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Can I get my loan money back?

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1 Can I get my loan money back? on Wed Aug 12, 2015 11:43 pm


Arresto Menor
I started a business with my friends last June. I was the one who applied for the loan to serve as the capital. But then, circumstances happen and I have to leave them as well as the business. I apologized but they don't want to return my money. Since we were friends, we did not make any contracts or agreements on paper. Do you think, I can still get my money back? Is there a legal way?

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2 Re: Can I get my loan money back? on Thu Aug 13, 2015 5:42 am


Reclusion Perpetua
I suppouse your friends agreed to something, when you agreed to apply for the loan for the business.
YOU have broken the deal by not doing part of the wotk you have agreed to do, which make the situation complicated, but you money investment is still an investment in the business.  
I INTERPRETE it as you have right to SOME of your agreed part of the result, but less. So I hope they manage to get a profit   Smile

If you are lucky, your agreement was the profit will go to pay the loan back with high priority, because that would be a some stronger situation for you.

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