My question involves business law in the state of: SC & NY
A law student in South Carolina owes me $30K for bitcoins (virtual currency) sold to him and I'm in NY and a month and a half later he has only paid $5K of that.
I sold him bitcoins online worth $30K and I sent him the coins.
Debt accumulation: $15K were through cancelled Chase ACH QuickPay transfers and the other $15K was supposed to be a overnight wire the next morning (wire was never received).
The QuickPay ACH takes 3 to 5 days to process, but I gave him the coins ahead in trust while the funds were in limbo. The ACH payments (8 of them) all cancelled out by the end of the week.
The wire was supposed to be sent out the next morning as he wanted coins during non banking hours, so I went ahead and extended trust to him and sent him the coins anticipating a wire the next morning, but he never sent the wire.
All he sent for the past 1.5 months were excuses. I am a small business owner and this is a lot of money for me (and most people).
I have online messages between his online account (which is tied to him due to the phone number and email address he used [a law school .edu email address] and he verified his online profile with his ID) acknowledging the amounts of funds to be sent and the bitcoin addresses (similar to an email) I sent the virtual currencies to. This was done through an online bitcoin exchange platform localbitcoins.com
I have a personal check for $15K from his closed bank account which he sent which I never deposited because I asked him to send a cashier's check and he sent a personal check after he claimed he couldn't send a wire because the bank won't let him.
I have text messages between his phone number and my self with him acknowledging the debt multiple times and him throwing a hundred excuses as to why he can't send the funds (such as "Oh the UPS lost the check because my girlfriend shipped it to the wrong state"; "Oh I got a new bank account and I wired to the wrong person" ; "Oh I have a limit on as to how many wire withdrawals I can do per quarter."
I have many screenshots from him showing his bank accounts with various balances which he sent.
I have an email with him acknowledging the debt and him saying he was "sending" the funds either via a wire or through virtual currency but never did.
He has money but just won't pay, his father's brokerage account has $8 million dollars in it ( I know because he sent me a screenshot of it ) and he has plenty of money him self.
HE also sent me a copy of his ID (a passport) when I asked for it after sending him the virutal currency.
Now if I were to sue ( which is my only option now as he stopped paying me after the $5K pay off),
I don't foolishly have a promissory note as I did not know the values of those at the time and you don't exactly think a Charleston Law Student is going to scam you for $25K, especially not after you've done hundreds of thousands of $ of transactions with the guy (all within escrow) and especially not after he flashes his father's brokerage account with $8 mill in it.
Qs:
1) Would the evidence in the above formats (Online messages, texts and emails, cancelled Chase QuickPay ACH payments, cancelled checks) be sufficient to get a judgement? I'm paranoid since he's a law student (might be a graduate) that he has superior knowledge of the law and he's going to find some loophole to not pay it
2) How much evidence is necessary to get the judgement? Gathering all of that will take much time as I have over 500 texts to him and screen shotting on a iPhone is pretty easy but the repetition of it 500 times over is a turn off.
3) Do I sue in South Carolina or is it ok to sue in NY?
4) What type of a lawyer do I get? A debt collection lawyer or a business litigation attorney or something else?
5) How much is a good amount to be spending on the lawyer (on average)? And should I get a lawyer on a flat fee or hourly or contingency basis?
6) Do I get reimbursed for my flight trips to SC if I have to go there for court trips? What about attorney fees and costs?
7) Does he have to pay interest on any of the funds owed?
8) He originally owed $30K for bitcoins sold, but he voluntarily added $5K which he cited was for 'lateness' and 'harboring' and only paid that $5K, is it legal for him to be paying the additional voluntarily which I added on to the total debt?
9) I asked him to repay the debt in either virtual currencies or a wire transfer. Is it legal for me to ask for the repayment in virtual currency amounting to the total debt and the total amount of coins to be calculated in accordance to the market price of bitcoins (currently at 448.2 at preev.com)?
10) Is this going to be worth litigating in terms of my expenses being over $30K? He has assets and if not now certainly in the next 10 years (he's 27 years old)
11) I was thinking about giving avvo.com a 2nd chance (First time around a lawyer ripped me off $15K and I had to go to court to settle that) http://ift.tt/20C3G8s < Is this guy a good bet for a case like this or keep looking?
12) Any other tips or tricks I should know about aside from don't lend anyone funds anymore?
Breaks my heart to know someone this trusted would do something like this. Unbelievable world I live in. I'm extremely depressed over this.
Thanks all for all your support and care and the attention for concern, really helps, especially when I need it the most. Much Love!
