My jurisdiction is: TN
I loaned someone $3,000 for a down pymnt on a house, and our verbal agreement was that she would repay, in full, immediately after closing becuase she was going to refinance. Now I get the sob story, and she wants to pay $50/month, which I DO NOT agree to or accept. She's already mailed two $50 checks to me -- what should I do? I'm planning to get a judgement against her, but in the meantime, should I cash the checks, tear them up and send them back, send them back intact with letter (registered, certified, etc.)? Not sure what to do -- but I want to make sure I do the right thing to win the judgement against her. She did write a letter with the first check, where she admitted owing the $3,000 and not being able to pay it in full as we had agreed.
I loaned someone $3,000 for a down pymnt on a house, and our verbal agreement was that she would repay, in full, immediately after closing becuase she was going to refinance. Now I get the sob story, and she wants to pay $50/month, which I DO NOT agree to or accept. She's already mailed two $50 checks to me -- what should I do? I'm planning to get a judgement against her, but in the meantime, should I cash the checks, tear them up and send them back, send them back intact with letter (registered, certified, etc.)? Not sure what to do -- but I want to make sure I do the right thing to win the judgement against her. She did write a letter with the first check, where she admitted owing the $3,000 and not being able to pay it in full as we had agreed.
