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TanyaLBR · Dec 26, 2011, 01:53 PM

Please help a friend did pay for my previously owned jeep, not by my request but because she had a ton of money and felt that my interest rate was too high. I excepted her offer, even though I did ask for it. Everything was going on well but then the economy tanked my husband loss his job and we were on the verge of losing our home and I could not make the 400$ a month payment to my friend, she would not lower the amount and make it easier for me to pay her. Time pasted and she knew how much we were struggling and she said forget about paying me just take care of yourself. Now 2 years later she's sueing me for the money. The debt was gotten in 2005 July is there a staute of limitations in the state of ny. Can she verbally cancell the loan and then when things get tight for her reinstate it. Please help

Fr_Chuck · Dec 26, 2011, 02:15 PM

Where is the jeep now, did you not turn it back over to your friend when you could not pay?

So if I had this correct. You were buying or paying for a jeep, you friend wanted to help you, pay less interest so they loaned you the money?

You bought a jeep and then could not pay.

You keep the jeep but just stopped paying them.

Now you want to repay their kindness by getting out from paying them, hoping that a SOL has ran out,

** an old saying no good deed goes unpunished

The time for this starts from the date of the last payment, not the date the money is loaned. It appeared to be three years so if it has just been two, yes the may sue you for the money you owe them.

TanyaLBR · Dec 26, 2011, 02:36 PM

To FR Chuck I appreciate your answer however may I add that Ipaid them 14K of the 20K I was doing my best to pay them they didn't want the jeep, nor would they make the payment more reasonable for me to be able to pay them. Then they said forget about it just it take care of yourself. I called them on several occasions in an effort to make it clear that I had all intentions on paying them their money, but they would not return my calls for two years. So my question is can they cancell a debt and then reinstate it just like that?

TanyaLBR · Dec 26, 2011, 02:40 PM

Is it a conflict of interest for an attorney to of a mutual friend, give you advise to do something, and then when things go wrong represent the mutual friend against you. Please help

JudyKayTee · Dec 26, 2011, 02:44 PM

Was it PAID advice, "what do you think" advice, something in between?

Where?

JudyKayTee · Dec 26, 2011, 02:46 PM

Written agreement or verbal?

And, yes, no good deed goes unpunished.

The Statute runs from the last payment on the loan - when was it made?

(I'm in NY)

cdad · Dec 26, 2011, 03:46 PM

Have you looked at your credit report to see how it is being treated? It may show as a settlement. If it does then they can't come back on you.

Fr_Chuck · Dec 26, 2011, 04:21 PM

This was a private loan, friend to friend, I doubt it was reported. And of course you could have keep sending them money instead of the 400. Since this loan appears to be verbal, what do you have in writing to prove this is what they said. They can say of course they only meant that you wait to pay till you get caught up. So yes they can do this, you can of course try to say they forgave the debt, but have nothing to prove it.

ScottGem · Dec 26, 2011, 04:25 PM

First, if you have a follow up info or question, please use the Answer options below rather than start a new question. I've merged your threads for you.

Second, without anything in writing cancelling the debt, it may be hard to prove that it was cancelled. The SOL on personal loans in NYS is 6 years. So if you stopped paying 2 years ago, it is well under the SOL.

Have you tried to offer a settlement?

JudyKayTee · Dec 26, 2011, 04:42 PM

Originally Posted by TanyaLBR

To FR Chuck I appreciate your answer however may I add that Ipaid them 14K of the 20K I was doing my best to pay them they didn't want the jeep, nor would they make the payment more reasonable for me to be able to pay them. Then they said forget about it just it take care of yourself. I called them on several occassions in an effort to make it clear that I had all intentions on paying them their money, but they would not return my calls for two years. So my question is can they cancell a debt and then reinstate it just like that?

They don't need to be what you consider to be "reasonable." You borrowed money and promised to pay it back. You didn't pay it back.

Just so I have this straight - you told them on several occasions that you had intentions of paying them the balance. Two years later you haven't paid because they didn't return your phone calls? Was returning phone calls part of the initial agreement?

Was this a written agreement (if so it can be changed only in writing) or an oral agreement?

This is within the statute, so that's not a reason not to pay them back.

Inability to pay a debt is not a legal reason NOT to pay a debt. I am only surprised that they waited this long to sue.

I am not unsympathetic. Times are tough. It's a terrible economic environment right now. I would suggest that before you go to Court you decide why you didn't pay and stick to it - one true version. Your statement, "... a friend did pay for my previously owned jeep, not by my request but because she had a ton of money... I excepted her offer [I assume you mean accepted], even though I did ask for it." On one hand you say she didn't pay by your request. On the other hand, you asked for the help. Stick with one story or you are going to look foolish in Court.