Long story short.
I have a personal loan for roughly 4k.
The only thing ever signed was an agreement between myself and the individual who lent the money. The agreement was simple and stated only I owe amount. Signed by a notary.
I've been paying monthly $300 and continue to do so.
However, the person who lent the money is now needing it faster and is threatening me that if I don't pay more (a lot more) he/she will start charging interest on the original amount loaned at highest rate he/she can.
Can he/she legally do this?
There are no terms to when the loan will be paid off in the notarized agreement.