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Need advice - My father in law has taken our life savings, and is stringing us along about repaying us.
I’m not sure if we’ll ever see it again! Here’s the story: My husband and I had $50,000 saved up for a house that we weren’t touching until we were ready to buy. Most of the money came from inheritances from my family. My father in law, a real estate developer, asked us to invest in a project at a 15% interest rate, and assured us we would have the money in about 3 months. I was against it, but my husband wanted to forge a closer relationship with his father, so we agreed to the investment. Long story short, it has been 1 1/2 years, the project has fallen through, and our in laws are waiting for their house to be foreclosed on and declare bankruptcy. We have a written contract, but my husband says that if we sue now, then the bankruptcy courts will go after us later. I am angry, hurt, sad, you name it. My father in law acts as if nothing is wrong, does not make apologies for the situation, and I cannot continue to be cordial at family gatherings. How do I handle this? Get a lawyer? (we do not have much extra money.) Cut off all ties? (we have two children - their grandchildren.) My husband, though devastated by the situation, is on the same page as me. Any advice would be appreciated.
This open post was written 1 year, 4 months ago | V/U/S: 159, 2, 2 | Edit Post | Leave a reply | Report Post
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