loanperson
New Member
- Jurisdiction
- California
I loaned a business $35,000 for some computers a few years ago. They sent me one check, I haven't been able to find them at their business address. I have a contract.
computer debt
- Thread Starter loanperson
- Start date
mightymoose
Moderator
A few years ago? When did you receive the one payment? What attempts have you made to collect?
What does your contract say about repayment?
Visit the California Secretary of State website and do a business entity search to find the contact/agent information on file with the state.
What does your contract say about repayment?
Visit the California Secretary of State website and do a business entity search to find the contact/agent information on file with the state.
army judge
Super Moderator
The SOL prohibits collecting on a contractual debt in CA after four years has passed.
Consumer Debt in California– Debt Collection, Settlement, Regulations
zddoodah
Well-Known Member
Cool story. Do you have a question?
Ok...you got a written promissory note, right? What are the material terms (e.g., interest, frequency and amount of payments, acceleration of the debt, attorneys' fees to the prevailing party in litigation, etc.)? How many years is "a few years"?
How long ago?
"Them"? Is the borrower a corporation or LLC or some other form of business entity? What efforts have you made to find the borrower?
The SOL does not "prohibit collecting on a contractual debt . . . after four years has passed." The statute of limitations only sets up an affirmative defense. Also, most of the article on consumer debts does not apply to a "loan[] [to] a business."
Ok...you got a written promissory note, right? What are the material terms (e.g., interest, frequency and amount of payments, acceleration of the debt, attorneys' fees to the prevailing party in litigation, etc.)? How many years is "a few years"?
How long ago?
"Them"? Is the borrower a corporation or LLC or some other form of business entity? What efforts have you made to find the borrower?
The SOL does not "prohibit collecting on a contractual debt . . . after four years has passed." The statute of limitations only sets up an affirmative defense. Also, most of the article on consumer debts does not apply to a "loan[] [to] a business."
loanperson
New Member
loanperson
New Member
Contract was Jan. 2016 I had lawyers reply on other sites, they did not follow thru. I called and left messages only one reply. I heard she has property, I have enough money to pay for filing and serving papers but not for a trial.
loanperson
New Member
loanperson
New Member
Monthly payments, , signed Jan. 2016 First payment was in April
loanperson
New Member
Lease payments of $1184 a month.for 3 years. West Wholesale LLC
loanperson
New Member
loanperson
New Member
The business was in Neveda, I looked at California and Nevada and not listed
mightymoose
Moderator
So it seems the appropriate Judaization for the contact is Nevada?
This is less than two years old so you do have options.
I find possible matches for that business name in California and Nevada. If you want to give a city or an owner name I might be able to help you further.
It seems you are likely going to need legal assistance if you intend to sue, but if all you want right now is to locate them it shouldn't be too hard on your own.
This is less than two years old so you do have options.
I find possible matches for that business name in California and Nevada. If you want to give a city or an owner name I might be able to help you further.
It seems you are likely going to need legal assistance if you intend to sue, but if all you want right now is to locate them it shouldn't be too hard on your own.
loanperson
New Member
Last I heard the agent of service is in Nevada
loanperson
New Member
Yes I need a lawyer. The aagent of service was Corporate Expert, in Las Vegas,
Am I supposed to leave my phone number on here?
mightymoose
Moderator
No... Nobody will be calling you.
If you want to give the city the business was in or name of the owner I will see what I can locate for you just to provide you contact info.
You should consider taking a copy of your contract to visit a local attorney who can give you an idea of legal options to try and recover the debt.
If you want to give the city the business was in or name of the owner I will see what I can locate for you just to provide you contact info.
You should consider taking a copy of your contract to visit a local attorney who can give you an idea of legal options to try and recover the debt.
zddoodah
Well-Known Member
Ok, then even if the breach occurred immediately after the contract was made you're still within the SOL. Nevertheless, if the unpaid balance is the better part of $35k, it's hard to understand why you haven't sued already.
"She"? You wrote that you made the loan to "a business" (and subsequently have posted the name of an LLC), not an individual.
Debt collection attorneys will work on contingency not infrequently.
Lease payments? You told us previously this was a loan.
First of all, there is a Nevada LLC with a nearly identical name to the one you posted (I googled "nevada LLC search," and it took me all of about 20 seconds to find it). Second, are you seriously saying that you loaned $35,000 to a business that claimed to be an LLC without verifying ahead of time that the LLC actually exists?!?! Did you get a personal guarantee from any individual connected with the LLC?
army judge
Super Moderator
Unfortunately, she may have been a scammer using a real business to rip off innocent people.
Google "business name loan scam" and see what pops up.
Google "business name loan scam" and see what pops up.
