I need advise, I lost my job and was unemployed for 4months with the month i was dismissed i had made a loan from a friend who was at the time lending money. With 50% interest. I’ve recently got a job and ever since I am paying what i can afford and cutting all my other expenses to finish paying her off. Ive paid the amount borrowed, however she increased the amount to triple the amount and is now threatening me that she will expose me. She won’t accept my current amounts paying. Please no rude comments as I am already emotionally and financially drained. Is there anyone on this group that has gone through this before or have any legal advise for me? I am not looking for sympathy I really just need advise
She’s not a friend . Imagine adding interest on a loan to a friend who is already struggling . You’ve paid her back the amount borrowed you don’t owe anything else. Look for a better friend as he/she isn’t it x
Always get everything in writing. Friend or family.
U have a written contract
I would get rid of the “friend”, and never look back!!
Did you sign an agreement or anything
You paid her back the money, I’d walk clean away
OK let me ask you this. Is it something that you signed a contract for? Because if not, I wouldn’t even worry about it anymore.
Get a new friend! That is not a friend!
I hope you have a written contract and also receipts. Not just giving her cash. That way if you was to go to small claims. I think after all this if it was me I would probably not associate with her anymore. Good luck on everything.
What friend puts interest on a loan ….?
If you have a written contract I’d abide by that and that only. Once that’s taken care of, cut this toxic person out of your life and let them “expose you.” It won’t make a difference to the real people in your life, they should know you better.
1st and foremost she is no friend period.
Give her every cent you owe her and wash your hands clean of that lady
Ew…. I can’t imagine preying on people let alone a friend when they are struggling like that
Only gotta pay what was originally agreed upon now if this wad just by word of mouth could be a fight
So you agreed on a specific amount, to which you paid. Unless she can prove you agreed to more than the amount you paid, she can’t do anything. She sounds like she’s just trying to drain you and not give two craps about your friendship. Also if you feel the need, consult a lawyer, they usually do free consultations.
Unless there is legal documentation your debt is paid and the friendship is dissolved!
I would get a cashier’s check mail it certified make her sign problem solved
If you paid her the original amount. And you didn’t sign nothing. you should block her. What kind of friend does that?
That’s not a friend luv, plain and simple! Pay her what you borrowed and cut your ties, her threats mean nothing and she is just trying to bully you. Let her tell her lies because she will be the one looking a fool when they realize she’s a liar. I’m so sorry you are going through this, but seriously cut her loose and stay focused on a better you .
Not much she can do without a signed contract
What kinda friends asks for 50 percent interest ,not a friend .
Give it to her with a little extra, and thank her. And if she doesn’t take it, screw her.
Some friend! Tell her to
Take a long walk on a short
Friend? I think not. At least not anymore.
Doesn’t sound like much of a friend. If you have paid the amount first agreed upon I’d call it a day, and I wouldn’t pay her anymore. And I would be done with this “Friend”
An agreement is an agreement no matter what you are going through right now. You aren’t able to comply to the agreement made? Then you talk about it.
But, If you’ve owned up to the agreement made at the time then it’s time to do it moving cause she isn’t a friend. You did your deed right? All you say now is bye girl!
If you’ve paid off the amount I think you’re good. People are struggling and she’s lucky she got repaid in full. Does she like to see you struggle?
Not friend and not a legal contract. Cut ties and if they try for small claims court it won’t go in her favor.
Small claims case and it’s against the law to be a shark and charge that amount
First, that’s not a friend! A friend wouldn’t take advantage of you when going through a hard time.
Second, if you paid the loan amount then it’s settled.
Third, 50% interest!!! That’s absolutely insane!!! A big corporation wouldn’t even charge that!
If you paid the initial agreed upon out…then you don’t anything else…and what is she exposing…that you were in hard times and needed a loan…oh ok…let her tell it…you paid what you owe…anything else is just her talking
1 - did you sign something saying it was at 50% interest loan?
If yes- she has a leg to stand on and unfortunately you made a decision at the time that is not an issue and you owe it. If you made a verbal there is there a recording and check your state laws
2- if there is not written contract what does she have that will expose you?
I mean if it being tripled wasn’t agreed upon when the loan was made, then they don’t have a leg to stand on, legally speaking. Pay what you agreed to pay and leave it at that. Just be sure to get proof of your payments. If she refuses to accept them, that’s on her.
I’d use that term "friend "carefully. She doesn’t sound like a friend.
