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?
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.