I purchased approx. $18k of musical/DJ equipment for my ex-boyfriend’s business (very stupid on my part… I know). We are no longer together as a couple (we never did live together), he has the equipment and he has not paid anything on this purchase. I have made all the payments (min.), and I have all the receipts but have nothing to show for it except this strapping loan. I want the equipment so I can sell it back or sell it out right? The authorities said I need to take him to court or default on the loan (I do not want to jeopardize my good credit). What are my rights?? How should I handle??

QUESTION: I purchased approx. $18k of musical/DJ equipment for my ex-boyfriend’s business (very stupid on my part… I know). We are no longer together as a couple (we never did live together), he has the equipment and he has not paid anything on this purchase. I have made all the payments (min.), and I have all the receipts but have nothing to show for it except this strapping loan. I want the equipment so I can sell it back or sell it out right? The authorities said I need to take him to court or default on the loan (I do not want to jeopardize my good credit). What are my rights?? How should I handle??

Terry Says:  Oh so sorry — but you fell into the “love is blind” trap when it come to money!  If YOU took out the loan (and he didn’t co-sign) or if you put it on YOUR credit card, then YOU are the responsible person.  The authorities were right.  You need to go to small claims court, or “pro se” court (where you represent yourself) if there is one in your area.  It doesn’t cost much to go to court, just a small filing fee.  But do it right away — while the equipment is still worth something!

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