Open Question: How do you collect on a large loan given to a friend?
My husband and I loaned our next door neighbor 10K in order for him to get his tractor (trailer ) truck running so that he cold better provide for his family.
I had become very attached to their children and mother. I felt for them...the kids were sleeping on the floor. I oringinally bought a double bed sized air mattress to keep them off the floor. That got poked in the first week.
We loaned them enough money 10,000.00 to make a very good living for the family and in fact gave him loads to pick up and drop off. Threy have paid back about 600.00 in two years.
Then they moved away. I know their address in fact the mother moved back in with her father 2 wks ago...with two of the three kids 1- 4 1- 6 and the little girl 2 yrs.
The father will not let her have the baby ( a precious little girl)
When she moved back in with her dad nex door, with the two boys I felt my heart strings being pulled again...
What now? I love tose kids and have no recourse?
They have no "collateral". A judgement whould be fruitless. I guess I know I can't collect, I just wonder if I can still reaim close to those kids.