Legal Question in Credit and Debt Law in Florida

Collateral
My ex-husband co-signed a $5,000.00 loan for my daughter and put up as collateral a $20,000.00 boat. My daughter lost her job and my ex was making payments for her. He recently broke his back and has been unable to make regular payments. A judgement was made against both of them for possession of the boat. The loan company never pursued the possession of the boat, but made a verbal agreement to continue accepting weekly payments. This went on for about two months and suddenly the sheriff is coming to pick up the boat. Because the loan company continued to accept payments after the judgement was made, we thought everything was o.k.. Wouldn't the loan company have to go back to court since they made another agreement after the first judgement?

Asked on 2/05/01, 11:24 am

Anthony Comparetto Comparetto Law Firm

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Re: Collateral

Did you have this agreement in writing. You can file a motion with the court to try and enforce this agreement.

Answered on 3/19/01, 11:12 am

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