| Author |
Hogs & Quiches & Prayers Round-up:  bankrupt??  |
|
|
vintagediva1
True Blue Farmgirl
1251 Posts
Michele
Brighton
Michigan
USA
1251 Posts |
 Posted - Apr 20 2009 : 08:42:43 AM
|
Shortly after my DH passed away I received a buy out offer of sorts from the family business that he and his brother owned. Although I knew at the time that it wasn't a truly fair settlement I had no choice but to accept it. It consists of a monthly check to buy out my and my husband's financial interesdt in the company and though it is sybstantially less than we lived on previously, I was doing okay.
Well, now it appears that my brother in law is considering declaring bankruptcy and I will receive no more money. This is my entire income and at 60 I don't relish the idea of going back to work full time. Currently my checks are 2 months behing with a lot of empty promises about when they will be sent.
Sooo.... please pray that I can figure out my life if I am left with no im=ncome and also that BIL accepts his responsibility to me.
I wouldn't be so angry if I thought he too was struggling, but he has the whole big time lifestyle including a 42 foot racing sailboat and yacht club membership.
Michele
www.2vintagedivas.etsy.com
Love that good ole vintage junk |
|
|
kristin sherrill
True Blue Farmgirl
11303 Posts
kristin
chickamauga
ga
USA
11303 Posts |
Posted - Apr 20 2009 : 1:09:25 PM
|
Michele, I will be praying that things don't get that bad. What a mess. I am so sorry you are having to deal with this right now. Have you talked to him?
I'm sending you good thoughts and hugs.
Kris
Life is what you make it. Always has been. Always will be. |
 |
|
|
gramadinah
True Blue Farmgirl
3557 Posts
Diana
Orofino
ID
USA
3557 Posts |
Posted - Apr 20 2009 : 1:41:35 PM
|
Get a lawyer and file against his bankruptsy. It will take a bit but he will have to pay you a certain amount and it will go to a Trustee and then to you so you will have some money for a while.
Diana
Farmgirl Sister #273 |
|
|
|
catscharm74
True Blue Farmgirl
4687 Posts
Heather
Texas
USA
4687 Posts |
Posted - Apr 20 2009 : 1:45:13 PM
|
Michele, I hope and pray everything works out for you. If I could, I would take you in and we would forge through life together. I know how it is to be completely broke and scared. You will be ok. (((HUGS)))
Heather
Yee-Haw, I am a cowgirl!!!
|
|
|
|
mikesgirl
True Blue Farmgirl
3659 Posts
Sherri
Elma
WA
USA
3659 Posts |
Posted - Apr 20 2009 : 2:00:33 PM
|
Have faith that everything will turn out ok and be sure to get a lawyer to protect yourself! We're here for you!
Farmgirl Sister #98
|
|
|
|
NudeFoodFarm
True Blue Farmgirl
433 Posts
Heide
Benton City
WA
433 Posts |
Posted - Apr 20 2009 : 2:51:48 PM
|
I second the motion for a lawyer. You will probably have to pay to retain one but it will be a good investment. It sounds like your brother in law is taking advantage of you. . .he can afford a racing boat but your two months behind! Ha! You deserve to be paid, stick to your guns and get the best lawyer in your town, quick!
Meanwhile I'll be praying for you.
Best,
h
Nude Food Farm
~Grown so good,
Dressing is Optional. |
|
|
|
Marybeth
True Blue Farmgirl
6418 Posts
Mary Beth
Stanwood
Wa 98292
USA
6418 Posts |
|
|
Lainey
True Blue Farmgirl
2401 Posts
Elaine
Waco
Kentucky
USA
2401 Posts |
Posted - Apr 20 2009 : 5:46:26 PM
|
Yes, I agree getting a lawyer. Please protect yourself. You will be in my prayers and I hope things will be better for you.
Farmgirl Sister #25
http://countrygirldreams.blogspot.com/
An Angel says, 'Never borrow from the future. If you worry about what may happen tomorrow and it doesn't happen, you have worried in vain. Even if it does happen, you have to worry twice.' |
|
|
|
vintagediva1
True Blue Farmgirl
1251 Posts
Michele
Brighton
Michigan
USA
1251 Posts |
Posted - Apr 21 2009 : 12:49:50 PM
|
Here's an update. BIL says to give him 60 days and then maybe he can start to pay me again. But no guarantees.