Print all conversations it’s easier to read through them that way ,try to get her to admit to the original agreed deal in text if she hasn’t already .File in small claims , explain your trying to pay a debt and the person is refusing payments and trying to extort you for more .You’ll pay them they’ll pay her .
Legally with nothing in writing yall can take each other to small claims court and waste more more money ,chances are she’s is just being a bully to get more money because you have shown your afraid of whatever she has on you and she’s bluffing ,you referred to this person as a friend … this person is not a friend but a heartless narcissist is what it sounds like to me … big prayers and lots of hugs ,remember what goes around goes around.
Did you sign a contract of any sort??
She is not a friend. She is a loan shark.
50% interest is against the law.
This is why this situation sucks lending money to friends or getting it lent to you. Never seems to end up well
Does she have a money lenders licence ? If not its illegal for her to lend in this way. Perhaps you can both sit down and discuss her breaking the law…not you…and work out a repayment plan for the original amount plus reasonable interest. If not…im sure the police would love to catch another illegal money lender …then find better friends
That no friend. I’m curious sorry but what does she have you kn that she feels is worth the bribe to “expose” you?
50% interest is extortion and not something you do to a friend.
Ahh is their a legal contract you agree to sign with interest amount documented ? You legal have no obligation at this point
as a friend I would just hope I got the money that I loaned back to show that they are also a good friend
If she’s making money from loaning money and is not registered etc she can get prosecuted
Tell her to take a flying leap. Get in touch with an attorney.
If there’s no contract and you’ve already paid her back the amount she gave you id tell her to shove it… no friend would do that. Its honestly embarrassing for her to do that to you. If it’s not in writing then
I would also assume if she charges you interest, she would have to claim that her taxes. If not, report her to the IRS, if she’s gonna act like because that’s NO friend!
Put the money in escrow and let her take you to court
is such a thing called Usery Laws. Do
In life if you are making an effort to pay they work with you. I would get some legal advice. But some friendly advice NEVER borrow from a friend (?) again.
People are saying she isn’t legally allowed to charge 50% interest. Look into that and if so show her the proof that she isn’t allowed to do that and then threaten to expose her or prosecute her for breaking the law. If you already paid the amount borrowed back stop and if she exposes anything follow up with you already paid it all back and how she is doing illegal things. I doubt she would win if she takes you to small claims court since she got back her money.
Stick to your agreement with her, let it be a lesson learned to never take a 50% interest loan. That’s ridiculous especially from a friend, friends usually give no interest loans.
Simply don’t pay her. She’s not a friend to do that. She can’t harm you. Let her expose you and just tell whoever she exposes you to exactly what happened. Nobody is going to side with her.
Time to cut ties with that friendship.
This sounds kind of like extortion…which is illegal.
I would say nope there is no court that would make you pay that much in interest. I’ve loaned out money I’ve never charged interest. I don’t believe that she is a true friend at all I’d cut ties with her
If you agreed to 50% interest, then you agreed to it. Not triple. But, since she’s trying to extort you and you’re paid up on the original loan, stop. She’s “going to expose you” to who?!?! Who cares what other people think! And expose her for being a loan shark.
I would have just paid what I borrowed and then I’d find a new friend. She clearly isn’t one.
Expose you to who? She can’t take you to court & win because that’s usury so who cares what she says. P.S. Stop calling her your friend because friends don’t treat friends this way.
You paid her and then some block her. Who cares who she tells
That doesn’t sound much like “friendly” behavior to me…
Screenshot it all. No one can look at you sideways if shes just trying to extort a loan like that
Did you sign a note or contract for repayment when you borrowed the money? Did you have a verbal agreement about repayment? If you did, you are bound by the terms of the contract. If you have already repaid the amount that you agreed to pay, what can she be holding over your head?
You may want to reach out to a lawyer if this is a large amount of money.
I mean, unless she’s got documentation of you guys agreeing to this she can’t really do anything anyways. Definitely pay back what you agreed to but she can’t just change terms in the middle. Let her expose you. To me if someone did this, I would think what a iot but also how crappy to charge a friend that much extra who needed help. Keep proof you are paying her and do so timely. She helped regardless.
Here for the comments will we hear the conclusion of this story because I’d like to know how this ends…
If its not on paper its her word against yours… n thats not a friend girl ! Id tell her. Were adults…you stick to your word and ill pay you as i said. Then friendship is over…even asking double back is not cool. Id tell her…try me woman ! Ill pay what we agreed on then get lost !
Find better “friends”.
