D
DawnL
Guest
I signed a Promissory note that stated a 10% annual interest rate from a bank that stated
" Payment due on demand, if no demand is made, $600 / mth beginning on 03/01/99. I have made my payments on time. I got a letter from them in 1/2000 that said they were goin to raise my interest rate to 11%. I thought they made a mistake so I ignored it and kept paying 600/mth. Then I got another letter in janruary of this year that said the interest would raise to 12.75%. The asked me to sign a piece of paper consenting to this interest increase and of course I didn't. Now they said that the balance of the note is payable on demand. They want me to pay it all now. Can they do this??
" Payment due on demand, if no demand is made, $600 / mth beginning on 03/01/99. I have made my payments on time. I got a letter from them in 1/2000 that said they were goin to raise my interest rate to 11%. I thought they made a mistake so I ignored it and kept paying 600/mth. Then I got another letter in janruary of this year that said the interest would raise to 12.75%. The asked me to sign a piece of paper consenting to this interest increase and of course I didn't. Now they said that the balance of the note is payable on demand. They want me to pay it all now. Can they do this??