I spoke with a lawyer this morning who advised me of some options I can take. His reatiner is $4000. ( did I mention I'm not being paid, hello)
He thinks I should give him 60 days and then if nothing, start legal proceedings. I think I will do that. If my dear Mother in law was no longer here I would sue his fanny right now, but I don't want her in middle nor would I hurt her for anything in the world.
So, thanks for all the advice and keep praying that we can weather through this.
Thanks and bunches of hugs,
Michele
www.2vintagedivas.etsy.com
Love that good ole vintage junk |
|
|
|
therusticcottage
True Blue Farmgirl
4439 Posts
Kay
Vancouver
WA
USA
4439 Posts |
Posted - Apr 21 2009 : 9:41:15 PM
|
Michele - I will be praying for your situation. I hope that it resolves itself. If BIL comes through in 60 days with some money is there any way that you can force him to buy you out in a lump sum now?? I would certainly keep the lawyer on the back burner.
Handmade Soap & Lotion Bars http://www.therusticcottagebath.com
The Rustic Cottage Blog http://therusticcottage.blogspot.com
|
|
|
|
Mother Hen
True Blue Farmgirl
604 Posts
Cindy
Peck
ID
USA
604 Posts |
Posted - Apr 24 2009 : 12:44:55 AM
|
Michelle, can you place a lien on his home or boat or whatever assets he may have 'free and clear' of mortgages? It's a shame that he took advantage of you at a time in your life like that.
Maybe you should consider suing the pants off him no matter what your MIL thinks, after all look what "her son" is doing to you!
I hate to be a bearer of bad news, but the economy isn't going to get any better in the next 60 days. And if he's the type of person who would do this to you in the first place, whose to say he isn't scheming more now so his assets aren't in his name any more by the end of 60 days??
You have to protect yourself and your future.
Cindy
FARMGIRLS CAN DO ANYTHING!!!
I will bless the Lord at all times: his praise shall continually be in my mouth. Psalms 34:1 |
|
|
|
vintagediva1
True Blue Farmgirl
1251 Posts
Michele
Brighton
Michigan
USA
1251 Posts |
Posted - Apr 25 2009 : 12:09:09 PM
|
Cindy,
He has already signed over his boat to his son and his corvette to his other son. He's a real sneaky ***
I know; the economy just continues to worsen here.
I have put it in God's hands and am just taking things day by day.
My MIL hasn't asked me not to do this but at 93 I don't want to cause her any more grief. She still cna't talk about my DH without breaking down.
Just keep the prayers coming farmgirl friends.
Michele
www.2vintagedivas.etsy.com
Love that good ole vintage junk |
|
|
|
Betty J.
True Blue Farmgirl
1403 Posts
Betty
Pasco
WA
USA
1403 Posts |
Posted - Apr 26 2009 : 08:48:20 AM
|
Michelle,
Isn't signing his boat and car over to someone else while in bankruptcy called "conveyance" in legal terms?
Betty in Pasco |
|
|
|
SuzieQ
True Blue Farmgirl
175 Posts
Suzie
Texas
USA
175 Posts |
Posted - Apr 26 2009 : 9:11:39 PM
|
| sue him now not later you are giving him time to hide everything. |
|
|
|
jinia
True Blue Farmgirl
152 Posts
jinia
mo
USA
152 Posts |
Posted - Apr 27 2009 : 10:43:18 AM
|
| The more time he has the more assets he will hide. I would have a lawyer now. Make sure you keep copies of all communications with him. Good luck. |
|
|
|
SuzieQ
True Blue Farmgirl
175 Posts
Suzie
Texas
USA
175 Posts |
Posted - Apr 30 2009 : 3:10:50 PM
|
Michele
How are you? Hope your okay let us farmgirls know how you are doing. We have very powerful prayers and lots of email support. |
|
|
|
vintagediva1
True Blue Farmgirl
1251 Posts
Michele
Brighton
Michigan
USA
1251 Posts |
Posted - May 02 2009 : 12:13:16 PM
|
I am still in a holding pattern. No money coming in yet. He has been able to sign these things over to his kids as He has not actually claimed bankruptcy for the business yet. I have contacted the lawyer and he says to hold on and if I need to. a bankruptcy lawyer is a whole new ball game. Hopefully it won't come to that or I fear I will never get anything in a long line of creditors. I'm still paryaing and have given it to the Lord and realize that my worrying and sleepless nights won't change a thing.
Thanks for all your prayers and advice.
Michele
www.2vintagedivas.etsy.com
Love that good ole vintage junk |
|
|
| |
Hogs & Quiches & Prayers Round-up: bankrupt?? |
|
bankrupt??
