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My father in law owes me 20 grand and wont return my calls

Discussion in 'BBS Hangout' started by mateo, Aug 29, 2009.

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  1. Manny Ramirez

    Manny Ramirez The Music Man

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    edit.
     
    #81 Manny Ramirez, Aug 31, 2009
  2. Mrs. Valdez

    Mrs. Valdez Member

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    No matter how busy your wife is you need to let her know about this loan. If that's not generally her domain you don't need to stress her out about it by asking her to deal with the mess. But she should be aware of it or she won't understand why you are hesitant to buy more house, for example.

    Money is the top issue that leads to divorce.

    Also, as a general rule you should NEVER agree to keep a secret from your wife. Anyone who asks you to is asking you to undermine your marriage so even if you say you will keep the secret I think you can tell anyway. The only exception about keeping secrets is if it will ruin a surprise party for her.
     
    #82 Mrs. Valdez, Aug 31, 2009
  3. bobrek

    bobrek Politics belong in the D & D

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    I liked the Freudian slip idea better....
     
    #83 bobrek, Aug 31, 2009
  4. ghettocheeze

    ghettocheeze Member

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    Call this man...

    [​IMG]
     
    #84 ghettocheeze, Aug 31, 2009
  5. mateo

    mateo Member

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    Ok...told the wifey last night over dinner. Considering that he was only in default the last two months, and considering she's 6.5 months preggo, I sorta spun it as "look, I honestly thought he'd pay me back on time and then once he didn't, well, you're in a delicate condition..."

    Anyway, she's pissed.

    At him.

    However, it turns out that its worse than I could have ever known. When I came clear, she said, "oh god, you're the mysterious college friend" - Turns out she and her sister had a call a few weeks ago. Her sister told her this story:

    Back in March, payroll got jammed and they were 10K in the hole. My FIL went to a "college friend" and borrowed 10K to cover payroll. (Yeah, I'm the college friend) Then, 4 weeks later, FIL borrowed 10K from brother in law #1 at 5% for 2 months to pay back this debt, saying he had to pay back the friend immediately. BIL #1 wrote a credit card check out to him for this...one of those no interest for 60 days things.

    So BIL #1 borrowed from his credit card to pay me back.

    Then more bills stack up. Apparently FIL got jammed on some contact he has with the developers....he received a certain amount of money when they break ground on the development, and receives the remainder of the money when the houses are all complete. Between groundbreaking and completing my FIL is responsible for maintaining the properties. Well, this developer figured out what to do....stop the building just short of completion. As long as the houses stay 90% done, my FIL cannot collect. Meanwhile he's maintaining a series of incomplete subdivisions around Texas.

    BIL#1 hits day 50 and starts to worry about the loan he made. So what does FIL do? Borrows 20K from me. He tells both BILs that the money is coming in, writes them some checks for backpay, maybe a little bonus money (seriously), and 11K goes to BIL#1.

    All goes well for awhile bc its Houston which was somewhat more insulated by the housing correction than the rest of the US.

    Continuing to think that the economic crisis is something generated by the liberal media to get Obama in office, he continues to do business in the same shoddy way (ie not lining up a line of credit with a bank), and so when he finally hits the wall on money - in Nov 08 - he cant get a reasonable loan from a bank anymore. So, he goes to both BILs and says, hey, I need 20K more for 60 days, I am totally getting paid by then, so if you get any more credit card offers like before I will pay you guys an extra 10% like I did last time with BIL#1.

    They each lend him 10K using some sort of credit card check deal.

    So now he owes me 20K, and both BILs 10K.

    Freaking disaster.
     
    #85 mateo, Aug 31, 2009
  6. rubytuesday

    rubytuesday Member

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    holy moly!!!!!!!!!!!! def an interesting twist to the story. good bye to your $20K. sounds like Arrested Development.

    good luck!! and i agree with everyone else, should always tell the spouse, esp if it has to do with the in-laws. but again, everything should be discussed.
     
