Archived
I bought vending machines 9 mnths ago from a co that failed to deliver. They seem to be out of business. Looking for recourse.
Dean's answer
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Answered on June 13, 2018
The first question is - from whom did you purchase the machines? Is Vanguard a corporation, LLC or just a fictitious name (dba) under which an...
Archived
Do i have to pay or be responsible for equity loan that my son made
Dean's answer
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Answered on May 30, 2018
The facts stated in your question are not 100% clear, but . . .You can't be personally responsible for a loan unless you agreed in writing. In the...
Archived
Can loan documents and appraisals be transferred to another loan company because of disagreement between lender @ easement issue
Dean's answer
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Answered on July 11, 2017
Another loan company will not use any existing documents. They may or may not review the appraisal, assuming the you have a copy. If you do not...
Do I need a license to lend money in california
Dean's answer
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Answered on July 10, 2017
The answer is that it depends on the nature of your activities. The primary advantage of obtaining a broker's license, or a finance lender...
Archived
Thinking of signing business loan where I have to be personal guarantor of loan.
Dean's answer
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Answered on September 22, 2016
I don't understand the statement that your two other partners (using that term loosely) can't "qualify" to give a personal guaranty. If the lender...
Archived
What is the statute of limitation for unsecured loan in california
Dean's answer
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Answered on September 19, 2016
Whether a creditor is barred from suing by the statute of limitations depends on many factors. If the debt is not evidenced by a written...
Archived
What type of attorney do I need
Dean's answer
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Answered on September 06, 2016
An attorney can be certified as a specialist in the area of creditor rights. This insures that you will retain a lawyer with experience in the...
Archived
To offer loans nationwide,Do I need a commercial RE Mortgage & a CFL license to operate my loan brokerage company from Calif.?
Dean's answer
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Answered on August 28, 2016
As to equipment loans, obtain a California Finance Lender license. Among other things, this license provides an exemption for the usury law.
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Archived
Making a personal loan to a small business entity backed by collateral and a personal guarantee. What info should I request?
Dean's answer
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Answered on August 14, 2016
As the previous answer indicates, you can require that the prospective guarantor give you a financial statement. Most individuals don't have...
Archived
I am loaning my son $500k to buy a house. He will be the owner but what agreement to get my money back do I need
Dean's answer
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Answered on August 10, 2016
The documentation would include a promissory note and deed of trust. The loan should be funded through the purchase escrow, and the escrow...
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