Hi, I’m not sure your actually going to be reading or if you can actually help me so let me explain my situation.
My neighbor has had his own business for 10 years. He came to me back in March about if I was really interested in his business that he needed a loan for $50,000 in order to open a store for consumers to come to. He showed me his ideas and how he would sell his services and what he would offer to people, I liked the idea and wanted to give him the money. He had told me with this money not only would he be able to open his store but because of the big favor of me helping him out he and his wife agreed to give me 25% ownership and pay me back the money. We hadn’t signed any paperwork yet most because I didn’t have all the money yet and I took his word for it…later to be a mistake. I did get the $50,000, I was able to do so by going through some company he knew that took my great credit score and ran it through several banks to get me several credit cards that equal to the amount of $50,000. However after this whole process it took my great credit score and now I am in the 500 range of credit scores.
Fast forward 2 months, the store was opened but then he closed it because he said he had no more money and needed more from me. Of course I told him no and he closed down the store, only opened for a month! They never signed the paperwork for the ownership and never signed the paperwork for paying me back. He and his wife say they “might” have a payment for me in September but they aren’t exactly sure. He tells me “well, even if your credit gets destroyed you will be good in about two years tops after you rebuild your credit, you will be fine don’t worry about it, I’ve been threw worse than you”. This conversation made me feel like I had a knife in my back. They are ignoring my phone calls and don’t make any attempts to make me feel more secured that they will have a payment for me in September.
I just want to pay off the $50,000, nothing more. That’s all I want to do and learn from this life lesson. What’s hard is, my girlfriend that I have been with for 5 years, we celebrate our 6 year anniversary in November and she graduates college with her bachelors in December. Before these events with my neighbor, my girlfriend and I have been talking about getting a place together, I wanted to surprise her in January by getting us an apartment. Unfortunately with this $50,000 debt I can’t do that and I don’t want to loose her, she is my world. I just need some help to pay this $50,000 off. If you can help me, please.
I attached a picture of one of the cards that I owe.