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Convertible Note Issue — convertible note maturity extension

Started by help_me_parent_help · Oct 3, 2024 · 1,054 views · 9 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
HM
help_me_parent_help OP

I'm dealing with a situation and need some guidance.

convertible note maturity extension. I've been dealing with this for about 7 months now and the situation isn't improving.

I have already tried to resolve this directly but got conflicting advice.

Has anyone been through something similar? What worked for you?

FP
frustrated_parent_2025

I work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.

AT
anon_tenant_GA

Have you tried reaching out to your state's attorney general? They sometimes have free resources or mediation services.

FF
frustrated_freelancer_FL

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

AF
asking_for_friend_trader_OH

NAL, but from what I've read, you should check your state's specific laws. That said, definitely get a lawyer to look at the specifics.

PB
PatentAgent_Boston

Been there. Here's what I learned.

I ended up escalating to a supervisor/manager, which cost about $1-3 but saved me a lot more in the long run.

TL
Mod_TermsLaw Moderator

I practice in this area. Here's my take on the legal issues.

Based on what you've described, you likely have a viable claim under the relevant statute. The standard is whether a reasonable person would find the conduct actionable.

The practical consideration here is cost vs. potential recovery. For disputes under $10K, small claims court is often the best route.

TF
TechStartup_Founder

Not a lawyer, but I have direct experience with this.

What worked for me was having everything documented. It took 3-6 months but was worth it.

CA
ConsumerAdvocate

I've seen this play out several times in my field.

The biggest mistake people make in this situation is filing with the appropriate government agency. I'd recommend gathering evidence first instead.

HM
help_me_seller_2022

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

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