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TexLaw, Attorney
Category: Legal
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Experience:  Lead trial/International commercial attorney licensed 11 yrs
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in the state of colorado, is it against the law to borrow money

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in the state of colorado, is it against the law to borrow money from a widow over the age of 60 yrs old

Thank you for your question.

It is not illegal to borrow money from a 60 year old.

May I ask what has led you to ask such a question?

Customer: replied 3 years ago.

my mother in law has married a man and her and i were small business owners together and i did borrow money from her when the company was in a bind, and deposited into business account and also i deposited personall money into the business account, long story short, he has been going through her files, and is threatning to file criminal charges against me for borrowing money from a widow over 60 which he says is illegal in the state of colorado


That's nonsense. There is no such law. You have not done anything wrong as long as she was fully aware of what was going on.

You should ask her to sign a contract stating that she gave the money to you for use in the business and the terms on which the business will pay her back the loan.

Please let me know if you have any further questions. Please also kindly consider rating my answer positively so that I am compensated by the website for my work on your question. Rating does not cause an additional charge and will not prevent us from further discussing your questions.

Best Regards,
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