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false information by sellers of a business

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M

meg nist

Guest
i am in the state of florida . my business was 400000, i put 200000 down the rest the past owner is holding. i was told it did 400000 a year., i have the business for nearly a year it is not doing any where near that amount. they are going to take me to court because i can't pay the mortgage. instead of making 30,000 a month i amonly making 15,000 . i feel the 200000 i paid initialy is all the business is worth . what can i do about this situation?do i have a legal stand at all? i need help.
 



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