QUESTION
I am a small business owner and the company gave an employee a $2500 loan. The employee was terminated and is refusing to pay back the loan. Help.
Asked on Mar 06th, 2018 on Breach of Contract - Florida
More details to this question:
My father and I own a cleaning business and the company lent a former employee $2500.00 to purchase a car to be able to perform his work duties The employee was terminated due to negligence and is refusing to pay back the loan. He will not answer calls, texts or emails at this point after promising to begin making payments three Fridays ago. The agreement states that the borrower promises to pay all costs of collection including reasonable attorney fees in the case of default.. Can someone help us?
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
There is no practical help for poor business decisions. The "loan" you made was simply foolish and you should NEVER loan money you cannotwalk away from. It will cost you more than the money lent to sue the guy and even then you get a fancy IOU called a judgement and may never see a dime if the ex employee doesn't have it to pay. This is likely an expensive lesson learned in business management.
Answered on Mar 07th, 2018 at 5:21 AM
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