My business partner screwed me over! How do I attain the creditors after him?
I enter a business partnership base on an oral agreement. My partner intended from the start to screw me. Now we own $500k worth of debt and creditors are rightfully after us. I am broke but he is worth $3.5 - $5M. How can I own the creditors chase him down versus me? We signed for the debt combined and severally.
Answers:
You should sue him within court for the money.
If you win, you can force him into ruin and the trustee will wages his debts out of his assets.
hhhmmm tough one that's a life span issue at that smooth. I would chew over that they hold already pulled a credit report and know that he is the one near the money. If not I imagine I might start to describe him as "my banker" and see if that help a bit.
The creditors own the right to walk after both and they will as long as they assume at hand is any hit and miss of rescue from both.
You can arrange meeting next to them and show them your books, mound accounts etc., and the partnership books to show how you get set up and hold no money. The sound business edict will show them where on earth to receive the money.
Consider an attorney to sue the partner if he committed fraud on you, probable for your own salvage.
Take him to court for your partly of profits that he's stolen, and hold him criminally charged by police.
Oral agreements are iffy, but if you have a working relationship for some time consequently that should suffice as proof of partnership, so will the reality you signed on for amalgamated debt.
So if the business be 50-50 and he have taken 100%, you can possible a short time ago sue him for your 50.
And emphatically jump to the cops, because I doubt that you're the with the sole purpose one that's be screwed over here. You involve to report it.
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Answers:
You should sue him within court for the money.
If you win, you can force him into ruin and the trustee will wages his debts out of his assets.
hhhmmm tough one that's a life span issue at that smooth. I would chew over that they hold already pulled a credit report and know that he is the one near the money. If not I imagine I might start to describe him as "my banker" and see if that help a bit.
The creditors own the right to walk after both and they will as long as they assume at hand is any hit and miss of rescue from both.
You can arrange meeting next to them and show them your books, mound accounts etc., and the partnership books to show how you get set up and hold no money. The sound business edict will show them where on earth to receive the money.
Consider an attorney to sue the partner if he committed fraud on you, probable for your own salvage.
Take him to court for your partly of profits that he's stolen, and hold him criminally charged by police.
Oral agreements are iffy, but if you have a working relationship for some time consequently that should suffice as proof of partnership, so will the reality you signed on for amalgamated debt.
So if the business be 50-50 and he have taken 100%, you can possible a short time ago sue him for your 50.
And emphatically jump to the cops, because I doubt that you're the with the sole purpose one that's be screwed over here. You involve to report it.