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Olivia Kent
Olivia Kent, Attorney
Category: Legal
Satisfied Customers: 871
Experience:  Partner at Kent Law Group, LLC
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We were having very bad financial problems in 1997 and 98. A

Customer Question

We were having very bad financial problems in 1997 and 98. A wealthy insurance man we knew heard about this and offered many times to loan us some money to help. Finally when things got even worse I borrowed $9,000.00 or $11,000.00. (So sad I can't even remember!) I did sign a note that we would pay it back but I didn't know when or how much I could pay at a time. Things have gotten better, but still we hardly can make ends meet. We never heard from him again until last Tuesday. He called and was very nice, but his situation has changed and now needs his money. I of course was so embarrassed we had not paid the money back. But he said he would take payments. His wife is sick and he's calling people he had helped to start collecting money owed to him. I told him I would talk with my husband on how much we could pay every month and would call him back in a week. Today. Well, last nite I received an irrate voice mail from him stating I said I would call and didn't. He said this will get real ugly, really bad if I don't pay him and I'd better call him if I didn't want problems. I know we owe. We will make these payments. I'm thinking $400.00 month and more if possible. We have some land we are going to try to sell. But, can he legally do anything to us? Come after us? To my knowledge nothing was ever recorded on this note.
Submitted: 11 months ago.
Category: Legal
Expert:  Olivia Kent replied 11 months ago.

Hello. My name is ***** ***** I'm an attorney. I’ll be happy to help you in any way I can. This site is for educational purposes only. Sometimes - although certainly not always - experts have to give you what you deem “bad news” but that should not be a reflection of how satisfied you are with the assistance your expert provided. My goal is to make sure you are completely satisfied before you submit your rating so please let me know if you have additional questions or you need me to clarify anything If there is a delay in the time it takes me to respond it is because I am working with a customer or I am not online - but rest assured I will respond to your follow up question, if you have one. Also,occasionally I will respond from a mobile JA unit, which automatically asks you to submit a rating once I submit a response - but please don't feel like you need to do so until we are done speaking. Essentially what you have is someone who assisted you in your time of need who has now gotten desperate b/c he needs money. Do you have a copy of anything that you signed stating that you owe him money, the terms for repayment, etc.? That would be really helpful. Otherwise, what he could do is go to small claims court with his version of events and any documentation he has. Getting his money back becomes tougher the less of a paper trail there is for the loan but you nonetheless could find yourself in a messy situation. You could try to call him back to diffuse the situation and offer a repayment schedule - but ultimately, whether he can collect is dependent upon what you signed as part of your loan. I hope that helps.