PROMISSORY NOTE

last year, a distant relative of my husband approached us with her two daughters intending to borrow money...one daughter needed 20,000 for her placement money kasi malapit na irelease yung mga papers niya for her deployment abroad...the other daughter needed 10,000 naman for enrollment ng mga anak... in short, my husband lent them the money after asking the two daughters to sign a promissory note each... the 20,000 is payable till march 2012 while the 10,000 is payable till jan 2012... it is now april 2012, ni isang singkong duling wala kami nakuha pa... after several follow-ups, all we got is magbabayad daw sila... now, my husband is asking them to give us a title to their property thst we could hold on to until they could fully pay us... pero hindi man lang kami inintindi... everytime we would ask for it, they would say.. oo hinahanap pa yung papel or dadalhin na lang sa yo... my husband is now fed up and plans to sue them pati yung nanay... how should we go about it? please advise... thanks in advance...

The wife has an accountability to a creditor, and confirm that she cannot pay the accountabilities. therefore, the husband made an agreement via promisory to note to shoulder the accountability of the spouse. The creditor suddenly cancelled the agreement due to delay in payment and issue a demand letter to the wife. Can the creditor file a case against the wife even if there was an agreement made by the husband and the creditor?

shirley, your recourse is to send a demand letter then file a small claims case. rules on sc.judiciary.gov.ph

vhince, does the promissory note say that the original payment terms are modified? if not, then he has the right to sue them both.

dear atty.. followup lang po sa kaso namin stated above... nabayaran na po kami dun sa 2 utang matapos namin sila ipa-barangay... kaso ang binayad lang po ay yung mga principal amounts lang na P20,000 at P10,000... nangako sila na yung interes ay sa june ibibigay... july na po tayo ngayon ay wala pa kami naririnig mula sa kanila... pwede po ba namin ituloy yung kaso laban sa 2 umutang sa amin? ano po ba pwede ikaso sa kanila - breach of contract or estafa na? pls advise kasi balak namin ay ifile na sila ng kaso by next week... thanks a lot in advance...