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Wow! I am truly sorry to hear of your situation. I will do what I can to offer some direction and guidance. First, though, I have a couple of questions --
Do you have any source of income other than the business that just went under?
no , other than cash i may be able to borrow from friends and family.
Do you have any significant assets, such as house, car, investments?
Since you do not seem to have any assets, how certain are you that the other owners will sue you because all they really will end up with is an uncollectible judgment?
they are all filing suits. they think i have assets as i have been known as a significant partner in the past. also, the parties behind the complex ip case are relentless and simply want to cause as much pain as possible.
What about the partner who stole everything and destroyed the business? Do you know where he is? Does he have assets? Do you think you can prove he did those things?
it would be almost impossible to prove. he has funding and i do not. would be difficult to litigate with him given the incoming lawsuits. that is why i am resigned to knowing what life will be like with all of these default judgments in place.
i have looked everywhere but can't find info regarding others who have gone through such a quick meltdown scenario where they were unable to defend several lawsuits at the same time, and left with default judgments. its difficult info to find, nobody seems to know what life is like at that stage.
never got a complete answer..
Here is what guidance I can offer:
First, do not despair. Many successful people have come back from seemingly impossible problems.
There are three possible options of which I can conceive without knowing all the details of your situation.
1. See if you can find an attorney to go after your partner on a contingency fee basis.
2. In exchange for releases, offer to assign your claim against your partner and pledge your cooperation to the other owners. If what they really care about is getting their money and not punishing you, then going after the other partner is a better option for them. This doesn't help with the IP case, however.
3. File bankruptcy sooner rather than later. In all reality, this may be your only real option because it will stop all lawsuits against you and wipe out any liability you may have.
This is a IMPORTANT follow up to a question I recently asked, pertaining to the complete meltdown of my internet business, and the multiple (8-15) lawsuits quickly turning into default judgments that I am now incurring. Filing BK is not an option for me.I am being sued by a group of aggressive plaintiffs who recently noticed I can't defend against their lawsuits. They are a unethical, well funded group who will do "anything" (or at least write anything into a lawsuit) with the intent to harass defendants and collect money in the form of settlements.question is -- when and if they determine where my source of income is now, i.e., friends and/or family, and in particular, if I move my residence to live with friends/family, is it likely they will start finding subtle ways to join my friends/family to their lawsuits, or even start new lawsuits against them, requesting discovery, etc., as a way to apply pressure and simply get paid? A law student friend mentioned that "anyone can sue anyone at any time, for any reason," "and require the defendant to spend money hiring a lawyer for defense," I understand. Is it that simple? Can the plaintiffs simply make a vague allegation, i.e., some kind of civil conspiracy between me and the friends/family, to start joining my wealthy friends (much better target than me at this point) to their lawsuits? Or should I feel comfortable knowing that aggressive plaintiffs simply wouldn't do such a thing? I've already seen this group manufacture vague arguments to sue others without much reason and simply start applying pressure in court. The plaintiffs behind the cases I am facing are unethical liars, and very aggressive.
Optional Information: State/Country relating to question: New Jersey Already Tried: spoke to local attorney. he said he wasn't sure if the many plaintiffs who are aggressively trying sue me would eventually try to pressure a settlement payment out of my friends or family by joining them as parties to existing litigation, or even by filing a new lawsuit against my friends and family. also i have been looking at how my friends and family might be required to participate at debtors exams, if the judgment holder alleges that person "might" have information about my assets.
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