Legal Question in Consumer Law in Michigan
I provided an unsecured loan to someone years back. After several years the party stopped paying. I continue to contact the party requesting payment as agreed upon when the loan was made. He attempts to pay but to a different (uninterested party) in an amount not agreed upon initially. Am I doing anything illegal by continuing to ask for payment of the original agreed upon amount or payment in full?
1 Answer from Attorneys
I am not sure I fully understand your question. First, the maximum statute of limitations in Michigan is six years for breach of contract. I am assuming you have a written promise to pay or a written contract. The time would run from the date of the last payment made. Why is the debtor paying a different person? I don't get that at all, is that uninterested person someone that you owe money to? Is the debtor sending payments to you but paid to the order of a different person? I would need more detail to answer this question.
Related Questions & Answers
-
My husband has a car loan through a credit union. The loan was supposed to be paid... Asked 2/09/15, 10:48 am in United States Michigan Consumer Law
-
In Michigan, does the estate pay penalties if an auto lease ends early because the... Asked 9/27/14, 12:06 pm in United States Michigan Consumer Law
-
We had a service contract...that 'automatically renewed for 5 years'unless... Asked 4/23/14, 8:52 am in United States Michigan Consumer Law