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Thanks for the input and advice. I'm certainly *not* going to take out a personal loan to pay him back—why would I subject myself to paying interest just to pay him back? I can deal with the occasional obnoxious phone call or e-mail.
Anyway, he does get paid a set amount each month. I pay more when I can, but I had to knock it down a bit a few months ago because of an unexpected vet bill. I'm not going to dip into my savings or take out a loan to pay this guy back. As I'm sure you all can imagine, when we were together it was, "Oh, I know you're good for it. You can pay me back however works best for you."
Like I've said, I've never stopped paying him, which is why his harassment and threats are so unfounded, in my opinion.
Well, did it ever occur to you that maybe he's in a financial bind now and could really use the money? He was nice enough to loan you the money for a purchase (I'm assuming that to mean something you most likely didn't really need, forgive me if I'm wrong).
You indicate that you actually have the money in savings to pay him back if you really wanted him out of your hair, but you don't want to....
If you are truly not worried that he has a leg to stand on in court, then keep doing what you're doing. But I don't personally think that the "occasional" (your words) phone call or emails are harassment. He has every right to try and collect.
Not sure why so many posters on here make the lender of the loan out to be the bad guy. Maybe he's frustrated because of her paying one amount and then reducing it.
Since there is a pattern of payment it can be seen as a loan. Since there was no documentation a collection agency wont touch it. A lawyer will be over $100/hr so I doubt it would be worth it to hire one over such a small amount. If you keep making payments, no court/collector will bother you.
Agree with keeping records of his phone calls (dont tell him) so you can possibly sue for harrassment.
Well, did it ever occur to you that maybe he's in a financial bind now and could really use the money? He was nice enough to loan you the money for a purchase (I'm assuming that to mean something you most likely didn't really need, forgive me if I'm wrong).
You indicate that you actually have the money in savings to pay him back if you really wanted him out of your hair, but you don't want to....
If you are truly not worried that he has a leg to stand on in court, then keep doing what you're doing. But I don't personally think that the "occasional" (your words) phone call or emails are harassment. He has every right to try and collect.
Not sure why so many posters on here make the lender of the loan out to be the bad guy. Maybe he's frustrated because of her paying one amount and then reducing it.
I agree with you. I think this is a guy that is worried he will never see his money again. He trusted her with it. How does this make him a jerk? No it isn't harassment.
I missed where she said she had it in savings. If this is the case and shes paying it back in ridiculous and increasingly smaller increments I consider that theft.
Tell me OP, what did he do that he deserves to get money stolen? I mean other than the phone calls to try and collect on a debt that you do owe him.
About a year ago, my boyfriend at the time loaned me some money for a purchase (less than $2k). We broke up about six months later. I've continued making monthly payments to him, although the amount I've been paying is not been as much as he would like—he lets me know this regularly, but I pay what I can afford to.
Now, he's threatening to send me to collections. There was never any written contract (although he did *try* to get me to sign one last month ) and he doesn't have my SSN, etc. In fact, I live in an entirely different state now and I don't even think he has my new address. My question: can he really send me to collections? It just doesn't seem possible without a promissory note. What if he were to somehow find my SSN? Any recourse then?
I have no other debt or credit issues, so I'm not exactly terrified. I just find these threats comical and am wondering if I should perhaps be taking them seriously?
No he cant..he can try..but he wont win in court..If you acknowledge this is a loan and you've been making monthly payments you may have to continue with the payments be a certain amount each month..
Have you been documenting every payment you have given him? Do you have proof of these payments?
He cant take you to collections, but he is entitled to get the loan back the lend you. with resonable amount of payments and resonable amount of time.
Nocontengencies, what did I do to **** you off? I did not and am not stealing from him, so I don't appreciate you talking to me as such.
The money that I have is in a trust that I don't have direct access to, so it's not like I can just take it out to pay him back with. Sorry if I made it seem like that. The amount I've paid him has also varied due to, as I said, an unforeseen vet bill, and the fact that I'm a freelancer so my income fluctuates. I don't feel like I should have to explain every detail of my life on here, but if it keeps me from being attacked...
Also, I use the term harassment loosely. I don't mind him contacting me about the matter. It is his money and yes, he does deserve to be paid back, but I don't like his pseudo-legalese and threats.
Additionally, not that this particularly matters, but he is still finishing up his undergraduate degree and is 100% supported by his (wealthy) family, so, basically, it was his parent's money that he loaned to me. His parents don't know about his little loan and I imagine wouldn't be too thrilled if they knew that he did so without a contract. His parents are still close friends of mine. He receives an excessive allowance every month, which is how I know he's not exactly strapped for the money.
Nocontengencies, what did I do to **** you off? I did not and am not stealing from him, so I don't appreciate you talking to me as such.
The money that I have is in a trust that I don't have direct access to, so it's not like I can just take it out to pay him back with. Sorry if I made it seem like that. The amount I've paid him has also varied due to, as I said, an unforeseen vet bill, and the fact that I'm a freelancer so my income fluctuates. I don't feel like I should have to explain every detail of my life on here, but if it keeps me from being attacked...
Also, I use the term harassment loosely. I don't mind him contacting me about the matter. It is his money and yes, he does deserve to be paid back, but I don't like his pseudo-legalese and threats.
Additionally, not that this particularly matters, but he is still finishing up his undergraduate degree and is 100% supported by his (wealthy) family, so, basically, it was his parent's money that he loaned to me. His parents don't know about his little loan and I imagine wouldn't be too thrilled if they knew that he did so without a contract. His parents are still close friends of mine. He receives an excessive allowance every month, which is how I know he's not exactly strapped for the money.
You didn't. I'm just giving my opinion.
I don't think him needing the money or not matters, nor does it matter that his parents are rich. It doesn't make what you are doing OK.
And your reason for not telling his parents? It is because you don't want them to know what you did, isn't it?
I don't think him needing the money or not matters, nor does it matter that his parents are rich. It doesn't make what you are doing OK.
And your reason for not telling his parents? It is because you don't want them to know what you did, isn't it?
It doesn't make what I am doing okay? So, making loan payments when I can and in what amount I can isn't okay?
Why would I tell his parents? I don't care if they know—he offered to make the loan, I never asked for it. I've only refrained from telling them for his sake.
Anyway, thanks to those who objectively answered my question and gave me advice.
Of course he can sue you and he will win because you did borrow the money and you did agree to repay it and in fact you did make payments. What are you going to do? Lie in court? Say you didn't borrow the money?
He will have to sue you in the state where you live, although if he sues you in his home state you will have to get a lawyer to get the case dismissed there. But, if he sues you in your state, he has a good case.
Its a contract not in writing and the statute of limitations for this is shorter in some states. If you post your state, I'll look it up.
Quote:
Originally Posted by NY Annie
1. She doesn't HAVE to get a lawyer - she can respond by mail in small claims court or travel there.
Well, if he sues her in his home state, she will have to file a motion to dismiss with a legal memorandum based on his state law. I've lost many of these on better facts than she has here because she used to live there and the loan was made there. Her best arguments are forum non conveniens and that the cause of action did not accrue untill she was in New York. She will have to have a pretty good skill set to articulate those theories. Then, she will have to go back there for a hearing on the motion. Or, she could get a lawyer, like I said.
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