What is the name of your state? FL
Hi, I had borrowed money as a private person from different people for over $200,000 (for investment) with sincere promise (documented agreement) to pay them gain every month and the initial borrowed amount back at the end of the agreement term. Unfortunately, after taking investment loss, I can not pay back (approx $50,000) to the last few people. Definitely it’s not a Small Claims Court situation, but can not quite fit this into other forums either. Well, the questions would be:
1. What are my options for defense?
2. What are their options?
3. Worst case scenario?
4. Any possible solutions, legal ways to extend payback time, etc?
(besides of course paying back as agreed)
Thank you
Hi, I had borrowed money as a private person from different people for over $200,000 (for investment) with sincere promise (documented agreement) to pay them gain every month and the initial borrowed amount back at the end of the agreement term. Unfortunately, after taking investment loss, I can not pay back (approx $50,000) to the last few people. Definitely it’s not a Small Claims Court situation, but can not quite fit this into other forums either. Well, the questions would be:
1. What are my options for defense?
2. What are their options?
3. Worst case scenario?
4. Any possible solutions, legal ways to extend payback time, etc?
(besides of course paying back as agreed)
Thank you