unpaid debt

hi good day to all..im just new here and i signed up because i really need a legal advice..

i have partnered with someone to have a financial business..he was the one who lends money and im the one who financed him and at first it came up well but after several months it became hard for me to collect the money..i have txt messeges from him and notes that he had received certain amount from me..the amount is almost 400k..

what legal step i could make againts him so that i could recover the money because almost half of it is i only borrowed from my cousin and the rest is i loaned from several banks..

please help me on what should i do..

Hi kinrobromay16,

At the outset, if his loan is already due for payment, you can try to give him a demand letter first or you can have a lawyer draft and send one for you.

It is only when he disregards these demands for payment that you should think of pursuing actions in court in order to collect his debts.

I hope this helps.

-Atty. JB

can i really file a formal charge againts him?..my only evidence againts him is a paper which has his signature that he had recieved a certain amount from me and his txt msges..