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Promissory Note for Loan

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  • Promissory Note for Loan

    My sister loaned my ex and I almost $30,000.00 to pay off debts. We did not have an Agreement or Promissory Note drawn up. My lawyer wanted proof of the payment of debts that my sister made and I gave her all of the documentation at the beginning of the separation.
    At the last settlement conference she noted to me that because there wasn't an agreement drawn up the court would not accept it.
    If I draw up a legal Promissory Note and have it signed by a Notary Public, will that be accepted by the court? I really need some legal advice as I am being left with all of the debt in this case, that I have to pay back.
    PK

  • #2
    Promissory Note

    No one has responded to my posting on Promissory Notes. Please, does anyone know if my sister gets an Agreement now or we have a Promissory Note drawn up, will that be accepted by the Court for the debts that were occured during the marriage. I go to court in 12 days and I really need some advice.

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    • #3
      Hi PrincessKatie,

      Sorry for the late response.

      Unfortunately, IMO, I don't think drawing anything up at this point will help. While I'm sure that your sister did indeed lend you and your spouse the money, the court would find it pretty convenient that a recently dated note (after separation and what seems to be a drawn out contested proceeding between you and your spouse) would be turning up rather than an agreement dated from the time the loan was made.

      Lindsay

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