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I gave a friend 45,000.00 that cost me 12,500.00 to take out…

Customer Question
I gave a friend 45,000.00...
I gave a friend 45,000.00 that cost me 12,500.00 to take out of my IRA and had a loan agreement notarized for repayment without interest by 12/31/2018. Starting Jan 2019 a 300.00 penalty would be added if late. This documented was signed and notarized August 15, 2016. Not a penny has been laid to date since there were no beginning date to repay payment I asked him if he started ground breaking for the house to date... he said no and not to expect my money back. He threatened me early January /March 2018 so I had to call Police and they visited him at his home and promised he would pay me.. I keeps telling me he going to pay me... the Back my money by but changes when... is there a lawyer close to Cape May but not in Cape May County so I can sue him for intent of fraud!
Submitted: 2 months ago.Category: Real Estate Law
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Answered in 9 hours by:
3/30/2018
Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 2 months ago
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 22,006
Experience: B.A.; M.B.A.; J.D.
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Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

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Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 2 months ago

I am so sorry to read about your difficulties.

Kindly note that I just came across your post. I do not have control over the question list or the promises made to you by the site as to the response time. I am just a site user just like you. Nonetheless, I apologize for the delay in response to your post.

Kindly give me a few minutes to prepare my response.

Thank you for your patience.

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Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 2 months ago

Unfortunately, you cannot sue him for the money at this time since by your agreement there is no starting date for repayment and only that he would repay the whole thing by 12/31/2018. So, you do not have a case for nonpayment until January 1, 2019 if he does not repay by 12/31/2018. He would be delinquent on January 1, 2019 and that's when you can file lawsuit against him for obtaining money under false pretenses if he has not repaid the loan.

This site does not offer personal referrals. However, you can use the following sites to find local Attorneys who handle debt collection litigation to assist you with the case:

Lawyers.com

Justia.com

Findlaw.com

Consumeradvocates.org

I am sorry that I do not have better news for you. However, as an Attorney and an Officer of the Court, I have ethical and professional obligation to provide you with accurate and honest information eventhough that information may not be in your favor.

Best wishes,

A 5-star positive rating to my response is appreciated so that I can receive credit for responding to your post. There is no additional cost to you for giving a positive rating. However, that is how I get paid for answering questions on this site.

Thank you for your cooperation.

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Customer reply replied 2 months ago
I have reported a five star.. this guy has done this before.... not paying at all and or waiting to very last day to pay.. I have Fbi looking into ties with mis13 members he gets fr Central America without visa and goes to work for contractor immediately. Contractor insists on cash only undercuts Lowes and Home Depot prices etc.. intent to defraud I thought may be enough to sue for my money. Thanks Joe
Real Estate Lawyer: Phillips Esq., Attorney-at-Law replied 2 months ago

Thank you for the update Joe. Unfortunately, you still cannot file lawsuit against him at this time.

As for the 5-star rating, kindly use the popup screen to give the rating so that I can receive credit for my post.

Thank you so much your cooperation.

Have a wonderful day!

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