Legal Question in Credit and Debt Law in Virginia
repayment of loan
My uncle decided to open up a food business with his daughter who had bad credit at the time. They both went in on it with the agrement that the daughter will furnish all the repayments of loans to my uncle if he took out all the loans. The business was established. My uncle with the loans was able to purchase all the equipment for the business. One day, he arrived at the business and found the business was CLOSED down. Everything in the business was taken by the daughter. Uncle is $150,000 in the hole with nothing to show for, since the daughter took it all. Daughter acknowledged through an Accountant that she will repay loans, but only the accountants signature is on the letter. She also had wrote a letter to her mother that she did pay some of the loan and that the next bill is in January, but continues to be diliquent on payments. Does my uncle have a chance to get her daughter to repay this loan that he signed for? He is in the mist of foreclosure if payment not current, but cannot pay for it since he is unemployed at this time.
1 Answer from Attorneys
Re: repayment of loan
Yeah, your uncle's chances of getting his thieving vixen of a daughter to repay those loans are about as likely
as the chances of this little ingrate ever even personally admitting that she really owes her father any money at all or that she ever stole a damn thing from him! In other words, roughly ZERO probability.
And, who knows, if he begins to press the matter too vigorously, she might suddenly begin having long repressed memories start to surface of her father allegedly abusing her sexually as a very little child. No, indeed, I would not put that possibilty as surely beyond the realm of the nefarious capabilities which this prodigal daughter has demonstrated thus far. No, indeed!
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