Legal Question in Civil Litigation in Texas

default on personal loan

I made a lone 4 years ago and paid a little less than half of note then we suffered a loss our own fauslt but fell behind and could not pay = the person we owe kept giving us greif so we chose to pay the sreditsards instead of her. We know she was not hurting for any money she just loaned us to get a 10% undeclared loan. Now she has a lawyer than is threating an injunction and we said we would pay one amount monthly but she wants twice that and will raise it up in 6 months. We did borrow but had a bad experiance on anothr issue that we feel she did us wrong while we were still in good standing on loan . That to was a reson we paid the creditors over her. What can they do and what can we do?


Asked on 1/31/07, 3:27 pm

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: default on personal loan

Presuming that the note is still within the statute of limitations, they could file a lawsuit for all principal, interest, late fees, collection fees, attorneys fees and probably obtain a judgment for that amount unless the note was usurious, e.g. charging more interest than allowed by law.

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Answered on 1/31/07, 5:33 pm


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