Is it wrong to ask for YOUR money back? - Page 10

Originally posted by: mittijalebi

bumping this thread for some more advice from my fellow DMers. 😆

lets say you loaned $300,000 to a relative to invest. a contract was signed that stated all the terms and conditions of repayement etc.

now its been 7 months since the money was to be repaid back and the relative hasnt paid it back. saying that he doesnt have any money on hand and will pay back once a particular investment's profits are distributed.

should you take legal action? relative hasn't ever refused to pay back the money and has just recently (within the last week) repaid a portion of it.....7 months later than the agreed upon date though!!!!!!!!!!!

Take legal action AFTER you gave the money? 😕 If you have to loan a huge amount of money to someone , do it the way bank does - with proper documentation and collateral... Otherwise consider it charity given or daan /punya and forget it. No one gets as much as the lawyer does if legal action is taken.

FWIW investment advice - If it sounds too good to be true it probably is. 😉

Originally posted by: KarotroToo

ek joke yaad aa gaya yeh topic dekhne ke baad....sunata hoon 😛 ek bhai ko tension mein raat ko neend nahi aa rahi thi aur BP bhi badh gaya tha.....bande ki wife ne kitni baar puchha usko ki..kya huaa..lekin yeh kuch batata hi nahi tha...aise 4-5 din ho gaye....aur phir biwi se raha nahi gaya, aur kasam de di ki...jo bhi hain aap muhje batao.. to yeh bande ne kaha ki....woh 6 mahine pehle maine saamne wale champakbhai se 5000 rs. liye the...aur ab woh wapas maang raha hain lekin mere paas abhi nahi hain... to phir biwi ne kaha....bassss....itni si baat thi aur aap itna bada tension le rahe ho.....to banda to khush ho gaya..mann mein sochne laga ki...shayad jo bhi ghar mein jewelery yah jo bhi hain woh sale karke paise lekar aayegi...... bas yahi time par...biwikhidki ke paas gayi..aur jor se chikhi ...are o....champak bhai.....o champak bhai.... phir champak bhai ne bola..haaa..bolo kantaben....to kantaben ne kaha ki...aap jo 5000 rs. mere pati ke paas maang rahe ho na...to usmese ek paisa bhi nahi milega..aapko jo karna hain woh kar lo...aur khidki bandh kar di...aur pati ke paas aake boli...ab aap shanti se so jaao...aaj se ab champak bhai raat ko jagenge

i havent read this joke yet but i already feel like laughing for this joke 😆 😆 😆

Originally posted by: mittijalebi

bumping this thread for some more advice from my fellow DMers. 😆

lets say you loaned $300,000 to a relative to invest. a contract was signed that stated all the terms and conditions of repayement etc.

now its been 7 months since the money was to be repaid back and the relative hasnt paid it back. saying that he doesnt have any money on hand and will pay back once a particular investment's profits are distributed.

should you take legal action? relative hasn't ever refused to pay back the money and has just recently (within the last week) repaid a portion of it.....7 months later than the agreed upon date though!!!!!!!!!!!

😕 😕 😕 looks like you gave the money for someones business. business is very tricky. sometimes they work and sometimes they dont. i guess the guy hasnt gotten any profit yet so you should wait for a while becoz that sum is huge.

😆

Originally posted by: KarotroToo

ek joke yaad aa gaya yeh topic dekhne ke baad....sunata hoon 😛 ek bhai ko tension mein raat ko neend nahi aa rahi thi aur BP bhi badh gaya tha.....bande ki wife ne kitni baar puchha usko ki..kya huaa..lekin yeh kuch batata hi nahi tha...aise 4-5 din ho gaye....aur phir biwi se raha nahi gaya, aur kasam de di ki...jo bhi hain aap muhje batao.. to yeh bande ne kaha ki....woh 6 mahine pehle maine saamne wale champakbhai se 5000 rs. liye the...aur ab woh wapas maang raha hain lekin mere paas abhi nahi hain... to phir biwi ne kaha....bassss....itni si baat thi aur aap itna bada tension le rahe ho.....to banda to khush ho gaya..mann mein sochne laga ki...shayad jo bhi ghar mein jewelery yah jo bhi hain woh sale karke paise lekar aayegi...... bas yahi time par...biwi khidki ke paas gayi..aur jor se chikhi ...are o....champak bhai.....o champak bhai.... phir champak bhai ne bola..haaa..bolo kantaben....to kantaben ne kaha ki...aap jo 5000 rs. mere pati ke paas maang rahe ho na...to usmese ek paisa bhi nahi milega..aapko jo karna hain woh kar lo...aur khidki bandh kar di...aur pati ke paas aake boli...ab aap shanti se so jaao...aaj se ab champak bhai raat ko jagenge

😆😆😆 Biwiaaa aisa honaaa lol😆

Originally posted by: lighthouse

Take legal action AFTER you gave the money? 😕 If you have to loan a huge amount of money to someone , do it the way bank does - with proper documentation and collateral... Otherwise consider it charity given or daan /punya and forget it. No one gets as much as the lawyer does if legal action is taken.

FWIW investment advice - If it sounds too good to be true it probably is. 😉

by legal action i mean should you take them to court for not following the terms and conditions of repayment. why would i take legal action against them BEFORE i gave them money.....doesn't make sense.

we had legal documents that set out all the conditions BEFORE we loaned the money. the other party just didnt follow them. now the question is should we take them to court for it or wait it out longer since it is a matter of family.

Originally posted by: mittijalebi

by legal action i mean should you take them to court for not following the terms and conditions of repayment. why would i take legal action against them BEFORE i gave them money.....doesn't make sense.

we had legal documents that set out all the conditions BEFORE we loaned the money. the other party just didnt follow them. now the question is should we take them to court for it or wait it out longer since it is a matter of family.

Dear MJ a topic very close to all our hearts and beginning of our interactions 😃

If all contractual documents were drawn out & set up at the time of lending money and borrower party has not kept their dates of payment than you have all the right to take them to court. My question is if they paid part of the money 7 months after the original agreed date was any time of documents exchanged regarding this loan? Since it is very large some of money the first time they fail to pay a written document should be served to them in protecting you. So they know they have missed the date and they could be taken to court for action against them. Accepting part of the payment 7 mo after agreed date can also be understood as term has been extenended unless some documents were exchanged to that fact.

This why they say Family & Business never to mix.

Good luck MJ for these people to get their money back.

Investment at the cost of someone else's money wow 😕 😳 😒

Once you take this to court you know who benefits? the scum bucket lawyers 😡 🤢

I agree with with Lighty what she has written above.