Home Legal Projects Michigan Draft a Repayment Agreement in Michigan | 1 Proposal

How a Consumer Hired a Lawyer to Draft a Repayment Agreement in Michigan

See real project results from ContractsCounsel's legal marketplace — this project was posted by a consumer in Michigan seeking help to draft a Repayment Agreement. The client received 1 lawyer proposal with a price of $600 flat fee.

Service type
Draft
Document type
Repayment Agreement
Location
Michigan
Client type
Personal
Client industry
-
Deadline
A week
Pricing Range
$600 (Flat fee)
Number of Bids
1 bid

How much does it cost to Draft a Repayment Agreement in Michigan?

For this project, the client received 1 proposal from lawyers to draft a Repayment Agreement in Michigan, with flat fee bids ranging from price of $600 on a flat fee. Pricing may vary based on the complexity of the legal terms, the type of service requested, and the required turnaround time.

Project Description

In 2026, a personal client in Michigan sought assistance with drafting a repayment agreement. The client was facing a significant financial arrangement surrounding a gift from their fiancé's mother, which stipulated a repayment of $200,000 should the client and fiancé experience a breakup or divorce in the future. The objective was to formalize the conditions under which repayment would be required, ensuring clarity for both parties involved. As a result, the client received one proposal from a licensed lawyer, with a flat fee bid of $600, submitted to meet the client's deadline of one week.

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Forum Questions About Repayment Agreement

Repayment Agreement

California

Asked on Dec 19, 2024

Can a repayment agreement be enforced if it was made verbally and not in writing?

I recently loaned a significant amount of money to a friend in need, and we agreed on a repayment plan where they would pay me back in monthly installments. However, we did not put this agreement in writing, and it was purely a verbal agreement. Now, my friend is refusing to make the payments, and I'm wondering if I have any legal recourse to enforce the repayment agreement even though it was not formalized in writing.

Dolan W.

Answered Dec 31, 2024

I'm so sorry about your situation! My name is Dolan. The answer is yes. Under California law, a breach of contract occurs when one party fails to fulfill a legal duty the contract created and causes damages for the plaintiff. (California Civil Jury Instructions Number 303.) The measure of damages is the amount that will compensate the aggrieved party for all the detriment caused thereby or likely to result therefrom. (Cal. Civ. Code § 3300.) Parties can also seek '"specific performance" of the agreement under section 3388 of the civil code. This applies regardless of whether the agreement was written or done orally. Typically, the aggrieved party is entitled to be returned to the same position they were in before the breach. My recommendation? Consider sending a demand letter. I have a template I drafted that you can use here - https://www.contractscounsel.com/t/document-form-checkout/119 Best of luck to you! So you can send this in any way want. It can be text, email, certified mail, or in person. I usually send letters via email because it’s faster and cheaper.

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Repayment Agreement

Massachusetts

Asked on Jun 25, 2024

Can a repayment agreement be enforced if there was no written contract or agreement?

I recently borrowed a significant sum of money from a friend to cover some unexpected medical expenses. We agreed verbally that I would repay the loan in monthly installments over a period of one year, but there was no written contract or agreement. Unfortunately, due to unforeseen circumstances, I am now facing financial hardship and am unable to make the agreed-upon payments. My friend is threatening legal action to recover the loan. Can they enforce the repayment agreement even though there is no written contract?

Laura H.

Answered Jun 28, 2024

If the final payment was scheduled for more than one year after the agreement was made, Massachusetts law generally requires a written document. Texts or emails are considered writings that may be used to fulfill this requirement. However, there may be an exception if the parties began performance. A local attorney can review the evidence to provide specific advice.

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