Legal Question in Credit and Debt Law in New Jersey
Debt Collection
I was engaged for two years, (in the relationship for 3) and during that time made some very, very bad financial decisions. I gave my exfiance $20,000 to purchase a home in Florida through a private lender -as he had poor credit and could not obtain a conventional loan. It was the house we were to live in after the marriage. I was (still am) living in New Jersey. I also gave him $5000 to purchase a boat that we put in my name--name removed--because I had better credit. He agreed to make the monthly payments and has been for the last year and a half until we recently ended the engagement and now wants me to come get the boat in Florida from him and make the payments. On top of that, I gave him approx. $40,000 into his bank account over 2 years (have receipts) as his truck sales job considerably slowed down and I racked up another $15,000 in credit cards to furnish and renovate our ''new'' home in Florida. Not to mention another $10,000 traveling back & forth. He now is assuming no responsiblity for anything and has run 3 months behind on the mortgage/taxes etc-all in his name.
Do I have any legal rights to collect any of the money from him? Do I have any rights to the home? How do I rid myself of the boat debt? help, please.
2 Answers from Attorneys
Re: Debt Collection
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OH, boy. The most important question is whether you had him sign any contracts or notes (promises to pay you back) or if you are on the deed to the property. You will need to sue him to get back any monies but proving that they were not gifts may be tough. Plus, he may not have any money to pay you. If you get a judgment against him, then you may at some point in time be able to get some money from him. The boat is yours and you ought to call the lender on that if there is a remaining balance to save your credit. You should find someone to sell the boat to if you can so you can pay it off if there is anything due on it. You are best to contact an attorney to discuss these things in more detail.
Re: Debt Collection
Wow, I bet you'll never do that again! I could refer you to a good attorney that could help you. I just need to know where you live. Call me at 732/247/3340 to discuss.
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