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Concerning Small Loans with Ex-Partner

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MagsDarling

New member
Last year, my partner and I were happily building a life together. We took out a 5 grand loan for a car, which we purchased from my brother. Currently this is half paid off. Next, we took a 5 grand loan, to buy equipment to start a business- which he agreed to have singularly in his name- because I was diagnosed with MS, and was nervous that if I had to apply for disability in the future, I would be less likely to get it. I did everything to start the business, filing llc, licenses, writing operating agreements- which did have my name on it- signed and approved by us both.

Unfortunately, after 6 months of trying to work things out, it ended badly. I had to move to FL from WA, for my health (MS), leaving it behind. We currently are only half-way through paying the loans. Our first verbal agreement was quick- essentially ended with he gets everything, and has to continue to pay, leaving me with nothing, and no bills. However, after all of my investment- paying at least half of the loans- I am wondering what my legal options are? I understand the bank owns both things over us, however, I no longer have access to either of these - car or laboratory. He doesn't sound like he will want to pay me out of what I paid in, and while I would be okay with taking either the lab or the car, and continuing to pay whatever loan applies, I don't think a mutual agreement is reachable there, either.

What are my legal options? Our accounts are still tied together, we were never married.
 


Zigner

Senior Member, Non-Attorney
Last year, my partner and I were happily building a life together. We took out a 5 grand loan for a car, which we purchased from my brother. Currently this is half paid off. Next, we took a 5 grand loan, to buy equipment to start a business- which he agreed to have singularly in his name- because I was diagnosed with MS, and was nervous that if I had to apply for disability in the future, I would be less likely to get it. I did everything to start the business, filing llc, licenses, writing operating agreements- which did have my name on it- signed and approved by us both.

Unfortunately, after 6 months of trying to work things out, it ended badly. I had to move to FL from WA, for my health (MS), leaving it behind. We currently are only half-way through paying the loans. Our first verbal agreement was quick- essentially ended with he gets everything, and has to continue to pay, leaving me with nothing, and no bills. However, after all of my investment- paying at least half of the loans- I am wondering what my legal options are? I understand the bank owns both things over us, however, I no longer have access to either of these - car or laboratory. He doesn't sound like he will want to pay me out of what I paid in, and while I would be okay with taking either the lab or the car, and continuing to pay whatever loan applies, I don't think a mutual agreement is reachable there, either.

What are my legal options? Our accounts are still tied together, we were never married.
Huh? You already made an agreement. You walk away with nothing and no bills. He gets everything and pays the bills. What further agreement needs to be made?
 

MagsDarling

New member
The verbal agreement never included I be written out of the business, which he is insisting I am. I built that business, it affects my career if I am. It is a paper trail I want to keep for my references. A verbal agreement is nothing if not on paper. I want to know my rights on paper. The verbal agreement was also made in trust, which he broke after several other agreements went to hell due to his actions. To be completely honest, this is a person who needs anger management, and I can move on saying that I felt pressured to make any agreements I did.
 

Zigner

Senior Member, Non-Attorney
The verbal agreement never included I be written out of the business, which he is insisting I am.
Our first verbal agreement was quick- essentially ended with he gets everything, and has to continue to pay, leaving me with nothing, and no bills.
Based only on what you've posted here, I'd say he's right. You're trying to renege on your agreement. Yes, it was a verbal agreement. Legally speaking, you are wrong when you say that "a verbal agreement is nothing", although I do agree that it's hard to prove. Your attitude does, however, speak volumes about your character.
 

zddoodah

Active Member
Last year, my partner and I were happily building a life together.
I assume you're using the word "partner" to refer to a boyfriend or girlfriend, as opposed to a business partner.

we took a 5 grand loan, to buy equipment to start a business- which he agreed to have singularly in his name. . . . I did everything to start the business, filing llc, licenses, writing operating agreements- which did have my name on it- signed and approved by us both.
Given your statement that the business (apparently an LLC) is "singularly in his name" (which I assume means your "partner" is the sole member of the LLC), I'm not sure what you mean by "which did have my name on it." What had your name on it, and what does having your name on it mean?

I had to move to FL from WA, for my health (MS), leaving it behind.
What is "it"? Your relationship with your (apparently now ex-) partner? The car you bought together? The LLC? Something else?

However, after all of my investment- paying at least half of the loans- I am wondering what my legal options are?
With respect to the car, it depends on how it's titled. With respect to the LLC, if, in fact, your ex-partners is the sole member, then you have no rights to anything connected with the LLC, unless there's some agreement that says otherwise.

I understand the bank owns both things over us, however, I no longer have access to either of these - car or laboratory.
Laboratory? Huh?

A verbal agreement is nothing if not on paper.
That's completely wrong.
 

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