My question involves business law in the state of: Florida
I know this is an off topic email but i could really use some advice/help with a situation i am in.
My old boss who is going through a hard time financially owes me $28000. His credit is poor-fair. He doesnt know when he will be able to repay me. We agreed recently that given this factor a interest rate should be assigned to the owed money. Do you have any recommendations for a fair interest rate for him, who by the way happens to be a semi friend yet has been reluctant to address the debt. He has now owed me the total of $28,000 for a year now.
He doesnt have any real assets besides a pension and little money in the bank.
Thank you for any help you can offer