My husband and I wanted to become sole owners of our business. My grandfather at the time (23 months ago) wanted to help and loaned us 100k to buy out his partner.
We agreed to pay him back at 12% intrest, 60 months, at a monthly payment of $2,225.
We paid him regulary up to a few months ago when we spoke with him, and told him things were tight, and asked if he would take a little less for awhile, he said ok. We were still paying him between 1,000 and 1500 a month.
He then decided we were ripping him off. Started coming up to our business, talking with our secretary, and anyone else who would listen, that we were liars, and thieves, and that he was going to make sure that we were going to spend time in jail. He also said he was going to report us to the IRS, and government loan (I have a pell grant) because we are money launderers.
We have 7 children, and are more broke, at times paying our mortgage late, to pay him to avoid his harrassment.
So after a few months of this, we took out a loan, to pay him off. We did as he wanted and did transfer from our bank account to his. We have the receipts.
Now that is not good enough. After paying him off he went to our office, and friends of ours homes, and told them that we were crooked. To stay away, not do any business with us. That we are money launders and so forth and so on.
He also told my mother, he was taking us to court and saying that we didn't pay him off, it wasn't the full amount. He said that he was going to make us pay and sorry for this. (we told him if he came back on our business property we would have him trespassed).
The stress and worry and embarrassment is to much. I'm sick to my stomach and having anxiety attacks, help.
We agreed to pay him back at 12% intrest, 60 months, at a monthly payment of $2,225.
We paid him regulary up to a few months ago when we spoke with him, and told him things were tight, and asked if he would take a little less for awhile, he said ok. We were still paying him between 1,000 and 1500 a month.
He then decided we were ripping him off. Started coming up to our business, talking with our secretary, and anyone else who would listen, that we were liars, and thieves, and that he was going to make sure that we were going to spend time in jail. He also said he was going to report us to the IRS, and government loan (I have a pell grant) because we are money launderers.
We have 7 children, and are more broke, at times paying our mortgage late, to pay him to avoid his harrassment.
So after a few months of this, we took out a loan, to pay him off. We did as he wanted and did transfer from our bank account to his. We have the receipts.
Now that is not good enough. After paying him off he went to our office, and friends of ours homes, and told them that we were crooked. To stay away, not do any business with us. That we are money launders and so forth and so on.
He also told my mother, he was taking us to court and saying that we didn't pay him off, it wasn't the full amount. He said that he was going to make us pay and sorry for this. (we told him if he came back on our business property we would have him trespassed).
The stress and worry and embarrassment is to much. I'm sick to my stomach and having anxiety attacks, help.
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