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OnPointLegal, Attorney
Category: Business Law
Satisfied Customers: 545
Experience:  20+ years experience in business and intellectual property law
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Customer Question

I loaned the guy I''m dating money and he hasn''t made any payments in over 2 years. There is a contract which reflects penalties, etc. and now need to know what legal means I can use to recoup the loan, as our relationship is coming to an end. The additional problem is that I work for him. Please advise.
Submitted: 8 years ago.
Category: Business Law
Expert:  OnPointLegal replied 8 years ago.
OK, as far as the practical issue of your working for him... that one could be tough. I will give it some thought as we correspond.

As far as legal means to get paid back, it probably depends on what the agreement says. Can you provide a little more detail? It would be helpful to know:

1) what state you are in?
2) what was the amount of the loan?
3) it sounds like there is a written agreement -- that is probably good. What does it say about repayment (when are payments due, amounts, etc.)
3) it sounds like he hasn't made payments in over two years. What about prior to that?
4) did you expressly agree (either in writing or verbally) that he did not have to make payments over the past two years? If not, why have you not sought payments over the last two years (I assume it is because you have been dating him, but I wanted to check.)
5) what are the "penalties" in the contract that you mention?

Expert:  OnPointLegal replied 8 years ago.
I look forward to your responding to my questions so I can try to answer yours. Thank you.