Legal Question in Credit and Debt Law in Georgia
I recently loaned my girlfriends grown son some money to pursue a divorce from his wife that keeps disappearing with their 3 daughters.our contract states he will make 1st payment on nov.19th of 2010 and he will continue to make payment on the 19th of each month until loan balance is paid in full.he has failed to make first payment and have not heard from him at all.he's working and receiving his wages.my question is can i demand full repayment of the loan since he has clearly broke the terms of our agreement?and can i file the needed paperwork in florida from georgia without an attorney?if not can i sue for attorneys fees even though our contract doesn't address this?
1 Answer from Attorneys
It sounds like you made three mistakes: (1) drawing up a contract without a lawyer, (2) loaning money, and (3) leaving things out of the contract.
You can only demand full repayment if you included an acceleration clause. Did you? If not, the answer is no.
You can only seek attorneys fees if your contract so provides, so that answer is no (based on your post).
And if you want to compound your problems, filing without a lawyer, unless the amount is small, is a mistake. Since at this point you can only sue him for one payment based on what you posted, a suit may or may not make sense.
At this point do what you should have done beforehand, see a lawyer and determine what remedies, if any, that you have. Bear in mind no one here has read your contract so no one knows if you even have a valid contract.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
