Failure to Obtain Securities Interest

[STDXH]

I was divorce in Texas in 2006. As part of the decree my wife was ordered to assume credit card debt totaling roughly 20K which was immediately paid off by her parents. I was order to make monthly payments totaling 20K plus ten percent interest. To date I have satisfied the principle, however, my payments are now going toward the interest. Per the decree, I was ordered to:

"to sign Security interests which shall be prepared by counsel for Petitioner and approved by counsel for Respondent on each title listed above to secure payment of the judgment.
This award for reimbursement is part of the division of community property between the parties and shall not constitute or be interpreted to be any form of spousal support, alimony, or child support."

My ex never prepared or presented to me these security interests. If I refuse to continue paying the payments per the judgment, what are the potential ramifications to me?

Thanks

 

[mistoffolees]

You could potentially go to jail for contempt of court if you stop following the court order.

If there's a disagreement on issues, let the court make the determination. Taking the law into your own hands is asking for trouble.

Furthermore, the fact that you don't have a security interest at this point may not be a big deal. How much is left on the debt to be secured at this point?

 

[LdiJ]

And even if you don't get jailed for contempt, you can be heavily fined by the court for contempt. Jail isn't the only potential consequence that could hurt.

You are in the home stretch at this point. The interest cannot be too high over less than a 4 year period.

 

[STDXH]

Thanks for the replies. It was my understanding that the way the decree was drafted, I could not be held in contempt and that the only recourse would be surrendering the assets secured by my ex.

Fraud has been mentioned...how could this be?

 

[STDXH]

It appears that I was not clear. My ex was supposed to obtain security interests in 3 vehicles that I own in order to secure my debt to her. She never did so. What recourse does she have?

It is my understanding that at this point, this decree is simply a business contract and would have to be pursued in court accordingly.

Correct, the amount is not the issue, its the principle. I signed this to be done with it.

 

[LdiJ]

It appears that I was not clear. My ex was supposed to obtain security interests in 3 vehicles that I own in order to secure my debt to her. She never did so. What recourse does she have?

It is my understanding that at this point, this decree is simply a business contract and would have to be pursued in court accordingly.

Correct, the amount is not the issue, its the principle. I signed this to be done with it.

Where did you get that understanding?...and who is telling you that you cannot be held in contempt?

 

[mistoffolees]

Thanks for the replies. It was my understanding that the way the decree was drafted, I could not be held in contempt and that the only recourse would be surrendering the assets secured by my ex.

Then maybe you should tell us what it says rather than expecting us to make guesses on incomplete information.

 

[mistoffolees]

It appears that I was not clear. My ex was supposed to obtain security interests in 3 vehicles that I own in order to secure my debt to her. She never did so. What recourse does she have?

It is my understanding that at this point, this decree is simply a business contract and would have to be pursued in court accordingly.

Correct, the amount is not the issue, its the principle. I signed this to be done with it.

You're playing silly games. She was supposed to get a security interest in your vehicles to ensure that you pay her what you owe her. If you don't pay, she can take the vehicles. The fact that she didn't get the security interest (perhaps she trusted you-which is looking like it may not have been the best move on her part) may make it more difficult for her to take the vehicles (she'll need a court hearing), but it won't stop her.

You have an agreement. Honor it. You can't argue your way out of doing the right thing just because you think you might be able to find some way to twist things to your advantage. You have an understanding and she and the court share that understanding. Stick to it.