pls enlighten me.
i have a loan from a friend without agreement but just on a small piece of paper and checks. now, i still wasn't able to pay the principal amount because i lost my job. i was only able to pay monthly interest. my friend wanted me and actually forcing me to sign a notarized agreement that i will pay in 1yr the principal amount with interest plus the balance from the previous term which made my debt triple, he said that if i will not give him a notarized agreement, he will sue me for bouncing check and estafa. i told him that im not running away from my obligation i am willing to pay him but not the triple amount because i lost my job and have no income now and i am not sure if i'll be able to fulfill (in 1yr) the agreement that he's insisting and forcing me to sign. i begged to allow me to pay only the principal amount (installment) but he refused. he said i have to sign the agreement or else i will have a case. some friends told me to just let him file me a case since the court will be the one to order me to pay only how much can i afford. should i sign the agreement or just let him file a case against me? pls. enlighten me, thank you and God bless.