A law student in South Carolina owes me $30K for bitcoins (virtual currency) sold to him and I'm in NY and a month and a half later he has only paid $5K of that.
I sold him bitcoins online worth $30K and I sent him the coins.
Debt accumulation: $15K were through cancelled Chase ACH QuickPay transfers and the other $15K was supposed to be a overnight wire the next morning (wire was never received).
The QuickPay ACH takes 3 to 5 days to process, but I gave him the coins ahead in trust while the funds were in limbo. The ACH payments (8 of them) all cancelled out by the end of the week.
The wire was supposed to be sent out the next morning as he wanted coins during non banking hours, so I went ahead and extended trust to him and sent him the coins anticipating a wire the next morning, but he never sent the wire.
All he sent for the past 1.5 months were excuses. I am a small business owner and this is a lot of money for me (and most people).
I have online messages between his online account (which is tied to him due to the phone number and email address he used [a law school .edu email address] and he verified his online profile with his ID) acknowledging the amounts of funds to be sent and the bitcoin addresses (similar to an email) I sent the virtual currencies to. This was done through an online bitcoin exchange platform localbitcoins.com
I have a personal check for $15K from his closed bank account which he sent which I never deposited because I asked him to send a cashier's check and he sent a personal check after he claimed he couldn't send a wire because the bank won't let him.
I have text messages between his phone number and my self with him acknowledging the debt multiple times and him throwing a hundred excuses as to why he can't send the funds (such as "Oh the UPS lost the check because my girlfriend shipped it to the wrong state"; "Oh I got a new bank account and I wired to the wrong person" ; "Oh I have a limit on as to how many wire withdrawals I can do per quarter."
I have many screenshots from him showing his bank accounts with various balances which he sent.
I have an email with him acknowledging the debt and him saying he was "sending" the funds either via a wire or through virtual currency but never did.
He has money but just won't pay, his father's brokerage account has $8 million dollars in it ( I know because he sent me a screenshot of it ) and he has plenty of money him self.
HE also sent me a copy of his ID (a passport) when I asked for it after sending him the virutal currency.
Now if I were to sue ( which is my only option now as he stopped paying me after the $5K pay off),
I don't foolishly have a promissory note as I did not know the values of those at the time and you don't exactly think a Charleston Law Student is going to scam you for $25K, especially not after you've done hundreds of thousands of $ of transactions with the guy (all within escrow) and especially not after he flashes his father's brokerage account with $8 mill in it.
Qs:
1) Would the evidence in the above formats (Online messages, texts and emails, cancelled Chase QuickPay ACH payments, cancelled checks) be sufficient to get a judgement? I'm paranoid since he's a law student (might be a graduate) that he has superior knowledge of the law and he's going to find some loophole to not pay it
2) How much evidence is necessary to get the judgement? Gathering all of that will take much time as I have over 500 texts to him and screen shotting on a iPhone is pretty easy but the repetition of it 500 times over is a turn off.
3) Do I sue in South Carolina or is it ok to sue in NY?
4) What type of a lawyer do I get? A debt collection lawyer or a business litigation attorney or something else?
5) How much is a good amount to be spending on the lawyer (on average)? And should I get a lawyer on a flat fee or hourly or contingency basis?
6) Do I get reimbursed for my flight trips to SC if I have to go there for court trips? What about attorney fees and costs?
7) Does he have to pay interest on any of the funds owed?
8) He originally owed $30K for bitcoins sold, but he voluntarily added $5K which he cited was for 'lateness' and 'harboring' and only paid that $5K, is it legal for him to be paying the additional voluntarily which I added on to the total debt?
9) I asked him to repay the debt in either virtual currencies or a wire transfer. Is it legal for me to ask for the repayment in virtual currency amounting to the total debt and the total amount of coins to be calculated in accordance to the market price of bitcoins (currently at 448.2 at preev.com)?
10) Is this going to be worth litigating in terms of my expenses being over $30K? He has assets and if not now certainly in the next 10 years (he's 27 years old)
11) I was thinking about giving avvo.com a 2nd chance (First time around a lawyer ripped me off $15K and I had to go to court to settle that) http://ift.tt/20C3G8s < Is this guy a good bet for a case like this or keep looking?
12) Any other tips or tricks I should know about aside from don't lend anyone funds anymore?
Breaks my heart to know someone this trusted would do something like this. Unbelievable world I live in. I'm extremely depressed over this.
Thanks all for all your support and care and the attention for concern, really helps, especially when I need it the most. Much Love!
Business Disputes: Law Student in South Carolina Owes Me $35k and I'm in Ny, Do I Sue There or Here
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