Legal Question in Civil Litigation in California
Loan with Ex In-Laws
When I was married, my wife and I took
out a personal loan from her parents in
the amount of $ 40,000 to be paid back
within 8 years in the amount of $
500.35 per month which comes to $
48,033.60 (obviously includes a set
amount of interest). We have that loan
in writing signed by all 4 parties (my ex,
myself and both her parents). Now that
we are divorced they are trying to get
me to pay the interest on her loan from
the bank which I had nothing to do
with. The only thing we have in writing
is the original contract as mentioned. I
have been sending checks with my loan
balance on the memo line, but now she
is writing on top of my memo line that
she is cashing the check based on her
terms on the back. Should I keep
sending payments or would that show
that I accept her new terms? Please
help!
1 Answer from Attorneys
Re: Loan with Ex In-Laws
For starters, I don't suggest you trust your situation and decisions to some anonymous free advice on the Net. No one is going to give you actual legal advice here that you can trust, only generalities, since we haven't seen the agreements, divorce decrees, property settlement orders, correspondence or other documents which may confirm oral agreements, nor have we researched the law or cases, nor can you expect anyone to do so for this forum, since they have no committment or obligation to you. The cliche 'advice is worth what you pay for it' applies. Regardless, the original agreement determines the obligations, subject to any modifications from the divorce court or other agreements or waivers of the parties. Only you know what they are. Whatever you contend is your remaining obligation is obviously open to dispute by her, and she is already telling you that. Does it matter what anyone on this forum tells you? Are you going to go wave a printout of that response in her face and expect her to 'fold'? You may end up being sued if you don't do as they demand, and you will certainly need help then. When you are ready to get serious about the large and disputed financial obligation you face, feel free to contact me for consult on this.