old boyfriends...

[sunshine1234]

What is the name of your state? WI

I have a situation... about 2 years ago, I was dating someone who I had planned to move out of state to be with.. during our plans, he took out a $5000 loan and gave it to me to pay off some outstanding debts at home, as well as $ to get out of my lease... Well, at the last minute, things changed and I didn't move. Needless to say,we broke up. He ended up moving home (here) and we remained cordial, etc... he asked me to pay him back for the $5000, which I'm totally willing to attempt doing. He had me sign something for him saying I would make monthly payments to him by the 30th of each month, and I would pay no less than $50 / month. (assuming that some months, I would be able to pay more). Anyway, i've been keeping up with my end of the bargain, 100%. Well, today I get an email from him telling me he wants $1000 by May 1. I dont' have $1000 to give him right now. I have emailed him back explaining that that's impossible, but I'm wondering what my rights are... Can he legally do anything, can he get a judgement against me for this? my name is no where on the loan he took out... He has "threatened" me in the past saying that if I don't make monthly payments, he would take me to court. That's when he had me sign something... which again, I did and am abiding too completely. Any advice? I'm not sure what he can do next?
Thanks!

 

[BelizeBreeze]

It doesn't matter that your name was not on the loan. All that matters is the note you signed and it's language.

So, until you can type here it's entire contents, it would be irresponsible for anyone to tell you for certain what can or will happen.

Except that you owe the debt.

 

[sunshine1234]

Basically it was very simple; he typed it up.. it was a matter of 2 sentences...
"I xxxx, agree to pay xxxx a monthly payment of no less than $50 until the debt is paid off."

and then I signed my name. that was it.

 

[BelizeBreeze]

Then you are obligated to pay him and he has the right to ask for judgement. That doesn't mean he'll get it or that if he gets it, the court will require you to pay the full amount at that time.

It means you have a contract and you must fulfill the terms of the contract.

 

[sunshine1234]

I understand I have to pay him; and I have been and have every intention of continuing to make monthly payments to him... my question is, because I signed this, doesn't this mean that I don't have to pay him more all at once?

 

[toughluck73]

You have to pay him exactly what you agreed to pay him ($50 minimum). If you don’t, then he can try to get a judgment against you for breach of contract. As long as you pay him, you haven’t breached the contract you signed and that’s the end of it. He could try to get a judgment against you, but he would certainly lose, as it was put on paper and hope you saved a copy.

 

[BelizeBreeze]

You have to pay him exactly what you agreed to pay him ($50 minimum). If you don’t, then he can try to get a judgment against you for breach of contract. As long as you pay him, you haven’t breached the contract you signed and that’s the end of it. He could try to get a judgment against you, but he would certainly lose, as it was put on paper and hope you saved a copy.

Excuse me? I think you had better rethink that statement. A judgement can be entered at any time in favor of the plaintiff on such a suit.

The REAL question is regarding the validity of the contract. NOT that the contract is breached or not. A Judgement does not necessarily depend on breach.

 

[ablessin]

I hope that you kep receipts of ALL the payments you've made to him!!