My question involves court procedures for the state of: Portland Oregon
I've had good luck with roommates my whole life but this 5 month ordeal had really opened my eyes to what scum bags people can be. Long story short my roommate stopped paying rent when he lost his job, forcing me to pay it to avoid eviction since we are co-tenants and jointly responsible for rent. He lied about things left and right and didnt even let me know when he lost his job, I only knew because I called to find out if he still worked there when the landlord called me saying he didnt pay his rent. Apparently he got fired for dishonesty. He also failed to pay any utilities. I finally got him to agree to a repayment plan with his car as collateral. He made two payments but is now behind by 3 payments and has moved out of the house and blocked me on facebook, changed his number a few months ago, and email is my only way to contact him. Per the terms of the contract, if he is behind by more than 3 payments he must sign his car over to me, I have no clue if this contract will hold up in court. Since the contract was signed he racked up more debt and owes a total of $1445.88. He has a job again and lived rent free for 2 months so there is no reason he would not have been able to make payments.
Below is the contract with names edited:
LOAN AGREEMENT
1. Parties: The undersigned is bob dole, the Borrower, and the Lender is John Smith.
2. Date of Agreement: August 27th 2015
3. Promise to Pay: Borrower promises to pay to Lender $1103.90
4. Breakdown of Loan: Borrower will pay:
e. Amount of Loan:
vi. $550.79 – August rent + money order fee
vii. $553.11 – Past rent and utilities as outlined in splitwise(as of August 24th 2015) Additional utility bills (gas, water/sewer, electric, and internet) between now (August 24th 2015) and when you leave the house are still due in addition to this amount.
viii. TOTAL: $1103.90
5. Repayment: Borrower will pay back the loan in full by November 20th 2015. Payments will be made with cash or money order, or as agreed upon by both borrower and lender at the time of payment. All payments will be applied in the order in which they are/were due.
a. Payment due dates
ii. $100 August 28th 2015
iii. $100 September 4th 2015
iv. $100 September 11th 2015
v. $100 September 18th 2015
vi. $100 September 25th 2015
vii. $100 October 2nd 2015
viii. $100 October 9th 2015
ix. $100 October 16th 2015
x. $63.90 October 23th 2015
xi. $60 October 30th 2015
xii. $60 November 6th 2015
xiii. $60 November 13th 2015
xiv. $60 November 20th 2015
6. Security: To protect Lender, Borrower gives what is known as a security interest or mortgage in:
[Describe:] 2001 Audi all road VIN -------------- will secure this loan and be used as collateral should the borrower fail to make payments as outlined. If borrower is past due on more than three payments at any one time, borrower agrees to immediately relinquish ownership of the listed security interest to the lender. By signing this document the borrow acknowledges that he is the sole owner of the security interest and will not sell, borrow against, add owners, or do anything that will hinder the borrowers ability to relinquish ownership to the lender until the debt has been repaid in full.
7. Default: If for any reason borrower is more than three payments behind, Borrower shall be in default. Lender may not demand ownership of the above listed security interest unless borrower is behind by 3 payments OR the loan has not been repaid in full by November 20th.
Agreed:
________________________________ ______________________________
Borrower Lender
Date________ Date _________
In retrospect I should have had someone look over and edit the contract prior to having him sign in but live and learn. I'd prefer to get paid back in cash but his car should be worth at least the sum of the debt.
I assume the only way to enforce this contract is going to court.
I also have ample evidence that he was aware of what he owes and what he agreed to in the form of Facebook message logs .
At least he is gone and the stress relief alone has been a huge weight off my shoulders, money is minor compared to the living situation I was stuck in.
Thank you for any help you can provide.
I've had good luck with roommates my whole life but this 5 month ordeal had really opened my eyes to what scum bags people can be. Long story short my roommate stopped paying rent when he lost his job, forcing me to pay it to avoid eviction since we are co-tenants and jointly responsible for rent. He lied about things left and right and didnt even let me know when he lost his job, I only knew because I called to find out if he still worked there when the landlord called me saying he didnt pay his rent. Apparently he got fired for dishonesty. He also failed to pay any utilities. I finally got him to agree to a repayment plan with his car as collateral. He made two payments but is now behind by 3 payments and has moved out of the house and blocked me on facebook, changed his number a few months ago, and email is my only way to contact him. Per the terms of the contract, if he is behind by more than 3 payments he must sign his car over to me, I have no clue if this contract will hold up in court. Since the contract was signed he racked up more debt and owes a total of $1445.88. He has a job again and lived rent free for 2 months so there is no reason he would not have been able to make payments.
Below is the contract with names edited:
LOAN AGREEMENT
1. Parties: The undersigned is bob dole, the Borrower, and the Lender is John Smith.
2. Date of Agreement: August 27th 2015
3. Promise to Pay: Borrower promises to pay to Lender $1103.90
4. Breakdown of Loan: Borrower will pay:
e. Amount of Loan:
vi. $550.79 – August rent + money order fee
vii. $553.11 – Past rent and utilities as outlined in splitwise(as of August 24th 2015) Additional utility bills (gas, water/sewer, electric, and internet) between now (August 24th 2015) and when you leave the house are still due in addition to this amount.
viii. TOTAL: $1103.90
5. Repayment: Borrower will pay back the loan in full by November 20th 2015. Payments will be made with cash or money order, or as agreed upon by both borrower and lender at the time of payment. All payments will be applied in the order in which they are/were due.
a. Payment due dates
ii. $100 August 28th 2015
iii. $100 September 4th 2015
iv. $100 September 11th 2015
v. $100 September 18th 2015
vi. $100 September 25th 2015
vii. $100 October 2nd 2015
viii. $100 October 9th 2015
ix. $100 October 16th 2015
x. $63.90 October 23th 2015
xi. $60 October 30th 2015
xii. $60 November 6th 2015
xiii. $60 November 13th 2015
xiv. $60 November 20th 2015
6. Security: To protect Lender, Borrower gives what is known as a security interest or mortgage in:
[Describe:] 2001 Audi all road VIN -------------- will secure this loan and be used as collateral should the borrower fail to make payments as outlined. If borrower is past due on more than three payments at any one time, borrower agrees to immediately relinquish ownership of the listed security interest to the lender. By signing this document the borrow acknowledges that he is the sole owner of the security interest and will not sell, borrow against, add owners, or do anything that will hinder the borrowers ability to relinquish ownership to the lender until the debt has been repaid in full.
7. Default: If for any reason borrower is more than three payments behind, Borrower shall be in default. Lender may not demand ownership of the above listed security interest unless borrower is behind by 3 payments OR the loan has not been repaid in full by November 20th.
Agreed:
________________________________ ______________________________
Borrower Lender
Date________ Date _________
In retrospect I should have had someone look over and edit the contract prior to having him sign in but live and learn. I'd prefer to get paid back in cash but his car should be worth at least the sum of the debt.
I assume the only way to enforce this contract is going to court.
I also have ample evidence that he was aware of what he owes and what he agreed to in the form of Facebook message logs .
At least he is gone and the stress relief alone has been a huge weight off my shoulders, money is minor compared to the living situation I was stuck in.
Thank you for any help you can provide.
Civil Procedure Issues: Will This Loan Contract Hold Up in Court
Aucun commentaire:
Enregistrer un commentaire