Legal Question in Civil Litigation in Minnesota
Good Afternoon,
I had been working with an individual named Walter R. in Minnesota from October 2009 until April 2010. He asked if I would agree to loan some money in exchange for a "sweetheart" deal. We both signed two demand notes. The first was for $5,000.00 with an interest of the same to be paid to total $10,000.00 at the time due in February 2010. The second was for $1,000.00 with and interest of the same to be paid to total $2,000.00 at the time due also in February 2010. This demand note was to be paid in full by February or the time the houses we were working on together sold, whichever came first. Well, February came and I was not paid. I asked for payment repeatedly and the houses had not sold, so this was his excuse. Finally one of the houses sold and he still claimed that he could not pay me because he did not make enough money on the house. In the end, I informed him that I would no longer work or invest with him. Now when I have called or emailed he will not answer or reply. To be clear, this was a personal loan, not to a company. The demand note states that legal bills will be covered if I need to prosecute. I would like to know what my options are and what I can do. I am currently living out of the country, which makes all of this much more difficult. Not to mention that I basically invested all of my savings with him and cannot afford professional legal help at this time. Please help!!!
1 Answer from Attorneys
If you cannot afford to hire a lawyer, you would have to retrun to the state to file an action against the debtor in Conciliation Court where claims can be filed up to $7,500.