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Term Sheet Review — SAFE vs convertible note comparison

Started by newbie_renter_2026 · Aug 7, 2024 · 1,140 views · 5 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
NR
newbie_renter_2026 OP

Quick background on my situation — any input appreciated.

SAFE vs convertible note comparison. I've been dealing with this for about 16 months now and the situation isn't improving.

I have already consulted briefly with a lawyer but the other party is not cooperating.

What are my legal options here? Is it worth pursuing?

DN
DataPrivacy_Nerd

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.

TL
Mod_TermsLaw Moderator

Licensed attorney — a few thoughts. Here's my take on the legal issues.

The legal framework here involves both federal and state law. At the federal level, the relevant statute. Your state may provide additional protections.

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

NH
need_help_homeowner_advice

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.

ES
eComm_Seller_2022

Been there. Here's what I learned.

The biggest mistake people make in this situation is hiring an attorney to send the initial letter. I'd recommend being patient with the process instead.

PJ
Paralegal_Jen

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

In my case, it took about 4-8 months to resolve. The key was filing with the appropriate government agency.

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