If you have it in a signed contract, you may be stuck. You could see about a consolidation loan from another lender at a lower interest rate. If nothing has been signed, I’d tell her too bad and walk away
She’s not your friend. If you’ve paid back the a.ount agreed upon, let her expose you .
Real friends will ask your side and stick by you.
Then, politely let her know that this has hurt your friendship too much to continue with it. That way, you’ve done no wrong and your hands and conscience are clean.
Sorry you’re going through this. Prayers.
Let her “expose you” as all she is really going to do is out herself as a terrible person/friend. If she’s honest, people will see that was a sh*tty thing to do to a friend. If she lies/embellishes, you may have a defamation/slander claim against her.
Lending/borrowing money from friends or family is a terrible idea 95% of the time. Sorry you were in that position and that your friend is taking advantage!
Usury laws are set up in the U.S. per state to cap the amount a lender can charge you for interest. Credit card companies have an exception to this process, and they can charge interest based on the state they are incorporated in. But as a lender who is lending personally we recommend you stay within the usury laws of that state. You can find them by searching the state gov websites.
If her triple increase isn’t in writing then she has nothing to stand on and she will be outing herself more than anything. Keep track of your payments and cut your loss. She’s not a friend she’s greedy.
By “exposing” you what does this do? Let others know you borrowed and paid. Not what she’s attempting to threaten you with. Let her “expose” her true self. That’s all that’s gonna happen.
I’d pay her back the amount I borrowed and go on about my day
Pay wha u owe her and move on
Have you got proof of how much you borrowed and paid back… If you do she can’t do anything. It’s done. Next is to get rid of her
The only thing I can say I hope you got the agreement in writing, and proof of payments. If not you can be screwed if your “friend” takes you to court. It is very unwise to borrow money from friends to begin with.
Well sounds like to me she isn’t a friend a friend would not do that to you at all. I’d I was you if she didn’t write Anything up and u have already paid her what you owe her I would cut my losses with her and be done with her. No true friend would do this to you. And if she wants to expose you get her for harassment.
You both agreed to 50 percent interest so you pay what you borrowed and 50 percent of that. Did you sign loan paper? Whoever you’re friend is really isn’t a friend whoever is a loan shark
Expose you for what? Not paying her outrageous interest? I’m thinking it’s only a threat if she has any decent mess she’d be embarrassed to admit she’s doing that to someone she calls a friend…I say you’re made in full and if she desires she’s no longer your friend….good!
If there was no written contract and you already paid her what you borrowed. Then the deal is done. She can take you to small claims court, and you prove your case.
Unless you got some kind of legally binding contract, pay her what you agreed to and then block her on everything. Keep copies of all the payments made to her but I think she’ll find it impossible to take this to court if you’ve paid what was originally borrowed let alone what you agreed to. If there is some kind of written document then I’d contact a lawyer.
Well that’s called LOAN SHARKING and is illegal lol she can legally charge you interest, but not that amount.
Extortion and blackmail is frowned upon and at this point can we really call her a friend? Maybe this person should be called Johnny/Jenny 6 fingers
Let her expose you and cut her off. No shame in having to borrow money in your situation. A lot of shame for her taking advantage of a person in need.
Here’s the thing with interest. It adds up quickly. What were the terms of the agreement?
If you borrowed $1,000 and agreed to a monthly interest rate of 50% , and it took you 6 months to repay her, you’d owe her $4,000.
This person is not your friend. Those are absurd terms.
That’s no friend. Friends would not do that to you. You pay what’s owed and that’s it time for a new friend
Do you have a contract with her? Like in writing /text? Saying you agree to pay that amount later ? If not i would block her n move on🤷🏼♀️
Friend??? Nahhhhh that aint no friend
Sounds like a horrible “friend”
She’s not a friend. Once she’s paid cut ties for good
Block her. Delete her number. Get a restraining order if she won’t stop. SHE IS NOT YOUR FRIEND.
There is no such thing as debtors prison. There are limits on interest charges. Cut her off, block her and if she sues you show up in court with receipts.
If there’s no written or verbal agreement then she will get laughed out of court. You’ve paid what was agreed and the courts will support that. She can’t change the rules after the fact and she knew your situation. If she threatens court then tell her to get on with it. She loses, she’ll have to pay your costs too. And cut her off. No more ‘friendship’ here, not that she every really was in the end
Do you have a contract in writing signed by both of you?
If you didn’t sign anything, she hasn’t got a leg to stand on!
Sounds like she was never really your friend