What is the name of your state?What is the name of your state? Texas
Hello JETX:
I thank you very much for the advice. I did not understand the loan fraud issue. I received a letter from him saying that he will give the case to a lawyer. I hope your comment about the "loan in Texas should be in writing" is applicable in my case. He is trying hard to make it look like a loan and he calls it as such. There is nothing that will support his claim. Our verbal agreement did not refer to it as such. Our email correspondence shows my refusal to sign a promissory note against my house because it was not agreed upon. He is trying to intimidate me and giving me an ultimatum. I just received the following letter from his Attorney; The letter stated the following:
The letter stated the following:
"I have been retained by ........... to collect the full amount of the loan he made to you some time ago. As of today the outstanding balance is $34,000, exclusive of interest or attorneys fees. In the past Mr... has not been as aggressive as he could have been in his attempts to collect this debt, mainly in an effort to be accommodating to you.
Please be assured that no such accommodation will be made this time. Mr... intends to use all resources at his disposal to collect all amounts due and owing him, including Attorney's fees. If you wish to resolve this matter without the necessity of anther lawsuit being filed against you, please contact the undersigned to make payment arrangements.
Finally, I understand that Mr..... has in the past offered to settle this matter with you for 50% of the total amount due, or $17,000. Once again this was done in am attempt to accommodate you. Please note that all offers to settle this matter for $17,000 are hereby revoked. If I don't here from you by Friday, November 26, 2004, I will assume you have no interest in settling this matter.
Hello JETX:
I thank you very much for the advice. I did not understand the loan fraud issue. I received a letter from him saying that he will give the case to a lawyer. I hope your comment about the "loan in Texas should be in writing" is applicable in my case. He is trying hard to make it look like a loan and he calls it as such. There is nothing that will support his claim. Our verbal agreement did not refer to it as such. Our email correspondence shows my refusal to sign a promissory note against my house because it was not agreed upon. He is trying to intimidate me and giving me an ultimatum. I just received the following letter from his Attorney; The letter stated the following:
The letter stated the following:
"I have been retained by ........... to collect the full amount of the loan he made to you some time ago. As of today the outstanding balance is $34,000, exclusive of interest or attorneys fees. In the past Mr... has not been as aggressive as he could have been in his attempts to collect this debt, mainly in an effort to be accommodating to you.
Please be assured that no such accommodation will be made this time. Mr... intends to use all resources at his disposal to collect all amounts due and owing him, including Attorney's fees. If you wish to resolve this matter without the necessity of anther lawsuit being filed against you, please contact the undersigned to make payment arrangements.
Finally, I understand that Mr..... has in the past offered to settle this matter with you for 50% of the total amount due, or $17,000. Once again this was done in am attempt to accommodate you. Please note that all offers to settle this matter for $17,000 are hereby revoked. If I don't here from you by Friday, November 26, 2004, I will assume you have no interest in settling this matter.