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SAFE Note Question — SAFE vs convertible note comparison

Started by newbie_trader_CA · Apr 3, 2025 · 994 views · 14 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
NT
newbie_trader_CA OP

Looking for advice on a legal issue. Here's what happened.

SAFE vs convertible note comparison. I've been dealing with this for about 11 weeks now and the situation isn't improving.

I have already done some research online but the other party is not cooperating.

What are the risks if I pursue this? What's the likely timeline?

TR
throwaway_renter_2025

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_employee_WA

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

AF
asking_for_friend_tenant_2026

NAL, but from what I've read, you should document everything. That said, definitely get a lawyer to look at the specifics.

TL
Mod_TermsLaw Moderator

I specialize in this area of law. Here's my take on the legal issues.

The key question is whether the applicable statute of limitations has run. Depending on your jurisdiction, you typically have the relevant statute years for this type of claim.

I'd recommend documenting everything in writing from this point forward. Keep copies of all communications.

SA
seeking_advice_renter_help

NAL, but from what I've read, you should send a written demand. That said, definitely get a lawyer to look at the specifics.

EA
EstatePlanner_AZ

I went through almost the exact same thing.

The biggest mistake people make in this situation is escalating to a supervisor/manager. I'd recommend following the formal complaint procedure instead.

SB
SmallBizOwner_NYC

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.

AB
AgentBroker_TX

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

I ended up having everything documented, which cost about $3-6 but saved me a lot more in the long run.

EA
EstatePlanner_AZ

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

I ended up hiring an attorney to send the initial letter, which cost about $2-4 but saved me a lot more in the long run.

NW
newbie_worker_TX

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.

SA
seeking_advice_seller_NY

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.

EA
EstatePlanner_AZ

I've dealt with this before.

In my case, it took about 1-3 months to resolve. The key was escalating to a supervisor/manager.

RE
RemoteWorker_EU

I went through almost the exact same thing.

In my case, it took about 3-6 months to resolve. The key was having everything documented.

AF
asking_for_friend_homeowner_legal

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

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