Legal Question in Credit and Debt Law in New York

Personal Loan

I borrowed money from a firend for the amount of $745.00. I also signed a loan agreement stating that I had two years to pay him back. I signed this agreement the last week in December 2000. It is now January 2001, and he is harrasing me for money. I have already sent him $100.00 and I plan to send him $100.00 each month for seven months until this gets paid off. I figured this would be the fasted way to handle this situation.

He keeps calling my work and home telling me that he never should have loaned me the money because now he is short on cash. He signed the same papers that I did with the same understanding as I have. My fiance has called him one time and asked him to stop harrasing me about this because I have already sent one payment and I have two years to pay him back. Now my friend has said that he is going to take me to small claims court and get the money back and he is going to have my fiance arrested for harrasing him, even though my fiance only called one and nicely asked him to not keep bothering me.


Asked on 1/13/01, 1:01 pm

1 Answer from Attorneys
Stuart G. Brecher Law Offices of Stuart G. Brecher, LLC

Re: Personal Loan

If you are paying him back at the rate provided for in the signed agreement, then your are in compliance. If, however, you have defaulted by paying him back at a more leisurely rate than is provided in the agreement, he may have a claim against you for breach.

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Answered on 1/30/01, 10:46 am


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