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Loan

1421 Views  ⚫  Asked 7 Years Ago
asked on Feb 11, 2011 at 18:50
by   lcong21
I would like to get some advice on loan debts.

My brother is owing his colleague more than 100k and I do not know whether this loan is under friendship loan or ????

Now, he is out of jobs and the colleague is chasing for repayment. So, far we managed to help pay back $10k but rest my brother will try to pay him by monthly repayment but the colleague is asking him to sign an agreement which we do not know what is it?

It was told that this agreemnent is prepare by his lawyer.

May I know will his colleague have the right to sue my brother?

Please advice
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