QUESTION: Dear Legal Wiz,
My wife and I were made redundant and so we started lending out the redundancy money. We hoped we could earn from the interest. We did up a company letterhead and started lending out. A lot of the persons refuse to repay. These persons were our friends are giving us problems to return the monies.
We need to sue.
RESPONSE: Dear Shawn,
At the court there is a list of what you need to sue. The fact that you loaned the money using a fictitious name, you must register that name so you can start the claim under that name. There is an accepted rate of interest you are authorised to charge and claim in court unless you meet certain requirements. So you may need to meet up with an attorney to go over all of this and to set up a proper loan package for you which you can use with future clients. All the best.
The above does not constitute legal advice. Inhouse senior journalists research and discuss with specialists eg attorneys-at-law, as necessary before posting responses. In conclusion, names are changed at times by request.
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