By: johnmcmillen

johnmcmillen — Mon, 23 May 2022 23:11:38 +0000

No loans were taken out. I opened it in my name and didn’t do anything after that. He ran it all. From auction buying cars to selling them. The lot is not his it’s leased by my ex. I’m sure the contracts signed for leasing were in his name not mine. He was the one at the auctions buying and selling the cars under my business name

By: angiepotoma

angiepotoma — Mon, 23 May 2022 22:48:38 +0000

Not an attorney. If you signed the papers, then you were the owner of the business. If you took out a loan under your name for someone else that could be considered fraud. So look into what options you have for taking ownership of the business.
1) Is there a car lot / office / assets? Get that full list.
2) did your EX hand it over to you ? I already was, was it not?
3) While the loan is in your name, whose name is the car lot in? i.e. with the owner of the property. Is that also in your name?
Go in and take pictures of everything. Who is running it now. you need to change the locks and take control of all paperwork etc. Also check to make sure the insurances were paid.
How long was it operational? who did the accounting for the taxes? you may owe a bunch of taxes as well. you need to shut this lot down, but also hire one person to handle all sales, do the ads on Craigslist / FB marketplace and have that one person go in and make the sale on the days the clients are buying to minimize costs.
Whomever you hire has to have passed the DMV auto sales exam, and hold a dealers license, which is easy.
You may need to sell off all the property at auction to pay as much as you can on this debt, then be on the hook for the rest of it.
So you will then need to send your ex a letter demanding he turn over all property of the company to you, that includes any cars, any records. You will then be needing to sue him as a business partner.
OR,
This car lot could actually pay off the loan, so if you could arrange a payment plan, and start selling the cars he purchased, you could end up doing ok in this economy.
I strongly insist you start getting ALL the records, find out who is employed there, and cut down the staff. Find how much Ex was paying himself for YOUR car lot, and demand he pay back what is over a fair rate for his extortion from your car dealership.
OR… you simply tell the judge you took out a loan for a 3rd party in your name which could be considered a crime and face criminal charges.
I’d stick with taking ownership of the car lot.

By: sheilarossow

sheilarossow — Mon, 23 May 2022 21:53:45 +0000

Thnx from where u staying(Province & area)

By: melinapier

melinapier — Mon, 23 May 2022 21:02:23 +0000

NAL: That’s a tricky one but since you had it in your name you are legally responsible for the taxes…

By: theodorecarbajal

theodorecarbajal — Mon, 23 May 2022 20:27:16 +0000

What does judgement against him mean I have a credit app that says that but idk what it means

Comments on: Received a letter from the attorney general that they will sue me

By: johnmcmillen

By: angiepotoma

By: sheilarossow

By: melinapier

By: theodorecarbajal