Legal Question in Credit and Debt Law in California
I have a small business.A friend of mine got money from a lawsuit. When I went to her she offered to help. So I borrowed the money. There is no contract. I gave her a letter saying I would pay it back. I didnt say I would pay the whole thing at once if I could do that then I wouldnt have needed to borrow. I have been making weekly payments when I can. They are not consistent weekly but I send what I can as often as I can. She is threatewning to take me to court and garnish my husbands wages. My husband is not involved with this. Hes been with the same company for almost 40 years. I dont want him involved. This is between her and me. Can she take me to court. Is there anything I can do to protect myself. I know dont borrow money from friends or relatives
2 Answers from Attorneys
Although the document and emails would need to be reviewed, she can sue you and can bring in your husband. Further planning may help.
One option is to negotiate an arrangement with the lender, and make more regular payments. The much more drastic option is to file bankruptcy.
It is not your sole decision as to when or how the loan is repaid. If there is no question as to the amount owed and as to the fact that there is no repayment schedule, then the judge will likely enter a judgment against you.
Should your lender obtain a judgment against you, she can garnish your husband's wages. Those wages are community property, and can be used to satisfy any debt that you incur during the marriage.
Best of luck to you.
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