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Thank you for your question.
I am sorry to hear that you have this situation. However I am a bit unclear as to you actual question. How can I specifically assist you? What is your question? How much do you calculate they owe you?
Sorry, I guess I did not make that clear. So what I want to know is, since I did find the original promissory note where they did agree to pay 5% compound interest I refigured the loan and they owe me $1400 more if I calculate the interest at the end of each year they still owed me instead of only adding 5% interest at the end of the loan. If they indeed hire a lawyer who is in the right, me since I did find the original promissory note or them, since I did sign another note figuring the interest in only once, along with the fact that they could not pay me the entire amount in January and pay off the loan because they "didn't have the money" and then after I agreed on that they took another cruise.
Thank you for your follow-up, Jill.
Hiring a lawyer does not make one party more 'right' than the other, it is just the attorney may assist them in arguing that if you accepted the initial payment for less, you 'waived' your rights to additional benefits and that you essentially modified the terms of the promissory note. Them taking a cruise (or multiple cruises) is not an issue since their debt to you is separate from their other expenditures. I can understand your frustration but provided they were paying you as contracted OR as you consented, there is no breach. In terms of how much they owe you, yes, they can file for bankruptcy and potentially discharge the debt, but there is no guarantee that they will do so. As for the amount owed, it is small enough that you may want to consider taking them to small claims for the additional funds owed to you. Just please know if they can produce writing where you agree to take less, the courts will use that writing against you.
Thank you. Not really the answer I was hoping for as $1400 is quite a bit of money who was out of work for 3 months but I guess I will have to settle for that.
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