verbal loan agreement dispute

[MMihoci]

State of Pennsylvania.

Question Pertaining to unwritten agreement.

During employment with my previous employer, after requesting a raise due to personal financial difficulty, I was instead offered a loan ($18,000) from my boss that was entirely in his name. No written agreement was made regarding terms, conditions, or payback between myself and with my former employer or the lending institution regarding the money. I honored an unwritten monthly repayment plan until my termination from the company. I have now received a promissary note from his attorney requesting my signature to unagreed repayment terms.
Am I responsible to this loan repayment without a written agreement?

Mike

 

[racer72]

Your verbal agreement and payment history gives your former employer a very strong case. I would suggest hiring a lawyer to negotiate a deal for you. What you spend in legal fees today will most likely save you a lot more money in the future (court costs, filing fees, etc.).