Legal Question in Credit and Debt Law in Georgia

Debt

A couple of personal relation lended me money in the amount of $14,000. Due to many difficult circumstances I have not been able to repay the Debt. Is till owe $10,900.

This was just a verbal loan no paper work involved. I told them at the time I didn't know when I could repay. After a year they wanted me to pay $300.00. I did when I could in cash. This was kept confidential between us. Now they are calling and threatening to take me to court or garnishing my wages. This has been almost 6 years since it happened. What can they do to me legally and what can or should I do legally.

Thank you

c wright


Asked on 1/30/06, 6:56 pm

2 Answers from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: Debt

You should repay the money since you borrowed it. The verbal nature of the agreement will not make a difference.

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Answered on 1/31/06, 8:59 am
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Debt

I echo Mr. Lyon's response. Sometimes things should not come down to legal issues, and loans among family members are one of those times. It sounds like your relative was very generous, has let you slide a long time, and has been willing to accept what you can pay. You apparently have paid virtually nothing in years. Perhaps if you make an effort to pay whatever you can, even if it is $50 at a time, you can work it out, do the right thing, and salvage a family relationship.

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Answered on 2/01/06, 8:18 am


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