I loaned 2 people a total of 25,000.00, to expand a small business.
The business was started and ran by my husband and myself. He died unexpectedly and my daughter and this other individual agreed to continue. Both signed a loan agreement with a repayment plan. Obviously it did not go well and the other individual entered into a relationship with my daughter and it soon became apparent that he was not who he said he was. My daughter is making payments he is not.
They are no longer in a relationship, thank god!
You better check with a lawyer before you do anything. In some states, if you have two people who are obligated to repay a loan and you forgive one of them but not the other you may be waiving any claim you have against the second person.
Once you discover how to proceed the lawyer can tell you the best way. Ideally, if you know where the person is you simply file your complaint and have process server deliver the paperwork and proceed from there.
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