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Agreement of Loan

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1 Agreement of Loan on Sat Apr 13, 2013 6:40 pm


Arresto Menor
Good Day!
i am a newbie here and my mom and i are having problems now hope there would be someone will be able to help me,,,

me and my mom enter in a contract of loan with my freind as the lenderand we as borrower,,, and my mom and i agreed in her terms the she given that we will pay for 10% a month from the principal amount, in thingking that she will honor the verbal agreement that we agreed beforehand that the contract will be just formality,,, as we receive the money amounting to 500k and we used it in our business we were able to pay her in first 6months and unfortunately on our 7th month we experience down in business because of external factor which we never expected then we talk to her if we can just pay her a fraction but she didn't agreed she even ask again the service of the lawyer who makes our agreement which shes asking us to pay her or else she will sue us, she even ask her foriegn boyfriend to collect the money and her boyfriend were so mean that he always go to the store of my mom and shouting that my mom are not paying her debts in her and that he will bring policemen and will bring also my mom to camp crame,,, and now our agreement will be ending on this coming may,,, we never said to her that we will never pay her but we are just asking her to give us time so we could be able to pay her we dont have any collateral,,, and we just keep quit and maintain our grounds even shes bombarding us bad txt messages,,,, hope somebody can help us,,,

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