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Tina, Lawyer
Category: Legal
Satisfied Customers: 8775
Experience:  JD, BBA Over 25 years legal and business experience.
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I reasonably i loan some money to a company project where i

Customer Question

i reasonably i loan some money to a company for a project where i was directly involve ( restaurant renovation )
i loan 68,500 dollars 15K with a partners agreed on serve as a guarantor for a loan i received
after 1 year the company decide to terminate me,as a favor to them i agreed to leave the GA liquor license under my name until will be transfer to someone else in exchange of my loan to be paid back as soon as possible
now i received 15K already we agreed to forget the 15K loan where the partner was the guaranteed ( 8 K were already paid and the difference the guaranteed cover it ) i still have to receive around 25K and now is over 4 months that i am not working anymore for them
i am looking to get done with all this by the end of March
What kind of leverage i have in order to pressure them to close the balance ?
Submitted: 1 year ago.
Category: Legal
Expert:  LegalKnowledge replied 1 year ago.

Good afternoon. Just to be clear, the repayment of debt was to be done "as soon as possible" and you never got anything from them, in writing, as to a timeline? Have they advised you as to the delay in all this?

Expert:  LegalKnowledge replied 1 year ago.

Hi, are you still with me?