Can someone force me to sign a promissory note days after they voluntarily paid some of my bills?
3 attorney answers
The word Mr. Areshenko and Mr. Dolan are looking for is "usurious." The maximum allowable interest is 10% per annum. 18% per week is absurd.
Definitely don't sign anything--especially because she is depriving you of an opportunity to seek aid available to low income individuals by paying on your behalf.
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The interest rate is totally, legally improper and unenforceable. Your story doesn't make complete sense, like how you would drive if your "friend" is holding your license and registration as collateral, Those documents have no value to her but destroy the whole point of borrowing the money.
The above is general legal and business analysis. It is not "legal advice" but analysis, and different lawyers may analyse this matter differently, especially if there are additional facts...
She cannot charge you 18% a week interest or force you to sign a promissory note. It goes without saying however that you should promptly pay this person back because they definitely went out on a limb for you.
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