susanl Posted January 9, 2004 Share Posted January 9, 2004 Well you all have been great help so far so here goes another question. I have been divorced now for 4 months, husband is an alcoholic sought treatment last october came home in february moved out had a girlfriend etc etc etc. Anyhow I got a good settlement met someone new and the kids are doing great. Noone really likes dad but hey he brought it on himself. Anyhow here is the question --during our 19 yr marriage we paid off his parents for his college education when his parents wanted the money even though they didn't need it we went ahead and borrowed money from my parents for that and over the years borrowed a bunch of money from my parents. Eventually he --ex husband--signed a note saying that we would be paying interest only on the loan until the time we wanted to pay it off or they called the note. Well have been doing this religiously but now they want the balance. Remember this is after the divorce but do to the IRS etc my parents don't want to report this loan so there are stipulations on the payback. Anyhow he says he refuses to pay the loan back--that leaves me stuck with this tremendous balance which I can't afford. Why is he being such a jerk. Now I know you are going to ask why I didn't bring this up at the divorce but it was because of the tax issue with my parents--what do I do. I am at the verge of going back to my lawyer and asking him--I have the letter sent it to my ex etc..HELP!!!!! Link to post Share on other sites
InLoKo Posted January 9, 2004 Share Posted January 9, 2004 Seems like everyone is screwing everyone else. Your ex is screwing your parents. Your parents are screwing the IRS. Your parents need to deal directly with your husband, not you, as he was the benficiary. They can't have it both ways, either. If they want him to be fair to them, they must be fair to IRS. Link to post Share on other sites
brashgal Posted January 10, 2004 Share Posted January 10, 2004 I'm not sure I understand this fully. Do your parents owe this money to someone, hence their demand that the loan be paid in full? Otherwise, I think they are going to have to be flexible and allow you to pay it off on your own time. I don't know how they think they could enforce this with your ex legally without drawing attention to themselves IRS-wise. Maybe your ex will soften in time and agree to help pay this...? My sympathies... Link to post Share on other sites
Tony T Posted January 10, 2004 Share Posted January 10, 2004 Tell your parents to file suit against him for default on the note. I'm assuming there is a signed note. If not, they will never get the money from him. If so and they get a judgement, he will have to pay upon execution of the judgement. There's no reason for the IRS to be involved. Now, if your ex knows about this IRS situation he may play it for all it's worth. Be careful. Link to post Share on other sites
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