Legal Question in Consumer Law in Texas

Two years ago a friend of mine loaned me 5,000 we signed an agreement that I would pay her back in one month with 8% interest. It has been two years and I have been unable to pay her back. I'm still paying 400 every month and she refuses to take any part of it as payment so I still owe her 5,000. Is this legal? Is there anything I can do?


Asked on 9/10/09, 5:09 pm

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

There's no law that says she HAS to accept partial payments (she's a fool for refusing to do so). Four years after you make your last attempt to pay the debt (or some part of it), the statute of limitations kicks in, and she can't sue you.

Read more
Answered on 9/22/09, 12:17 pm


Related Questions & Answers

More Consumer Law questions and answers in Texas