Legal Question in Credit and Debt Law in District of Columbia

Payment On Promissory Notes

I received three loans from a dear friend from 1989 to 1990, totaling $3,500 at 3% interest. He printed out a computer paper from his personal PC and It basically said I could pay back the loan ''as the situation permits.'' There was no notary public involved. I finally repaid him the $3,500 in cash in 1999 (without even asking for a receipt (as he knew me as a kid)My friend passed away about 4 months ago, and all of a sudden, the other day, I received a letter from an attorney who said he represented the managers of his estate (non relatives, but close friends I believe-possibly former students of his, as he used to be a professor) or people he had designated to handle his ''estate'' after his death. After nearly 4 months they found a copy of the old promissory not (or is it a contract? I don't know) They are under the impression that I still owe him this money. The attorney they retained stated that I needed to contact him by the end of the month to make ''arrangements to pay back the loan.'' My question is--What do I do in this situation, and what if any, are the statute of limitations in something like this? Can I be sued, or harassed? Please advise on how I should reply.

Thank You


Asked on 4/26/02, 9:25 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Payment On Promissory Notes

If you withdrew $3500.00 in cash from your financial institution in 1999, they may still have a retrievable record of the transaction.

Although this, obviously, would not be proof that you paid this sum over to your now deceased friend, a copy of the withdrawal transaction along with a letter of explanation to the lawyer representing the estate, could go a long way in settling this matter.

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Answered on 4/26/02, 11:02 pm


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