Legal Question in Credit and Debt Law in Minnesota

Judgement

5 years ago i bought a business with a person . I bought in for 25% we paid 10,000 down of the total 35,000 in which jan 1 each year pay another 10,000 until its paid for with interest. Well 6 months in we didn't get along and parted ways he paided me back the 2,500 in had invested. Now a month ago I tried to get a loan and they told me I got a 25,000 judgement on me is there anything I can do?


Asked on 10/24/07, 1:19 am

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: Judgement

Alot depends on how the business and the lawsuit were structured. I would review the court file and any documents you had and then advise on best course of action. You may have rights against your former business partner.

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Answered on 10/24/07, 6:59 am


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