question
I was looking at the link you gave me and it talks about interest. Do I add interest to the money he owes me? Well according to our most recent contract he is suppose to pay 10% late fee.
-----This is the contract I have -----Everything is signed for our names and only the 1st payment was made, this is the original payment amounts however we switched the 1st payment of $500 to $40 and the last payment of $40 to $500.
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I him agree to follow the payment plan as followed to repay me in the following amounts to a total $3,040.00.
Payments will be paid in the form of cash, certified check or money order only.
No personal checks will be allowed to be used as a form of payment.
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First Payment of $40.00 due on June 25, 2010 no later than 4:30 pm.
Payment Received: __________________________ Date: __________
(Signature of me required.)
Payment Received: __________________________ Date: __________
(Signature of him required.)
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Second Payment of $500.00 due on July 9, 2010 no later than 4:30 pm.
Payment Received: __________________________ Date: __________
(Signature of me required.)
Payment Received: __________________________ Date: __________
(Signature of him required.)
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Third Payment of $500.00 due on July 23, 2010 no later than 4:30 pm.
Payment Received: __________________________ Date: __________
(Signature of me required.)
Payment Received: __________________________ Date: __________
(Signature of him required.)
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Fourth Payment of $500.00 due on August 6, 2010 no later than 4:30 pm.
Payment Received: __________________________ Date: __________
(Signature of me required.)
Payment Received: __________________________ Date: __________
(Signature of him required.)
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Fifth Payment of $500.00 due on August 20, 2010 no later than 4:30 pm.
Payment Received: __________________________ Date: __________
(Signature of me required.)
Payment Received: __________________________ Date: __________
(Signature of him required.)
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Sixth Payment of $500.00 due on September 3, 2010 no later than 4:30 pm.
Payment Received: __________________________ Date: __________
(Signature of me required.)
Payment Received: __________________________ Date: __________
(Signature of him required.)
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Seventh Payment of $40.00 due on September 10, 2010 no later than 4:30 pm.
Payment Received: __________________________ Date: ___________
(Signature of me required.)
Payment Received: __________________________ Date: __________
(Signature of him required.)
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If in any situation where a payment is missed there will be an addition late fee charge of 10% added in addition to the payment amount, that must be paid no later then the following Monday. The following Mondays are listed below:
First payment: Monday, June 28, 2010. (10% fee = $4.00)
Second payment: Monday, July 12, 2010. (10% fee = $50.00)
Third payment: Monday, July 26, 2010. (10% fee = $50.00)
Fourth payment: Monday, August 9, 2010. (10% fee = $50.00)
Fifth payment: Monday, August 23, 2010. (10% fee = $50.00)
Sixth payment: Monday, September 6, 2010. (10% fee = $50.00)
Seventh payment: Monday, September 13, 2010. (10% fee = $50.00)
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I __________________ (him) have agreed to this payment plan on Wednesday, June 16, 2010 and shall follow and abide by the terms laid out in this agreement.
Signature: _____________________________ Date: _________
I __________________ (me) have agreed to this payment plan on Wednesday, June 16, 2010 and shall follow and abide by the terms laid out in this agreement.
Signature: _____________________________ Date: _________
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So he is late for the second payment. And he just replied to me via text messages explaining that he is out of town and that there was a sudden death in the family. However, If i remember correctly this is the week of a wedding. Where he was suppose to go to SC or NC and thats where the funeral is. Sigh....I learned my lesson. never let anyone borrow money!!!
So is it more likely that I will win the case you think?