


I have not gotten the requested information. My Dad said when I get him a repayment schedule, he will provide me with the documentation.


 


I was reading through our conversation and you indicated that unless my Dad brought suit within 6 years, the statute of limitations would apply.


 


I began making payments of 100.00 back in May. Does that reopen the contract?

Expert:  Joseph replied 1 year ago.
Unfortunately, yes, that causes you harm. The statute of limitations would begin to run, in such a situation, after the last payment was made. The theory, I suspect, is that the creditor should not be required to sue so long as the debtor is making some payment. As such, the limitations period does not begin to run until the debtor stops making payments, then the clock begins to tick.
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Also, several customers have asked how they may direct a question to me in particular. If you specifically want me to assist you in your legal matter, just put "FOR JOSEPH" in the subject line and I will gladly pick up the question as soon as I am on-line.
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Leaving a bonus is not required but doing so is certainly appreciated! Thank you and good luck!

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