If my wife and I loaned a man $30,000 to start a business and he signed a contract but is not making his payments, what can we do? 6 Answers as of March 27, 2014

What steps do we need to take to get our money?

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Law Office of John C. Farrell, Jr.
Law Office of John C. Farrell, Jr. | John C. Farrell, Jr.
A lot would depend on the language in your signed contract. That aside, I would first attempt to work things before considering to file a lawsuit. If these attempts fails (usually several attempts) then you should consider consulting with a collections attorney to possibly file a legal action. For that claim amount you referenced it would be best to consult an attorney?to file the lawsuit than it would be to try to do it on your own.
Answer Applies to: Massachusetts
Replied: 3/27/2014
James T. Weiner & Associates, P.C.
James T. Weiner & Associates, P.C. | James T. Weiner
You need to sue him on the loan.
Answer Applies to: Michigan
Replied: 3/27/2014
Stacy Joel Safion, Esq.
Stacy Joel Safion, Esq. | Stacy Joel Safion
Have an attorney write a demand letter. If that fails, sue him.
Answer Applies to: California
Replied: 3/27/2014
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
File a lawsuit in state court to get a judgment.
Answer Applies to: New York
Replied: 3/26/2014
Law Office of Barry R. Levine | Barry R. Levine, Esq.
Sue him.
Answer Applies to: Massachusetts
Replied: 3/26/2014
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