The long and the short is that about two years ago my fiancé was widowed by her Navy husband, leaving her with a three year old child. Since then she has had many financial setbacks, the main one being that a friend of her late husband convinced her to put up a $20,000.00 CD as surety for a line of credit on his trucking business. It failed, and her money was seized. This man has made a couple payments, but is starting to get really late on his payments each month, and she is trying to go to school to better herself, so this hurts her a lot. It's not right what he's done, and we can't afford an attorney. We're stretched really tight, and I can't get enough overtime to put us ahead. Any ideas of how we could deal with this? Also, on one of his last payments he wrote "$15,000.00 left" on the memo line... could that be helpful?

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Originally Posted by BenjamenJames

the long and the short is that about two years ago my fiance was widowed by her Navy husband, leaving her with a three year old child. Since then she has had many financial setbacks, the main one being that a friend of her late husband convinced her to put up a $20,000.00 CD as surety for a line of credit on his trucking business. It failed, and her money was seized. This man has made a couple payments, but is starting to get really late on his payments each month, and she is trying to go to school to better herself, so this hurts her alot. It's not right what he's done, and we can't afford an attorney. We're stretched really tight, and I can't get enough overtime to put us ahead. Any ideas of how we could deal with this? Also, on one of his last payments he wrote "$15,000.00 left" on the memo line...could that be helpful?

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I sure hope she didn't cash the check that had "$15,000 left" on the memo line.

She - you have no legal standing - could take him to Small Claims but she can only file up to the ceiling amount in your State.

She could also retain an Attorney and sue him in a superior court for the full amount.

I would get my claim in if you have any inkling that this man is going to file in Bankruptcy or skip.

Do you mean she gave the money as security without any loan papers or any paper work to even prove he is suppose to pay back.

He could easily claim it was a joint business deal or it was a gift.

She needs to hire an attorney, sorry if you don't have the money, you need to find it. To sue him.
This is normally over the small claims amount