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unacceptable interest

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1 unacceptable interest on Sat Oct 09, 2010 3:32 pm

lexlex


Arresto Menor
atty, this is a counter proposal a received from the lawyer of the person i issued my checks.. I already made partial payment and only one check is not yet paid but he doesnt want to return the checks even i already offered to pay the face amount of the check. I deposited my partial payment in his bank.

this is the proposal:

Per our conversation, here is our clients counter proposal to your draft memorandum of agreement:

1. pay our client the amount of 60th representing the unpaid balance of the principal amount you received from our client.

2. Per you computation, our client is suppose to receive interest of at least 1th per day, or at least 30th per month. Our client money was supposed to be returned, with interest, by July 2010. This did not happen. Our client is therefore demanding interest from July 2010 up to date of full payment, at 30th per month or 120th from july to october 2010 and 30th per month thereafter. We will appreciate full payment on ot before Oct 31, 2010.


3 Attorneys fees of 20th also payable on or before oct 31, 2010

4. Upon full payment as aforementioned, our client will return all your clients checks and waive any all claims against her/them. Your client shall also waive whatever claims she they have against our client.

Should u need clarification, please do not hesitate to contact me.

This is a proposal sent by his lawyer..

atty, how am i going to answer this?

1. there was no agreement of 1th per day
2. no written agreement as to the interest
3. Im willing to pay the face amount with the legal interest per month.



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2 Re: unacceptable interest on Sun Oct 10, 2010 1:31 pm

attyLLL


moderator
answered your pm. you will need to answer this letter stating that there was no agreement on interest and lawyer's fees and reiterate that you are ready to tender payment if they are ready to issue a quit claim.


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3 Re: unacceptable interest on Wed Oct 20, 2010 1:59 pm

lexlex


Arresto Menor
atty, sumagot yung atty nila sa proposal ko verbal, ayaw tanggapn yung 60th, iniinsist nila yung interest, and if i deposit the 60th, di pa rin nila ibibigay yubg check ko.

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4 Re: unacceptable interest on Thu Oct 21, 2010 12:19 am

attyLLL


moderator
was your proposal made in writing?

i recommend you deposit the amount of the check since you owe it to her anyway. unfortunately, this may not deter them in filing a case, but it will be the basis of your defense.

you had five banking days after written notice was given to you to fund the check, but you can argue that they were asking for more than the face value of the check so you did not do so within 5 days.


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5 Re: unacceptable interest Today at 2:09 pm

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