Got a personal loan from a friend (we are no longer speaking) a few years ago and it was agreed that I make monthly payments.
We have a written agreement that states the loan is to be paid off in Aug of this year.
I was paying $100 a month until this month.
Due to a financial setback, I have reduced my monthly payments to $50 a month.
I have about a $2500 balance left on the loan and cannot pay off the balance in Aug.
The friend wrote me a letter saying that they will not accept the $50 mo they payment and wants the $100 instead.
They are willing to extend the loan another 2 years but I cannot make the $100 payments any longer.
I wrote them stating this and enclosed my letter w/my last payment of $50.
The latest correspondence I received from them said that if I don't pay the $100 payments, they are going to take me to small claims court.
I am self employed, (dog walker), have no property or assets.
What can I expect the judgement to be against me if this goes to court?