Dear Sir or Madam,
I applied for a personal loan from a bank, which was then put into my friend's start up cleaning business as an investment. The amount we are talking about is 19 k.
We made a written contract that he needs to pay back the loan amount weekly, regardless of the profit he makes. We also put down how we share the profit. We both have our details and signatures in this contract. So far, he did not pay me anything, saying he cannot make enough money. (Since April, 2016).
I am planning to wait a few months and then I want to take action, I do not care anymore about the profit, only I want my money back.
Do I have a chance of getting back my money if we have all the details on paper?
Kind Regards,
Kiki
I applied for a personal loan from a bank, which was then put into my friend's start up cleaning business as an investment. The amount we are talking about is 19 k.
We made a written contract that he needs to pay back the loan amount weekly, regardless of the profit he makes. We also put down how we share the profit. We both have our details and signatures in this contract. So far, he did not pay me anything, saying he cannot make enough money. (Since April, 2016).
I am planning to wait a few months and then I want to take action, I do not care anymore about the profit, only I want my money back.
Do I have a chance of getting back my money if we have all the details on paper?
Kind Regards,
Kiki
