loan repayment
Date: Thu, 03/14/2013 - 07:52
loan repayment
In Sept '09 I borrowed $40k from a friend and signed a promissary note. The terms were 2% annual interest for 3 months: 5% for 3 months and 10% there after. I paid back $40,800 after 2 months. I just realized my error as I should have only paid back $40,133My "friend" will not return the overpayment and I am taking her to small claims court. Question, Can I sue her for the difference plus interest and and can terms of the interest be the same as she offered me?
Personally I think the judge
Personally I think the judge will throw it out of court just based on stupidity. You where smart enough to write a prom note but not smart enough to run the interest rates properly. It was YOUR error. You were lucky enough to have a friend to lend you that type of money. Chalk it up to a lesson learned.
