statute of limitations
Date: Tue, 01/31/2012 - 16:44
At the same time 5 years ago I also got a $1000 loan from a friend that I did sign a promissory note for. We never agreed on a payment schedule and I only made one payment the month after I got the loan. He has since told me verbally that he has forgiven the loan in order to remain friends. Can he change his mind and sue me since he only agreed to drop it verbally? And has the statute of limitations run out since there wasn't a designated payoff date?
In the first case, it sounds like a "deferment" of your payments
In the first case, it sounds like a "deferment" of your payments was implied..."until you get back on your feet". So when did you get back on your feet? To me, the SOL 2 years would not even start until you "got back on your feet."
Morally you owe the debt...to both individuals. This would make a great Judge Judy case....
reply to answer
I wasn't asking for moral advice just what's legal. When I got back on my feet over 2 years ago I tried to talk to the person from the first case and like I said she refused to talk to me. I have tried numerous times. Now I'm not in the position to pay her so that's why I asked if she can still sue me if she feels like. As for the second case when I could pay him back he was serving in Afghanistan and wouldn't accept any money. While I'd like to pay him back I can't afford it now so that's why I was wondering if he could sue me.
