Legal Question in Credit and Debt Law in Texas

Loan from a family member

I received a loan from a family member and wrote a statement promising to repay the loan as soon as possible. It has been approximately 3 months and they have decided they want the money now or will sue. The amount of the loan is $700 and no date was promised for repayment. Do they have legal recourse?


Asked on 4/29/04, 4:00 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Loan from a family member

It all depends upon whether it has been possible for you to repay the loan, since you promised to repay "as soon as possible".

That's quite a bit different from, "when I feel like it", or "when it's convenient".

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Answered on 4/29/04, 4:15 pm


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