Mother loaned money to me for my company thru a line of credit against her house and business shut d
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I owned a small corporation and my mother took out a interest only line of credit loan against her free and clear house and loaned it to me for my buisness. my buisness did not work and was forced to shut down.Is thier any way my mothers loan can be forgivin with either because of a "bad investment" without losing her house.Is thier anything i could do or any channels i may go down to investigate this further? I at this point am paying only the interest on it personally every month.
Mother loaned money to me for my company thru a line of credit against her house and business shut down.Help!?You better take out a loan to pay back dear mom.
Mother loaned money to me for my company thru a line of credit against her house and business shut down.Help!?I would suggest keep paying the bill each month even if your business closes that way it shows your trying to be independent and she wont hold it against you
Mother loaned money to me for my company thru a line of credit against her house and business shut down.Help!?Do whatever you have to do in order to keep Mother in her home and do not ever borrow from her again.
Mother loaned money to me for my company thru a line of credit against her house and business shut down.Help!?Talk to a bankruptcy lawyer. If your company went under, more than likely you went bankrupt. So, both you and her need to hire a BANKRUPTCY lawyer, and figure out how her bad investment can be removed from her credit. I hope you two drew up papers, stating that the money you borrowed was as an investment for her in your company, and hope you had it witnessed and notarized. If you did, take those papers to the lawyer and have him advise you. Usually bankruptcy lawyers will charge you a flat fee.
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