Personal loans

[Dee Ryerson]

What is the time frame for collecting a personal Loan? Is it the same as regular commercial debts (ie, 7-10 years)? And if a family member is presenting themselves as a debt collector, can they be sued civilly for harrassment?

 

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Dee Ryerson:
What is the time frame for collecting a personal Loan? Is it the same as regular commercial debts (ie, 7-10 years)? And if a family member is presenting themselves as a debt collector, can they be sued civilly for harrassment?<HR></BLOCKQUOTE>

My response:

The Arizona Statute of Limitations is 3 years on an Oral agreement, and 5 years on a Written agreement. The time is measured from the inception of the loan, or from the date of the last payment, whichever is later.

A "family member" in his/her personal capacity, is not controlled by the Fair Debt Collections Practices Act. Your statement about Harrassment must be explained to me in FULL DETAIL in order for me to tell you whether or not a law has been violated.

IAAL



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By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."

 

[Dee Ryerson]

The harrassment issue is my friend Kris borrowed money from her mother 9-10 years ago. Due to health circumstances (disability), the debt was never repaid by either Kris or her ex-husband. Recently her father passed away & her mother lost income. Now, she is telling Kris that there is not a time frame for personal loans she wants $400 a month to pay a debt of $28,000 (Kris only borrowed apprx $500-700). Also, she calls Kris's home # and leaves very nasty and rude messages regarding the debt. The last one stated 'You're the child that makes the most money and should be paying to help me. I'm tired of living on the poor side of the street.' The mother also suggested that she had an attorney but when contact for the attorney's name & phone # - she refused. Can Kris sue civilly for harrassment?

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by I AM ALWAYS LIABLE:
My response:

The Arizona Statute of Limitations is 3 years on an Oral agreement, and 5 years on a Written agreement. The time is measured from the inception of the loan, or from the date of the last payment, whichever is later.

A "family member" in his/her personal capacity, is not controlled by the Fair Debt Collections Practices Act. Your statement about Harrassment must be explained to me in FULL DETAIL in order for me to tell you whether or not a law has been violated.

IAAL

<HR></BLOCKQUOTE>

 

[I AM ALWAYS LIABLE]

My response:

No. That's not the type of harrassment contemplated in the law. Have Kris change her phone number.

IAAL

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By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."

 

[Dee Ryerson]

Thank you so very much for all your help. <BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by I AM ALWAYS LIABLE:
My response:

No. That's not the type of harrassment contemplated in the law. Have Kris change her phone number.

IAAL

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