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    Any UJ attorneys?

    Any guidelines for going after a cousin when he was loaned an insane amount of money and he is president/COO of his company? Attached wages? Bueller?
    And the truth shall set you free.

    #2
    Was this a "gentleman's agreement" or did you have a signed contract and note?

    All the best,
    GJ

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      #3
      Originally posted by gjnl View Post
      Was this a "gentleman's agreement" or did you have a signed contract and note?

      All the best,
      GJ

      The former.
      And the truth shall set you free.

      Comment


        #4
        Depends on the state but if it is a large amount of money your first task is to find a good attorney in your area to represent you. Go to Martindale Hubbell on the Internet and look for av or at least bv rated attorneys who practice commercial litigation or collections.

        Probably you are going to have to sue him for the loan amount plus statutory interest from the default date. Once you get a judgment, you will be able to execute the judgment against whatever assets he has and I would guess be able to garnish a portion of his wages. If he owns his company, you most likely could execute against his ownership interest.

        But each state has its own rules so I am just guessing.
        2012 SCINetUSA Clinical Trial Support Squad Member
        Please join me and donate a dollar a day at http://justadollarplease.org and copy and paste this message to the bottom of your signature.

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          #5
          Thank you for the insight.
          And the truth shall set you free.

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            #6
            Don't loan family money!
            Aerodynamically, the bumble bee shouldn't be able to fly, but the bumble bee doesn't know that, so it goes on flying anyways--Mary Kay Ash

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              #7
              Yep, I agree November, but I do it all the time haha Haven't been torched yet, but I only lend to immediate siblings, not cousins.

              Good luck Joe.
              Originally posted by november View Post
              Don't loan family money!
              Please donate a dollar a day at http://justadollarplease.org.
              Copy and paste this message to the bottom of your signature.

              Thanks!

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                #8
                Just a thought: my hubby is president of his company and he has yet to earn a nickel. All income goes to pay salaries/avoid layoffs. His income he gets from consulting on the side.
                I feel for you though. I would try anything to avoid litigation, I would be a pest, call, invoke his sense of honor, arrange for monthly installments...

                Comment


                  #9
                  Originally posted by Cripply View Post
                  Just a thought: my hubby is president of his company and he has yet to earn a nickel. All income goes to pay salaries/avoid layoffs. His income he gets from consulting on the side.
                  I feel for you though. I would try anything to avoid litigation, I would be a pest, call, invoke his sense of honor, arrange for monthly installments...

                  In addition to the hard feelings, litigation is expensive. But you need to know your rights as well as when you would lose them because of a statute of limitation.
                  2012 SCINetUSA Clinical Trial Support Squad Member
                  Please join me and donate a dollar a day at http://justadollarplease.org and copy and paste this message to the bottom of your signature.

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