Repaying loan to an EX

[Bjjohnson]

NC I am working on paying off a loan which my fiancee' got in his name for me approx 2 years ago. We have since broken up and I have been continued to make the monthly payments to the finance company, which was the agreement we made when he opened the account. In Dec he decided to refinance the loan and borrow more money to pay off his credit cards. Now instead of him sending me the bill each month and me making the payment directly to the finance company he wants me to continue to make my original payment amount to him and he will add it to what he now owes. He has sent me a new agreement basically saying that I will do this. I have no problem with seding him the payment, I am however concerned with the fact that I am probably not going to be getting a receipt for payment (since our breakup I have made sure to keep all receipts from the finance company). My question is can a posted personal check be proof of payment, in the event that he or his new partner try anything? Or should I add a claus in the agreement prior to signing and having notorized that once my payment is mailed he will then mail me a receipt signed? Any advice or other suggestions would be greatly appreciated. Unfortunately it is not possible for me to get a loan in my name to pay this off nor do I have family members that can loan me $4000.

[Matroskin]

I d go with the claus...try to make an officla agreement, with attorney present, signed, etc...if possible

[Who's Liable?]

DO NOT DO THIS... Continue making the payment to the Finance Company yourself... This will protect you since all the power is in his hands now... If you find that the Finance Company will not take your check because your name is not on the loan, go with a NEW contract and make sure you protect yourself in it!

You need to go with the clause in order to protect yourself... The problem here is that he is including it with his new loan.. How do you know how much interest is being charged to your share of the loan? Write a new agreement stating he NEEDS to give you a receipt EVERY month that states the Amount, Amount owed, Interest Amount and Remaining balance for YOUR share of the loan... You do NOT have to sign ANYTHING...

Do NOT give him cash either! As he can claim you never gave him cash and how can you prove it? The best bet is to get a Bank check or write a personal check every month and send that to him. In the Memo area write "Loan Payment" and the amount remaining. For example "Car Loan Payment Jan. 2005, $1500 Remaining." Make a COPY of the check and place it somewhere safe where he cannot get to it... Send the check CRRR to his home address along with a letter from you stating the Month, Amount you are paying, the number of the Check, and the amount left there is to pay(make sure to make a copy of this letter for your records as well)... You will need to do this EVERY month you pay... It sounds like a pain, and it is, but it will be worth it if he ever takes you to small claims or tries to sue you for the money... You're creating a paper trail here...When you get your bank statement look it over to see if the check cleared... If the check has not cleared DO NOT SPEND the money as you will eventually need to pay it.... Plus he may try to tell the judge you never sent a check and that is why he decided to sue you... Then you can calmly hold up your copy of the letters, the copy of the check, and the confrimation of delivery from the USPS you sent every month and show the judge that he is lying...

Also, to really protect yourself, I recommend sending him another CRRR letter demanding any and all contact between the two of you, and/or his new GF to be done via USPS, and any/all oral agreements cannot be upheld unless it is in writing and signed upon by both you and him... This will protect you from him saying in court(if you get that far) that you agreed to the new conditions over the phone when he called you last week... If you do talk to him about whatever and he brings up the contract or anything related to the loan, just tell him to send it in writing and you will look it over, then tell him to have a good night...

Remember... If he writes the new contract up, you DO NOT have to sign it, and do not feel pressured into signing ANYTHING!!! As long as you are making the desired payments on time on the date specified as originally agreed upon, he CANNOT force you to make a new agreement...

As a closer... When you type the CRRR letters, at the very bottom of the page, or last page, put in the Confirmation Code from the green CRRR form the post office give you... This will match up with the receipt when you send the letter, and will make it much easier to match letter with receipt later on!

[Bjjohnson]

Thanks so much for the info. I would have never dreamed to have done all this. I feel so much more comfortable now in the situation after putting this into action. Thank you again!