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How do I demand payment for short term and bridge loans to

Customer Question
an LLC in which I...
how do I demand payment for short term and bridge loans to an LLC in which I am a managing member? I want to offer members two options, 1. pay their portion of the demand according to percentage of ownership or 2. forfeit their ownership points completely in lieu of payment.
Submitted: 1 year ago.Category: Business Law
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Customer reply replied 1 year ago
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
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8/13/2016
Business Lawyer: AttyHeather, Attorney replied 1 year ago
AttyHeather
AttyHeather, Attorney
Category: Business Law
Satisfied Customers: 677
Experience: Attorney with 15 years experience
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Hi, I'm Heather, an attorney with 15 years experience and I'd like to assist for informational purposes.

The loan documents themselves and/or operating agreement should have provisions regarding payback. Do you have access to those documents?

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Customer reply replied 1 year ago
I have all documents. All loans are in default totaling approximately $400k. all were set up at 7% over 5 years. No Payments have been paid.
Business Lawyer: AttyHeather, Attorney replied 1 year ago

Do your documents give you specific instructions as to how to call the loans due?

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Customer reply replied 1 year ago
What i am attempting to do is remove the rest of my partners from our LLC without paying the members. What I want to offer is either 1. pay the amount or 2. forfeit ownership. then i am going to restructure the LLC but need to points available to do so.
Business Lawyer: AttyHeather, Attorney replied 1 year ago

The system states that your payment failed. You might contact customer care for justanswer.com.

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AttyHeather
AttyHeather
AttyHeather, Attorney
Category: Business Law
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