My brother has a debt of 91K, he never signed any agreement they sent goods now they want 18% on that debt, I don't think they can ask for interest without an agreement before hand.
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So someone sent your brother 91K of goods with no signed agreement? Doubtful.....All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event....... -
Not in one transaction, it was over a course of two years the account just got further and further behind.Comment
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Surely there are some signed invoices? Most everyone has terms on their invoices that would be binding.All information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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I'll ask himComment
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No nothing was signed for, they just dropped off the goods.
Had a scribble but no language pertaining to terms etc.Comment
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Could you tell us what the goods are for 91K. ( I'll bite on this)Comment
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It was merchandise that he sells in his store, in other words it was trade supply from a distributor.Comment
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I see.Comment
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If the supplier just "dropped off" 91k worth of goods that haven't been paid for, then why worry about paying 18% either. Obviously, the supplier just doesn't care about getting paid at all....Originally posted by jimbo367 View PostAll information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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Obviously, there has to be more to this story. Either the OP's brother did in fact have an open-ended account with this supplier, or the supplier places merchandise in his store on a "contingency" basis (meaning they get paid when the merchandise sells). In either case, you can't seriously believe that a supplier with no ongoing business relationship simply dropped off a load of merchandise and never demanded that an invoice or payment arrangement be signed.Originally posted by frogger View PostComment
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That's called "theft by conversion" if the merchandise does not get paid for.Originally posted by bcohen View PostAll information contained in this post is for informational and amusement purposes only.
Bankruptcy is a process, not an event.......Comment
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And it is not a consumer debt, and thus, beyond the focus of this forum.
The F.D.C.P.A. does not apply to this sort of transaction.The world's simplest C & D Letter:
"I demand that you cease and desist from any communication with me."
Notice that I never actually mention or acknowledge the debt in my letter.Comment
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