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LegalKnowledge
LegalKnowledge, Attorney
Category: Legal
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Experience:  9+ years handling Legal, Real Estate, Criminal Law, Family Law, Traffic matters.
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brother owes me money 40000 dollars due at my retirement at

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brother owes me money 40000 dollars due at my retirement at age 65 now 65 no repayment just verbal agreement plus also owes12000 on credit cards that are in my name what can i do
Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help solve your problem.

Good morning. I certainly understand the situation and your concern. Why does he first owe you money now, at the age of 65?
Customer: replied 3 years ago.

that was the agreement he put money into his business and said he would give me 1 million when i retire

Fred, thank you for the additional information. In an ideal situation, you would make a demand in writing to him, for the amount owed and he would pay it, pursuant to the agreement. If he fails to pay you what he promised at this time or to work out alternative agreement, then your next step would be to file a civil lawsuit against him and obtain a judgment. The fact that the agreement was not in writing, does not prevent you from suing him. However, it would just make it a lot more difficult to recover, since it is your word against his, without any proof of the terms and conditions. Any time a person makes a loan or investment with a promised return of $1,000,000 they typically get that in writing, since the value is so high. If he will not pay the $1,000,000 nor return your investment or pay you what is owed on the credit cards, you would have to sue him and obtain a judgment though the courts, to collect.

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