If my friend is in debt to me and I can get them to sign a notarized agreement, can I use it in court?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my friend is in debt to me and I can get them to sign a notarized agreement, can I use it in court?
A friend owes me a large sum of money, he promised at the time to pay it back. Now he is saying that he is willing to pay it back, but it will be over a very long time. Since no written document was established in the beginning, can I make up an agreement, that suits both of us saying he needs to pay a certain amount monthly and have him sign it and notarized after the fact? If he does agree would that stand up in small claims court if he neglected the contract?
Asked on June 29, 2012 under Bankruptcy Law, North Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
You are on the right track concerning your friend that owes you money who needs time to pay you back. What you need drawn up is a "promissory note" setting forth the amount owed, a reasonable interest rate for repayment such as 3 % per annum on the principle, so much paid per month and when such is due.
If you have a local legal aid clinic, you should contact it for assistance regarding your matter.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.