    #86 rubytuesday, Aug 31, 2009
  7. JusBleezy

    JusBleezy Member

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    <object width="560" height="340"><param name="movie" value="http://www.youtube.com/v/AL3jCSlMvzg&hl=en&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/AL3jCSlMvzg&hl=en&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="560" height="340"></embed></object>

    First thing that popped into my head. Good luck though. Tough situation.
     
    #87 JusBleezy, Aug 31, 2009
  8. ima_drummer2k

    ima_drummer2k Member

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    That sucks, mateo.

    Did this guy used to work for Enron or something? This sounds just like their business model.
     
    #88 ima_drummer2k, Aug 31, 2009
  9. Yao Rambis

    Yao Rambis Member

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    This story tells me 2 things: (1) FIL is desparate, and (2) He feels an obligation to pay you and the BILs back.

    But, it sounds like he has no money and cannot do so.

    The bad news is that you're not going to get any money for a while. The good news is that he might pay you back some day and probably feels bad about what he's done.

    Taking legal action is pointless. You can't get blood from a stone.

    I would out a deal with him. If he knows how to build, then maybe he can do a bunch of work like fix up an old house for y'all or build a garage apartment or whatever...
     
    #89 Yao Rambis, Aug 31, 2009
  10. krnxsnoopy

    krnxsnoopy Member

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    yeah sounds like a ponzi scheme. is your father in law by any chance bernie madoff?
     
    #90 krnxsnoopy, Aug 31, 2009
  11. across110thstreet

    across110thstreet Member

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    mateo just summed up the American economy with a nice little microcosm of borrowing and lending...
     
    #91 across110thstreet, Aug 31, 2009
  12. DieHard Rocket

    DieHard Rocket Member

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    Exactly what I was thinking. If you don't have the money, don't spend it!

    Obviously with business ventures you have to take on some debt, but there are much better ways to go about it than this.

    I can't believe he did that to his family, though. Especially you, with a baby on the way.
     
    #92 DieHard Rocket, Aug 31, 2009
  13. Roxfan73

    Roxfan73 Rookie

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    Yep, that is just about perfect.

    I wonder if I can buy a CDS from mateo?
     
    #93 Roxfan73, Aug 31, 2009
  14. Lady_Di

    Lady_Di Member

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    whoa, 20k is a lot!!

    i would be upset if my husband gave my dad some money without telling me...a 20k is a lot to me.

    here's to hoping that everything works out for you.
     
    #94 Lady_Di, Aug 31, 2009
  15. updawg

    updawg Member

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    at least mateo had the money.

    the others wrote credit card checks to get the money and also may soon be out of jobs. I feel worse for those guys
     
    #95 updawg, Aug 31, 2009
  16. ima_drummer2k

    ima_drummer2k Member

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    No kidding, man. Those things are the devil. God help anyone who uses them. The interest rates on most of them are enough to make even the most hardened loan shark blush...
     
    #96 ima_drummer2k, Aug 31, 2009
  17. DaDakota

    DaDakota Balance wins
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    FIL needs to get an attorney and put a LEIN on the properties to force builders to pay up.

    I would get with both BIL's and work something out together to stop the merry go round.

    DD
     
    #97 DaDakota, Aug 31, 2009
  18. updawg

    updawg Member

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    Lien :)

    I don't know if I would go that far yet. That will definitely create problems in the family.

    It probably is worth talking to everyone to get the ful story. I'm sure there is more. It will also stop pouring money into a money pit. You're BIL's sound f'd

    FD Khan had some good points.
     
    #98 updawg, Aug 31, 2009
  19. ima_drummer2k

    ima_drummer2k Member

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    Who knows if that story is even true or not. The guy has lied about everything else.
     
    #99 ima_drummer2k, Aug 31, 2009
  20. DaDakota

    DaDakota Balance wins
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    Which is why you get together with the other parties BEFORE talking to FIL.

    DD
     
    #100 DaDakota, Aug 31, 2009
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