Verbal Agreement. Can Terms Change?

Hello;

I made a verbal agreement in 1989 to accept a large loan and eventually pay it back . The amount left owing is still large. The person i borrowed it through(daughter) was speaking on behalf of her mother(whom the loan came from) when she said that the loan could be paid back when I had the money to pay it back. The mother is now in a long term care facility, as she was at the time the daughter reverberated the simple loan terms of not having to pay it back until I had the money to pay it back. Since this time I have had bad relations with the daughter so I was not surprised when the other day I received a letter from the brother (the same mothers son). As administrator of her finances he is asking that I pay back the full balance of the loan over the next year at most. I have not the money to pay it back at this point, not even $100.00 of it. He is hinting at charging me interest on this loan if not paid promptly which was never in the original deal.

How shall I act in this situation? I want to be true to my word of paying it back reguardless of the daughters attitude, but I cannot do so over the course of the next year, and never understood that I had to. Can a verbal agreement terms be changed? If so can I change my terms as well and decide not to pay it back (rather not go that route).



Thanks so much for your help.

Try to set up some agreed payment plan.

If you all cannot agree it could go to court and a judge would impose something reasonable.