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Alexia Esq.
Alexia Esq., Managing Attorney
Category: Legal
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Experience:  19 Years of Legal Practice Experience in this precise field.
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My ex partner wanted to start up a business and after I retired

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My ex partner wanted to start up a business and after I retired he talked me into investing into his company. Because of a former alcohol and drug problem he relapsed and the company never got started. I used credit cards, took out loans and even took out a loan for a truck to be used for the company.
Because of his problems he has qualified to collect SSI and will not have the money to repay me as soon as we agreed. He came over yesterday and wrote out a plan for repayment. We agreed on a total figure of $10,000.00 (which is much less than what he actually owes me) and he came up with a figure of paying me $60.00 per month. If this is the case then it will take over 13 years to repay me what he owes me. He is willing to hand over the keys to the truck (the original agreement was for me to get the truck in my name and once company was established he would take over payments. I've been making payments for 14 months) if I give him my older car. I agreed that he could buy it but I wouldn't hand it over. When I mentioned calling an attorney to have a legal agreement drawn up he became irate. Once we come up with an agreement would it hold up in court if we had it notarized (if I need to take him to court) instead of going to an attorney?
Submitted: 2 years ago.
Category: Legal
Expert:  Alexia Esq. replied 2 years ago.
*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.

Hi, I'm so sorry for what has happened here, and that you got stuck with the financial loss. With regard to your question:

Once we come up with an agreement would it hold up in court if we had it notarized (if I need to take him to court) instead of going to an attorney? Yes, IF you have a properly drafted contract, that contains all of the necessary elements of a contract, it is enforceable in court. You are not required to have it drafted up by an attorney, although that obviously helps to ensure you include all of the necessary elements, i.e. "offer, acceptance, consideration, mutuality" etc. In your case, you promise him that you will not sue him, as it your right under his debt, in return for his promise to pay you $60/mo, etc. You both MUST be giving up something of value - you are giving up a legal right to sue him and get a judgment, he is giving up $60/mo for X months. Do your contract research and make sure you draft it correctly and all details are covered.

Also note this, if this fellow has no assets to speak of, suing him may be of little value to you, because he may be "judgment proof" and you won't be able to garnish his SS, which is exempt from garnishment generally. Thus, if he every figures that out and doesn't care about his moral obligation, just know that he may decide not to pay up at some point. Thus, getting whatever you can UPFRONT may be a worthwhile consideration, in case that well dries up down the road.

I hope this helps clarify for you.

Because I help people like you here, for a living---this is not a hobby for me---I sincerely XXXXX XXXXX abiding by the honor system with regard to Accepting answers, by Clicking your ACCEPT button now. Feel free to follow up after, if you need clarification. An ACCEPT also assures that I can assist you again. A BONUS is a wonderful way to tell the expert her time and effort are appreciated. I wish you the best in your future.


Customer: replied 2 years ago.
I'm now very confused. He brought over the paperwork yesterday showing me where he has been granted the SSI and since they prorated it back to when he first applied, they issued a check for over $4,000.00. When I asked him where my part of the money was (he agreed to pay me a portion when he received his first lump sum) he said they took it because he owed back child support and had a long overdue bill with Fingerhut.

I've tried to do nothing but help this person out and now I feel as if I'm the one who is getting royally screwed. I don't know what to do now.
Expert:  Alexia Esq. replied 2 years ago.
Hi again,

I'm now very confused. He brought over the paperwork yesterday showing me where he has been granted the SSI I think you mean SSD possibly - SSI is welfare and is limited to $698/mo. plus any state supplement. If one has worked and paid taxes sufficiently, they will have SSD, not SSI.

and since they prorated it back to when he first applied, they issued a check for over $4,000.00. That is referred to as "back benefits".

When I asked him where my part of the money was (he agreed to pay me a portion when he received his first lump sum) he said they took it because he owed back child support and had a long overdue bill with Fingerhut. If he had child support arrears yes, that would be paid from the back benefits of his SSD. Fingerhut, however, a commercial creditor, can NOT garnish his SSD - so he is likely fudging that part. But Child support is that rare exception to that exemption of SS from garnishment - for obvious reasons.

