Legal Question in Criminal Law in Texas

I have a promissory note for a personal loan offered to me by a family member in February 2010. The terms for repayment states:

-Interest at the yearly rate 0%

-$100.00/month

-For life of note (July 9, 2010) or paid in full on anytime before that date.

I started repayment in May 2014 at $250/month. I have not missed a single payment. The lender now has a personal beef with me, and 4 days ago sent me a demand to collect the remaining balance, because (as stated in letter) "It is now time for you to honor your moral and financial obligations to someone who was there for you, in your hour of need."

Lender wants entire balance paid by 8/31/16, which I do not have. Does lender have legal case against me if I can't pay?


Asked on 8/08/16, 11:08 am

1 Answer from Attorneys
Cynthia Henley Cynthia Henley, Lawyer

This is not a criminal question but a civil contract question. I handle criminal cases but based on what I read, I seen no basis for acceleration. He would have to sue you and I do not see how he could win.

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Answered on 8/27/16, 1:57 pm


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