Legal Question in Credit and Debt Law in California
i lent my ex husband quite a bit of money and altho he was once very conscientious about paying it back, he has now decided he'll do it on his terms..like when and what he chooses.
we have nothing signed formally but he did sign a letter stating his indebtedness to me for his taxes;
i have all the records and receipts regarding the loans, but i was wondering if there is any legal action i could take to ensure a stated amount each month is paid in a timely matter.
thank you
1 Answer from Attorneys
It would be a good idea to get a new written agreement from him that acknowledges what the total debt is, and states what the payment terms will be.
One thing you need to look out for is the Statute of Limitations. If 4 years elapse since the latter of him signing an agreement to pay, or making the last payment, then you may not be able to legally collect from him.
If he isn't willing make an agreement to start making regular payments, you could file suit against him.
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