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03-10-2008
| | Junior Member | | Join Date: Mar 2008
Posts: 1
Rep Power: 0 | |  Breach of Contract and Collection
I have an agreement, written contract, with an individual to pay me a specified amount of money (appx 17K), on a specified date, based on an investment I made with them. He set up a sole proprietorship, not a corp or LLC, and I gave him a check made out to the company name. Both of us are in Texas.
The date of the scheduled payout is almost one year ago. We have an additional agreement to cover late fees (additional interest) in a specified amount (appx $35) per "business day" since the originally scheduled payout date.
The individual is offering me a partial payment and wants it to be applied to the original amount due, thereby reducing the amount of future late fees being accrued.
I have 2 questions.
1) Is it customary for any partial payment to be applied first to late fees or to original balance?
2) What steps can I begin to take to collect the entire outstanding amount, I'm assuming through a judgement? | | Domain Names Sponsor |  | |
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