What is the name of your state? Florida
I lost a judgment. When the lawsuit was going on, I loaned around 12,000 dollars to my son and, after two years, he paid it back with 3% interest and I reported that interest income in my tax returns of the year in which the loaned was paid back with interest. The next year, i.e., now, the judgment is entered and he garnished my money. He is arguing that that 12,000 dollars loan, which is paid back, was fraudulent transfer, referring to http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0726/0726.html 726.105(b) and 726.106(1) states " ...Without receiving a reasonably equivalent value in exchange for the transfer or obligation." and also referring to 726.105(a) " With actual intent to hinder, delay, or defraud any creditor of the debtor;"), accusing that I made that loan just to hinder the plaintiff.
Did I violate any provision of rule 726 or anything else due to that loan? The creditor wants to simply pull my son also into this matter and get money from him as well. He is also referring to http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0000-0099/0056/Sections/0056.29.html . I lost everything. request your comments.
I lost a judgment. When the lawsuit was going on, I loaned around 12,000 dollars to my son and, after two years, he paid it back with 3% interest and I reported that interest income in my tax returns of the year in which the loaned was paid back with interest. The next year, i.e., now, the judgment is entered and he garnished my money. He is arguing that that 12,000 dollars loan, which is paid back, was fraudulent transfer, referring to http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0726/0726.html 726.105(b) and 726.106(1) states " ...Without receiving a reasonably equivalent value in exchange for the transfer or obligation." and also referring to 726.105(a) " With actual intent to hinder, delay, or defraud any creditor of the debtor;"), accusing that I made that loan just to hinder the plaintiff.
Did I violate any provision of rule 726 or anything else due to that loan? The creditor wants to simply pull my son also into this matter and get money from him as well. He is also referring to http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&Search_String=&URL=0000-0099/0056/Sections/0056.29.html . I lost everything. request your comments.