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RPM Motorsport Canada

Subject: Help please??? (LONG) (Legal advice)
Author: captainsilva : member since June, 2008 : 1211 posts
Posted on: 2010-03-01 11:53:13      
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I started a small business some time ago with a partner (mutual friend at the time) that lasted for a few years. My partner and I had a falling out, and he told me he didn't think the business would "last as long as I was a part of it."

I chose to take a 2 week hiatus to let things cool off, as well as let him run the place "on his own" to see where things went. Consequently, our employees (all 2 of them) walked out as well, and the doors were shut within two weeks.

Since my partner was young at the time, he hadn't built up any legitimate credit history. My credit was excellent (at the time) and I took out a Small Business Loan in my name in the form of a Business credit card,along with a few other small loans, etc. (STUPID, I know...chalk it up to being young and dumb.) Having cleared up a few debts still owed, I recently got hit with a rather significant one.

Now that my ex-business partner and I no longer speak, he's pretty difficult to get in touch with. We agreed everything was 50-50 in the beginning, and I feel that it's his responsibility to at least pay half of this debt, regardless of who's social security number it is attached to.

Do I have a leg to stand on here? If so, what are my options? I'm broke...I don't have the disposable income to throw a retainer on a high-priced lawyer. My credit is pretty horrible now because of this previous business venture, and it's basically stressing me out to death.

For some reason, I felt comfortable enough posting this very personal information on this board. I think that we have a really unique and special group of members here, and I'm really hoping for some positive feedback here. Thanks in advance.

Enjoy the drive!
-Mark




1999 740iL Biarritz Blau Metallic
140k
talk2silva@gmail.com

Mods include: 7" Flip-out CD/DVD/TV/Mp3 head unit, iPod interface, (2) 12" subs, (14) amplified interior speakers, blue suede door trim, AC Schnitzer Aluminum Pedals, custom stainless steel quad-tip exhaust, 18" M-parallels, cross-drilled & slotted rotors with ceramic pads, 10k HID lows & fogs, 2001 front signals & rear tail lights, clear side markers, LED Angel Eyes (Thanks Jay), chrome grille.

In the garage:
1985 Chrysler Fifth Ave - 88k (Sunday Cruiser)
1988 Nissan Sentra - 62k (Daily Driver-26mpg!)

At the dock:
32' Wellcraft Coastal Sportfisherman (-1mpg)



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