Hello, I am a jobless artist/musician in hard times and have a jilted ex-lover who had borrowed me money ($6000) to pursue my art. I signed a payback note before the economic crash and now he's demanding me to make payments even though I'm jobless and without income. I have not had a job for over 20 years and have no property except for my guitars. He's threatening to sue me from CT- I live in Seattle.I have never made more that $5000 a year and live hand to mouth. He is just being mean because I wouldn't be his kept house boy (he's a priest) and I beg him to understand the horrible financial circumstances of the world (he inherited money and home from an uncle) I've told him that I intend to pay but need time to find a way. He's scorned and mean! What can I do to keep this shark at bay?
Real Estate Attorney
The short answer is yes he can sue but the chances of collection sound poor.
You will need to consult with a consumer protection lawyer locally.
1. Start keeping a detailed log of all calls and letters. You should also demand in writing all communications from creditors is in writing.
2. Do not give them any personal information because that is how collectors decide on which accounts to recommend suing.
3. If you are going to make payments use money orders and not personal checks or “check by phone” because if they find a bank account the collector will be more likely recommend a lawsuit the their legal department.
4. All collections are negotiable.
If you are going to settle mark the check “settled-in-full” at the very top back of the check and include a letter explaining you are offering a settlement, keep copies of everything
5. Get written confirmation of any payment plan the agency will accept.
6. Specify in writing all payments will be applied to principle first.
I have pasted a link to the FDPCA to help you with your federal rights;
I hope this information and generic advice is helpful.
International Law Attorney
The threat of a suit does not sound credible and the judgment, if any, could not be collected. You should however pay your debt when you are able to do so.