Mark Highbaugh
Junior Member
What is the name of your state (only U.S. law)? Georgia
In 2001 I bought a pizza store from a guy. In the contract it stated that this was to be a debt free transaction and any attempt to collect debt from mew would be grounds to rescind the contract. After making 4 months of payments, the bank came to repossess all the physical assets. The equipment was old in in poor shape so I told them to go ahead. At this point they started telling me how much the guy owed them and begged me to rescind the contract and pay off his creditors. After several discussions with the Banks attorney and the Bank President , I decided that was the right thing to do.
I paid off all his debts which was close to the original purchase price and everything was fine for 3 years. Then the guy filed bankruptcy and I was sued for $500,000 claiming that all the payments I made to the creditors were :gratuitous"
I fought the case for over a year before I relented to my lawyers and settled. The President that told me over and over that I was doing the right thing was fired right before this case came to be. This fiasco has since ruined my life. I had to sell my business and wasn't able to pay off all my debts. I owe tens of thousands in taxes. The stress caused my wife to have a total breakdown. She was in fine health until this and now is on disability with PTSS, agoraphobia, bipolar depression and more. She's a total mess now. I feel I was treated unjustly mostly by the bank, but also by my own attorneys that I had to hire hastily.
I'm now unemployed and owe over $100,000 in taxes and past debts associated with the business. my question is, do I have a case to sue anyone over this? What kind of attorney should I look for if I do?
I'll check back on this forum, but Ill leave my email address if anyone want to contact me that way. I appreciate any advice I get.
Thanks
In 2001 I bought a pizza store from a guy. In the contract it stated that this was to be a debt free transaction and any attempt to collect debt from mew would be grounds to rescind the contract. After making 4 months of payments, the bank came to repossess all the physical assets. The equipment was old in in poor shape so I told them to go ahead. At this point they started telling me how much the guy owed them and begged me to rescind the contract and pay off his creditors. After several discussions with the Banks attorney and the Bank President , I decided that was the right thing to do.
I paid off all his debts which was close to the original purchase price and everything was fine for 3 years. Then the guy filed bankruptcy and I was sued for $500,000 claiming that all the payments I made to the creditors were :gratuitous"
I fought the case for over a year before I relented to my lawyers and settled. The President that told me over and over that I was doing the right thing was fired right before this case came to be. This fiasco has since ruined my life. I had to sell my business and wasn't able to pay off all my debts. I owe tens of thousands in taxes. The stress caused my wife to have a total breakdown. She was in fine health until this and now is on disability with PTSS, agoraphobia, bipolar depression and more. She's a total mess now. I feel I was treated unjustly mostly by the bank, but also by my own attorneys that I had to hire hastily.
I'm now unemployed and owe over $100,000 in taxes and past debts associated with the business. my question is, do I have a case to sue anyone over this? What kind of attorney should I look for if I do?
I'll check back on this forum, but Ill leave my email address if anyone want to contact me that way. I appreciate any advice I get.
Thanks
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