Trying to Collect on Promissory Note

In 2008, i loaned 31.000.00 to my ex-boyfriend when we were still living together in order for him to purchase a vehicle to do a transportation business. we are no longer together for about 1yr now..His business venture didn't turn out well because he did not receive the title to the vehicle that he bought until feb 2011 so the bus had been parked since that time in a storage lot which he pays for monthly..he had given me a promisory note for the amount which he was supposed to make payments on and paid in full by oct 2011. He had taken a job last yr overseas and earned over 150.000.00 and didn't pay anything on the debt.

Now he is employed by the dept of transportation in California and gets paid over 1.500.00 bi-weekly . He told me that starting this Sept. he plans on putting the bus up for sale and that i will have to pay 1/2 of the storage where it's being kept until it's sold. I feel that he has conned me and used me and is trying to get away with not paying me back.. i am unemployed currently and have limited funds but need to pursue this matter.

Comments for Trying to Collect on Promissory Note

Click here to add your own comments

Aug 11, 2011
Trying to Collect on Promissory Note
by: Debtcollectionanswers.com

You've learned a painful lesson -- never loan money to friends or family. Those kinds of loans almost always end badly.

As for your boyfriend's claim that you must pay one half of the storage fee for the bus, unless your name is on the contract for the storage, I do not understand why you would be obligated to help pay the cost. Although I am not an attorney from what you tell me, it appears to be his obligation 100%. If you want to be sure however, schedule an appointment with a consumer law attorney in your area. During the appointment, you can also ask for advice about what action/s you can reasonably take to try to get your ex to repay the money you loaned to him. However, I don't hold out much hope for that happening. Sadly, you made a big mistake when you loaned him money.




Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Member Debt Collection Questions.

Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2016 by Mary Reed and Gerri Detweiler.
All rights reserved.