Q: My father loaned his brother 90,000 dollars about 5years ago. No written note between them,just word of mouth.
He stopped making payments on the loan a year ago and refuses to pay! Other family members knew of this loan. What do we do?!
A:
You'd have to sue. The good news is that the brother was paying up to a year ago. Hopefully your other family members will get involved and be witnesses. Hopefully records of the brother's payments exist in some form. The mere fact he made payments should hopefully prevent him from claiming the loan didn't exist.
Andy
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