What is the name of your state? FL
My husband and his ex were divorced 5 years ago in FL. In their final decree there was a debt that was in her name but he was responsible for paying off. We made the monthly payments until she decided to buy a home herself with her new husband. Her credit was so poor that in order to get into the home she had to pay off this debt immediately in its entirety. (She asked us to but we declined as it was not our problem and we had other debts were paying as well) She took it upon herself to pay it off and asked for us to pay her directly. We made the same monthly payments to her up until she started to owe us money for another issue where she is to reimburse us regularly for child care costs while we have the children. The balance at the time we stopped paying was $250. We never paid the remaining or made payments as she owed us over $1000. She is now saying that she is applying that money to the interest and late payments she is charging on the $250. We had no formal promissory note or agreement of repayment terms just a verbal agreement to pay it back. She says she has consulted a lawyer who told her it was legal for her to charge this-and at the rate the card was acruing interest 20.98%. This seems quite like loan sharking to my husband and I and highly illegal-is there anyone who knows anything about the legality here? Or any resources we could see on the subject?
My husband and his ex were divorced 5 years ago in FL. In their final decree there was a debt that was in her name but he was responsible for paying off. We made the monthly payments until she decided to buy a home herself with her new husband. Her credit was so poor that in order to get into the home she had to pay off this debt immediately in its entirety. (She asked us to but we declined as it was not our problem and we had other debts were paying as well) She took it upon herself to pay it off and asked for us to pay her directly. We made the same monthly payments to her up until she started to owe us money for another issue where she is to reimburse us regularly for child care costs while we have the children. The balance at the time we stopped paying was $250. We never paid the remaining or made payments as she owed us over $1000. She is now saying that she is applying that money to the interest and late payments she is charging on the $250. We had no formal promissory note or agreement of repayment terms just a verbal agreement to pay it back. She says she has consulted a lawyer who told her it was legal for her to charge this-and at the rate the card was acruing interest 20.98%. This seems quite like loan sharking to my husband and I and highly illegal-is there anyone who knows anything about the legality here? Or any resources we could see on the subject?