5 Star Bait (Elizabeth Rae Becker and Paul M. Baker Elizabeth Rae Becker (My Daughter) Paul M. Baker. New Age Installs LLC Elite Armor INC 5 Star bait LLC Baker Boatworks LLC None payment on a Promissory Note in the amount of $25,000.00 Dollars Milton Florida
Elizabeth Rae Becker is my Daughter and her soon to be Husband Paul M. Baker talked my wife and I into loaning them money to start a business for an Oyster farm. My wife and I talked about and loaned them the start-up money. We loaned them $25,000.00 Dollars with the promise of repayment through a Promissory Note. The Promissory Note was notarized by Layne P. Dillard FF 955469.
Paul told us that he was a man of his word and that the money would be repaid in 1 year. If not 12%, would be carged to them for the $25,000.00. We understand about failures when it comes to business, However you don't borrow money without the intentions in not paying it back. When a person starts up a business it is not to screw family out of thier money.
The business should be about repair, paying the backers of the LLC. Shutting down the business so you don't have to pay your backers. Starting up a business in which you have no training in to begin with, or going from one thing to another. Just to keep family you owe money to from finding your true intentions. Telling the public that you know how to do something is what you did. You are advertising and don't know what you are even talking about. All the talk in the world and nothing to back it up with is BS, from a pro-rip off Man and his Wife.
2 Updates & Rebuttals
Eugene
Pearcy,Arkansas,
United States
Pressured into reporting by Elizabeth Becker that the Loan was Paid in full
#3Author of original report
Sat, March 10, 2018
When my daughter (Elizabeth Becker) was informed of the Rip Off Report, she called me and stated that the two of them (my soon to be Son-in-law Paul Baker) were livid.
She informed me that Paul was called by the office, the Boss wanted to know why I reported that he never paid back the loan. Elizabeth stated that I should write a rebuttal and say that the loan had been paid off for the better of his (Paul's) new business (Baker Boatworks LLC).
After I wrote the rebuttal, she called me back a few days later and stated she was pleased with it. I talked to Paul about a week later on the phone and he stated that he did not have to pay me back any of the $25,000.00 because 5 Star Bait LLC. had filed Bankruptcy in January of 2017. Paul stated to me that if I didn't like it, I should contact his Lawyer.
Gene
Eugene
Pearcy,Arkansas,
United States
Loan Paid
#3Author of original report
Sat, February 03, 2018
The money owed has been repaid.
Gene