I have this so called freind that had me and three other people that I know personally take out a loan for him to help build up his business. He’s not paying back the bills every month, is there a way we can file a claim for that situation?
From what you have stated, you took out a loan and you gave him the money with the promise that he would pay you back. This is a breach of contract. Depending on the amount given to him, you will need to consider taking him to court
He "had" you take out loans? Do you mean that he held a gun to your head and forced you to withdraw the money? Or do you mean that you, as a friend, agreed to get the money for him, but now you're upset? (I'm guessing it's the second one.)
He owes you money, just like anyone else in the world who borrows something or buys on credit. Unless you had an agreement that specifies when he would pay you back, then you can demand it back at any time. If you've already tried asking, then make it more formal. Send him a written letter that says, "Please pay the balance of $____ within 30 days or I will be taking this to court." Then be prepared to file a complaint to get a judgment against him.
You filed your question under "Bankruptcy and Debt." If he is in bankruptcy, then instead of making a demand against him, you need to file a proof of claim in his bankruptcy case. If you think he may be about to file bankruptcy, then you should move faster. Ignore the demand letter and just go to court. File a complaint and try to get an attachment on any bank accounts he may have. The sooner you act, the better your chance is to collect more of what is owed you in bankruptcy. If it's going this way, you really should hire an attorney to help you.
Be aware that this response does not create an attorney/client relationship. I live and work in Massachusetts and may or may not know the local laws where you live. I hope people find my responses not only helpful but somewhat entertaining as well. If you rely on this as legal advice, remember the old saying, "You get what you pay for."
Is someone owes you money and they don't pay you can file a lawsuit against them. Depending on the amount of the lawsuit you can either file a case in small claims up to $10,000 or in Superior Court for an unlimited amount. The filing fee depends on which court you use. Small claims is the cheapest with a filing fee of $70. Superior Court can be as much as 400 to $500 for the filing fee. In addition it would be expected that you would have to pay attorney fees. If your agreement was in writing and if it contained an attorneys fee clause then you might be able to recover your cost spent for attorneys fees. If there is a bankruptcy involved for example if your debtor filed bankruptcy all bets are off. In that case your dad would like to be discharged unless you can prove to the court that there was fraud practiced upon you by the debtor which induced you to make a loan that you would not have otherwise made. Your best bet is to contact an attorney offering a free consultation. Good luck to you
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