Large sum personal loan not being repaid

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frenchmanaz

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Hi,

Thank you in advance to all who take an interest in my situation and for taking the time to respond.

A couple of years ago, my Father, A French citizen, who lives abroad, loaned a business associate, in a time of medical need, USD $ 50K. Unfortunately, my Father did not require any signed documentation upon making this loan. At the time, the person who took the loan might have been considered a friend and my Father, being a kind man, could not say no.

Over the last couple of years my Father has been repaid, monthly in the sum of $ 500, deposited into a US Bank account set up by my American mother. The payments amount to around $ 12K and are not lately as regular as promised.

To my family's heartbreak, my Mother recently passed away from cancer and my Father is in a financial squeeze. We have made contact with the person who accepted my Fathers loan to ask if he might be able to help my Father by providing him with a temporary lump sum, in let's say the $ 3-4K range. In other words we are not demanding the full sum right now, but just for this person to help my Father out in a time of need, just as my Father did when this person was in his time of need.

It is important to note, the person who accepted the loan resides in California and I reside in Scottsdale Arizona and hold US citizenship.

To make matters worse, this man in his cowardness has not bothered to even contact my Father to offer his condolences. In addition, apparently, through the grapevine my Father has learned that this person is doing very well financially and could therefore quite easilly refund a one time sum to help my Father out.

As mentioned, there are records of a couple of years of $ 500 payments to my families US bank account and a slew of personal messages referring to the loan between my Father and the recipient of the loan.

I realize that a contract would have been the best approach, but there isn't one, however, there is adequate proof ( e-mails and payments ) to indicate that the loan took place.

I am hoping someone on this board can inform me if there is any legal recourse for us. Would hiring a lawyer be of any use ? If so, might someone advise on how this lawyer would request payment and in what form.

I am not sure if it matters but my Father and I have the same name.

As mentioned, my Father and I were not looking to rob this person of his financial freedom, but given his reaction to my Father's time of need, we are forced to think about things in a different light.

Life is unfair, I realize this and I also realize that without any signed documentation referring to the loan that we might not even have a starting point, but I am hoping that someone on this board might have some advice that might help.

Thank you all again for your kind responses.

Frenchmanaz / Scottsdale Arizona
 
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