parents getting sued WTF?!?! any advice??

**PAT-LS101** · 10-12-2008, 08:53 AM

Just found out my parents are getting sued for 7000 for an INVESTMENT that one of his so called friends gave him for his business. Well, the business never took off so now 8 years later the guy is saying it wasn't a investment . My question is don't the other people have to have some kind of documentation to prove that it was a loan cause my parents never signed anything and on top of it why would you come back 8 years later to collect the "loan" back wouldn't you come back allot sooner?. I know I would any input would be greatly appreciated

**LS1WS6** · 10-12-2008, 09:02 AM

The thing you need to look at is any documents which they might have signed stating what the money is for. I had to deal with this sort of thing from my step mom who gave me 2k to invest in a condo which at the time i almost lost getting and if i did that 2k would have been gone. My step mom was not happy at the time and demanded the money back,even went as far as calling my relestate agent saying she was going to sue them for the money back but here is the thing she gave me the money along with a letter stating that the money was a GIFT towards my new condo, guess what, she couldn't do shit about it.. Back to your parents you need to find out is there is any documents stating what the money was for. If it was all verbal then its his word vs your parents in which case he would loose. Investing in something like that comes with risks and one of them is failure. Do you really think i could get my money back if i invest in say GE stock and it tanks..

**PAT-LS101** · 10-12-2008, 09:08 AM

sorry to hear that about the condo..... and no my parents have no documents it was all verbal it just sucks cause they have to come up with 2000 for lawyer fees and stupid shit and take time off work so I told them to counter sue I hate greedy lying bastards.....

**LS1WS6** · 10-12-2008, 09:14 AM

well i did get the condo and living in it lol. As for no documents well that guy is going to be SOL. When my parents built their house my grand parents (dad side) gave them like 100k to build it and then pay them back instead of a bank. Fast forward a few years and my parents got a divorce,grandparents forgave my dads half of the money but still wanted my mother to pay her half. There was no documents/paperwork on the matter and my mother just ignored it. Grandparents couldnt do anything about it..

**PAT-LS101** · 10-12-2008, 09:59 AM

Originally Posted by LS1WS6

well i did get the condo and living in it lol. As for no documents well that guy is going to be SOL. When my parents built their house my grand parents (dad side) gave them like 100k to build it and then pay them back instead of a bank. Fast forward a few years and my parents got a divorce,grandparents forgave my dads half of the money but still wanted my mother to pay her half. There was no documents/paperwork on the matter and my mother just ignored it. Grandparents couldnt do anything about it..

wow thats crazy did your dad get to keep the house?

**LS1WS6** · 10-12-2008, 10:09 AM

no he moved out and back to my grandparents. I think at the time they both owed my grandparents 50k or so. They wanted 25k from my mother of course they told my dad he didn't have to pay them back. My mom found that out and was like screw it why should i have to be the one to pay that back if he doesn't. In the end my mom had to give my dad half of what the house was worth. But like i said there were no documents stating what the money was for or even if it had to be paid back.. I think my mother learned from that cause when my step dad decided to help me out with some money issues he lent me 12k but before i got a cent i had to sign an agreement that it was a loan, and how it was to be paid back to him that this is my mom and step dad were talking about. You live and learn and from what your saying about the other guy and no documents you will also see the point in the future to have things in writing even if the guy says dont worry about paying me back..

**SouthernBornThriller** · 10-12-2008, 11:02 AM

You can sue for anything. Hell, someone who once sued someone could read this thread of you bashing someone for sueing your parents and decide to sue you for emotional trauma from internet bullying.

...doesn't mean they'll win though.

If it was just a verbal agreement with nothing being signed (and the dude didn't have a tape recorder in his pocket), than he's s.o.l. unless he's dropping much more than 7grand on an unbelievable lawyer.

When he loses feel free to counter sue for emotional and financial trauma over having to fight a legal battle over a gift from who they thought to be a friend over the failure of a small business. Should be able to at least cover expenses with that. If not go to Disney World after.

**PAT-LS101** · 10-12-2008, 12:07 PM

Originally Posted by SouthernBornThriller

You can sue for anything. Hell, someone who once sued someone could read this thread of you bashing someone for sueing your parents and decide to sue you for emotional trauma from internet bullying.

...doesn't mean they'll win though.

If it was just a verbal agreement with nothing being signed (and the dude didn't have a tape recorder in his pocket), than he's s.o.l. unless he's dropping much more than 7grand on an unbelievable lawyer.

When he loses feel free to counter sue for emotional and financial trauma over having to fight a legal battle over a gift from who they thought to be a friend over the failure of a small business. Should be able to at least cover expenses with that. If not go to Disney World after.

LOL... When I heard that guy was suing I couldnt belive it I guess money does so strange things to people.......

**KyleLs1** · 10-12-2008, 12:12 PM

i know someone who was in a similar situation as your parents, the person being sued had a good lawyer and they made the plaintiff or w/e look like an idiot in court.

**count of monte carlo** · 10-12-2008, 12:27 PM

8 years? i'm sure a statute of limitations has run its course on that...

**PAT-LS101** · 10-12-2008, 01:18 PM

Originally Posted by count of monte carlo

8 years? i'm sure a statute of limitations has run its course on that...

yeah he just showed up one day out of the blue and said remember that 7,000? "I want it back" and we were like,

the whole thing is just bogus they will be going to court soon it just sucks that they have to spend 2000 to hire a lawyer because someone wants to scam them....

**PAT-LS101** · 10-12-2008, 01:22 PM

Originally Posted by KyleLs1

i know someone who was in a similar situation as your parents, the person being sued had a good lawyer and they made the plaintiff or w/e look like an idiot in court.

this is totally off the subject but, your avatar is sweet that color w/ the stripe looks PERFECT very nice!

**CamaroFan71** · 10-12-2008, 01:32 PM

If the other guy doesnt have any papers saying it was a loan, all your parents have to do is say it was payback for a loan they gave him.

**volleybill** · 10-12-2008, 07:25 PM

I don't know anybody here and this is obviously between the people who did this 8 years ago- but.... if someone loaned me money for a business venture, and then the business tanks, does that automatically let me off the hook for the loan? What kind of friend would I be if I didn't pay that loan back? I understand that there were business problems, sounds like the guy tried to help out and wait a long time to get his money back, let people get back on their feet financially- but that is a lot of money to just let somebody walk off with after you give them a loan- loans are meant to be repaid-

**PAT-LS101** · 10-13-2008, 12:07 PM

Originally Posted by volleybill

I don't know anybody here and this is obviously between the people who did this 8 years ago- but.... if someone loaned me money for a business venture, and then the business tanks, does that automatically let me off the hook for the loan? What kind of friend would I be if I didn't pay that loan back? I understand that there were business problems, sounds like the guy tried to help out and wait a long time to get his money back, let people get back on their feet financially- but that is a lot of money to just let somebody walk off with after you give them a loan- loans are meant to be repaid-

it wasnt a LOAN it was an investment....

**Zapper2003** · 10-13-2008, 03:20 PM

Times are getting tougher. Tough times make people do this kind of shit.

**gonzo99ta** · 10-13-2008, 09:23 PM

Who makes a verbal investment? What were supposed to be the terms of this investment? If it was an investment was he supposed to get a % of any profit or how was he supposed to recoup his money?
Now money is loaned all the time on a hand shake with verbals on how it is to be repayed especially between family.
in either case... these are perfect ways to lose friends or break family bonds. mixing money and family/friends is not a good idea.