Utang without any written agreement
1 Utang without any written agreement on Tue Jun 14, 2011 12:00 pm
2 Re: Utang without any written agreement on Tue Jun 14, 2011 7:27 pm
In case he physically attacks you, you have the right to defend your self. Avoid that situation however especially because you are relatives. Better approve a common relative, preferably one who is older and more authoritative than both of you to mediate. You can bargain (or beg if you have to) from your well-0ff relative that he fore-go the interest already. Do your best to pay.
The law provides that your verbal contract of loan is valid but the interest can not be enforced in case of a suit in court. The agreement as to interest must be in writing. It is best however not to argue about this (when you are not yet sued in court) as long as your cousin will agree not to collect additional interest anymore.
I pray for the resolution of your problem. God bless you.
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