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Posted

OK, this is kinda a long story, but here goes:
I'm the only one from our family who currently has a job and I'm making only enough to cover house payments and bills. So my brother, after workin a few jobs and quiting after a few weeks on each one, decided to open a business with two "friends".

They got a loan for ~$26.5k from one of the friend's brother and bought a load of electronics and stuff to sell. The guys didn't want to do any of the work; my brother was doing all the selling and they told him to give all the money to them, supposedly so they could start paying off the dept.

So my brother descided to buy the whole load and do it all himself, so now we'll have to use an equity loan to pay off the $26.5k plus $3600 more that the guy who loaned them the money has demanded on top of the money he loaned (interest).

The problem is they don't really wanna cooperate; we want them to put all the stuff in the storage, then we'll give them the money, but they don't want to and it's a huge mess.

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Posted

thanks. My mom said that my brother payed for the full load with the equity loan and the guys returned the stuff (don't know if they stole anything) so now all we need to do is sell the stuff to return the money and hopefully make a profit.

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