Debt Collection

How do I go about settling 8K in debt that my soon-to-be ex boyfriend owes- should I demand to keep his expensive electronics?

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Wiki User
2007-05-19 01:39:59

I'd recommend that you consider a few things: 1) Did the 8K get

used to buy the electronics? If so, you could keep the electronics.

But would you rather have the money or the equipment? You can't

have both. 2) Was the 8K a gift or a loan? If it was a gift, you

won't be able to collect the money. You can't change a gift into a

loan just because you're breaking up with him, etc. If it was a

loan, then you should try VERY HARD to get that information into

writing with his signature. Granted, he may not be inclined to sign

anything. So, see if you can find other people who are aware that

it was a loan, not a gift. Get their statements in writing and have

them notarized. 3) If it was a loan, you should set up a payment

schedule with your boyfriend. Again, he may not agree to this. If

he refuses to pay, then you need to do two things: make the

payments on the loan yourself (otherwise your credit score will

suffer) and sue him for the money. Here's where the documentation

will become crucial. He will probably claim in court that the money

was a gift. If you want that money back, you'll have to prove that

it wasn't. If he's made any payments on the debt or made comments

acknowledging that it was a loan, find those records (notarized

statements, cancelled checks, receipts you gave him for the

payment, etc.). Otherwise, it will be your word against his.

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