Legal Question in Civil Litigation in Washington
I was offered a personal loan from a friend with a verbal agreement to pay it back when I could. There never has been a written contract.
Due to the fact that my husband lost his job a year ago, our payments have been small, but we have been paying small amounts on it for 2 1/2 years, and to date have paid about $1000. I just heard from her, and she wants the balance paid off in 3 months. We have no way to pay off $2600 at this time, can she sue and expect the full balance paid immediately?
1 Answer from Attorneys
The short answer is probably not. In fact, she took a huge risk by loaning you money on a verbal agreement because short of you admitting the loan amount, she likely has no way to prove what amount was loaned in the first place, much less the terms of repayment, interest rates, etc.
If I were you, I would try to speak to your friend, explain that even if she sues, you are not going to pay her any more quickly than you otherwise are now paying, and see if you can work something out. If she sues you, then perhaps you ought to repost and see where things go.
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