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favor turns to headaches

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neroticfix

Guest
What is the name of your state? NY

a friend of mine was asked by her mother to help purchase a grocery store by putting all loans and accounts for said grocery store in my friend's name.

my friend agreed and did her the favor.

her mother & step-father were delinquent in paying one of the bank loans which was for $4,000. now since the loan is in my friend's name, she is going to have to appear in court for the $4000 owed because her mother and step-father are refusing to pay back the loan. The mother and step-father told my friend she should just declare bankruptcy.

the mother and step-father also used a credit card in the stores name and ran the bill up to about $900. My friend was forced to pay the balance since the parents refused to.

what are my friends options? can she kick the duo out of the store and sell the lease(runs thru 2005) along with the merchant accounts and pay the loan off with that money?

one final yet important point is the issue regarding the tax papers for the store. my friend has yet to to sign any papers, nor has she sent any out to be prepared for that matter. what can she do if her mother and step-father forged her signature and recieve a return?

any help would be very much appreciated. thanks

- fix
 
Last edited:


HomeGuru

Senior Member
neroticfix said:
What is the name of your state? NY

a friend of mine was asked by her mother to help purchase a grocery store by putting all loans and accounts for said grocery store in my friend's name.

my friend agreed and did her the favor.

her mother & step-father were delinquent in paying one of the bank loans which was for $4,000. now since the loan is in my friend's name, she is going to have to appear in court for the $4000 owed because her mother and step-father are refusing to pay back the loan. The mother and step-father told my friend she should just declare bankruptcy.

the mother and step-father also used a credit card in the stores name and ran the bill up to about $900. My friend was forced to pay the balance since the parents refused to.

what are my friends options? can she kick the duo out of the store and sell the lease(runs thru 2005) along with the merchant accounts and pay the loan off with that money?

one final yet important point is the issue regarding the tax papers for the store. my friend has yet to to sign any papers, nor has she sent any out to be prepared for that matter. what can she do if her mother and step-father forged her signature and recieve a return?

any help would be very much appreciated. thanks

- fix
**A: I am surprised that your friend has not thought of hiring a business attorney.
 

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