I've tried to do nothing but help this person out and now I feel as if I'm the one who is getting royally screwed. I agree, I am so sorry he has done this to you. The risk of lending him money certainly ended up not being a good one to take, but it is done now.

I don't know what to do now. Do the best you can to get what you can. You can garnish his ASSETS just not his SS. But see what you can do about getting his ASSETS now - encourage him to pay it off now, so you two need not fight about it anymore. Perhaps get the truck and offer him a good deal on the car better than he'd get if he went out to buy one. Perhaps tell him that you will have no choice but to sue and then levy the truck if he won't resolve, and if you do that, you will not be then handing over the car at all - but if he wants it for a deal, you are willing to arrange this with him. Time to get creative or else get used to the fact that you will not recoupe your losses and will have to move on.

I know it is tough. In the past, I loaned money to less than trustworthy friends and colleagues and 9 out of 10 times, I lost out. We live and we learn. I'd likely consider it a loss while pursuing it nonetheless, and hope for the best while planning for the worst.

Good luck.

I hope this helps clarify for you.

Because I help people like you here, for a living---this is not a hobby for me---I sincerely XXXXX XXXXX abiding by the honor system with regard to Accepting answers, by Clicking your ACCEPT button now. Feel free to follow up after, if you need clarification. An ACCEPT also assures that I can assist you again. A BONUS is a wonderful way to tell the expert her time and effort are appreciated. I wish you the best in your future.


Customer: replied 2 years ago.
He will be getting SSI and not SSD. He actually told me the truth about the amount he will get per month $698 but he lied about the garnishment on Fingerhut. Thank you, XXXXX XXXXX for yourn help.
Customer: replied 2 years ago.
Relist: Other.
In the state of Ohio can an individual receiving SSI work and receive a pay check if their disability is not physical and it's mental? I thought I read on a friend's report that he could earn up tp $2,000.00 per month and lose his SSI.
Expert:  Alexia Esq. replied 2 years ago.
Rob, Relist only serves to delay a response. Rather, try to use "reply" in the future for clarification questions. Also, note that this is an entirely new question from a legal perspective, and so it should really be in a new posted transaction, after completing the first one I believe I answered for you. However, I think you may be relativey new here, so in an effort get your on your way, as a courtesy I will be happy to answer this question for you here so you need not create a new transaction.

In the state of Ohio can an individual receiving SSI work and receive a pay check if their disability is not physical and it's mental? Anyone can work, but an SSI recipient (which is federal, not from Ohio) will suffer an offset to his benefits (unlike an SSD recipient) after the first $65 of income. This is because his benefits are needs based, not earned via his taxes. (It also means that he likely failed to pay taxes on his income over the years, which landed him in the unenviable position of needing welfare because he has not SSD insurance, which we pay for via our SS taxes (FICA). Here is more on what an SSI person can earn, and how it will take away from him benefits. http://www.ssa.gov/ssi/text-work-ussi.htm

I thought I read on a friend's report that he could earn up tp $2,000.00 per month and lose his SSI.
No. Not at all. If you do the math noted on the above, he can earn $65 free and clear, then, if he earns, say, another $900, they will take away $450 of his $698. Once he earned $698+698+65, his entire SSI will be gone, as will his medicaid. Moreover, there is an SGA limit - such that if a person starts earning OVER SGA, he is considered NOT disabled at all, as that is defined by the SSA becuase he is ABLE to work substantially, as he has proven. In 2012, SGA is $1010/mo. See here: http://www.ssa.gov/oact/COLA/sga.html

Good luck. If you need me in the future, feel free to start your post with "To Alexia Esq."

I hope this helps clarify for you.

Because I help people like you here, for a living---this is not a hobby for me---I sincerely XXXXX XXXXX abiding by the honor system with regard to Accepting answers, by Clicking your ACCEPT button now. Feel free to follow up after, if you need clarification. An ACCEPT also assures that I can assist you again. A BONUS is a wonderful way to tell the expert her time and effort are appreciated. I wish you the best in your future.



Alexia Esq., Managing Attorney
Category: Legal
Satisfied Customers: 11716
Experience: 19 Years of Legal Practice Experience in this precise field.
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