Consumer Law, Warranties Can I get my money back

[jbrymer11]

I loaned/financed a large portion ($65000) by using my home-equity loan to help friend start a business (Funeral Home), with the agreement that we would have a written contract between us about payments, percentage of ownership etc... It is now going on 3 years and he has not come through with a contract or any payment back to me and I now want my money back because of his neglect, lack of communication and avoidance.

What can I do?

 

[army judge]

I loaned/financed a large portion ($65000) by using my home-equity loan to help friend start a business (Funeral Home), with the agreement that we would have a written contract between us about payments, percentage of ownership etc... It is now going on 3 years and he has not come through with a contract or any payment back to me and I now want my money back because of his neglect, lack of communication and avoidance.

What can I do?

You never loan funds of that amount without a contract or promissory note.

You can hire a lawyer.
If you have any business records, cancelled checks, receipts, you might be able to recoup something.

 

[jharris352]

The first problem I see is you guys didn't have a meeting of the minds. Your story is not even consistent within the post. That isn't a slam on you just an observation. For example, you can't get "paid back" on a "loan" and expect a "percentage of ownership." Either you made an investment for equity or you made a loan for repayment. Don't commit yourself to either until you get advice from an attorney. You may have a case, just don't spoil it.