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Home > $27,200 owed to me

$27,200 owed to me

November 27th, 2013 at 02:57 pm

Ahh well this is a little drama update so that everyone out there can shake their heads and say they are glad they didn't lend these people money...

Regarding the guy in CA who purchased our business and owes me money. He was supposed to pay me $25k in one large upfront payment and $3k a month for 10 months.

It took him 3 months to pay $24,800. As it turns out he could not make 1 large payment as he promised me- It was coming in chunks as he was able to pay it.

Then about a month ago I reached out several times to get a gameplan for the remainder due. No response. After a few weeks of reaching out- I contacted his business partner and then his brother.

His brother responded right away and told me the person had been institutionalized! Supposedly it was regarding some DUI stuff and needing to go through this to get his license back...sounds shady but I really don't care about the story if the bottom line is he is out of the picture.

Brother is trying to handle his brother's businesses now. Brother is aware of debt owed to me and asked for a few days to get a plan in place.

Meanwhile the business partner called me back and went on a rant about how the partner owed so many people money (including him) and institutionalized himself to get away from creditors and regroup for a few months. And left everyone in a big lurch for leaving so suddenly. But this partner acknowledged that he was aware of the debt owed to me. He said he will personally pay me half of the remainder as that was his original plan until his partner said he would cover the full debt to me as a re-payment for money owed to the partner. He asked for a few days to get a plan in place.

The brother contacted me a week later and promptly sent me $3k. The brother then alluded to the new business partner buying out the original partner and so the original institutionalized partner and brother would no longer be a part of things. Since everything was so up in the air I am giving it some time to settle before trying to figure out who will pay me the remaining amount.

So as of a week ago I started calling the new business partner to get a game plan in place. No response.

I also talked to an old employee who is working there but plans to move on soon and he said things are going ok but not great. The people in charge are leaving less competent people to run things and laziness is starting to take over.

Not great for me as I would love for everyone to be really happy and making great money so they can pay me my remaining money. I don't like that people are giving up (even though that's what I did).

So now on a semi regular basis I am calling and leaving escalating-ly concerned messages for the new business partner.

Sigh. I am getting a lot of experience as a bill collector. Re-affirms that I don't want to ever get a job in the collections industry.

On good news- the baby is doing great.

4 Responses to “$27,200 owed to me”

  1. CB in the City Says:
    1385569810

    Oy. My father-in-law was in a similar situation and he ended up suing for his money, after many years of nicely asking. He did finally get paid, but it was a long drawn-out process.

  2. Rachael777 Says:
    1385577521

    'if we did not have problems. we would have nothing to talk about'

    keep the humor and faith. you are doing great. Smile

  3. creditcardfree Says:
    1385588590

    I will never start a business with anyone besides my husband. He had a business with friends and a brother...and well it didn't work and we never did get our money back.

  4. PatientSaver Says:
    1385590029

    Dont waste your time calling and asking.

    Do you have any friends/acquaintances who are an attorney? Just have them send a brief letter inquiring as to status and put it on their letterhead. That should do the trick. It suggests legal action could be coming next.

    If you don't have a friend/acquaintance who is an attorney, then just hire one to do the same thing.

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