Friday, July 4, 2008
Owing money to ex-brother-in-law
It was about more than a year ago that I started doing some side business with my then brother-in-law. He has latino stores in Tennesse and wanted someone here to find and ship products for him. So I offered my services to him. He payed all expenses and I would get $200/month to pay everyone here and send him the bills etc. So I basically do the paperwork as I am someone he trusts.
It was around that time that I started feeling the squeeze from all these debts. With him sending me these sums of money that I would just pass on to his creditors I figured I could ask him for a small loan so I could pay some of my other debt. So I asked him for $3000 that I would pay back with my work so he wouldn't have to pay me for 15 months. He agreed and I got the money and it was soon out of my hands, mostly went to pay debt but it apparently didn't do much of a dent on it since it's a year now and i'm still paying him and I still owe lots more money.
An interesting twist is that he and my sister broke up after she gave birth to their girl. He didn't even recognized the girl as being his. So my work with him got a little uncomfortable as I am in good working relationship with him while he and my sister are about to go to court for child support.
Then his business became a family run thing, so he wasn't now the sole owner and the money that his business was paying me I would have to pay back to him directly. Pretty inconvenient because wiring money back and forth from the US to here and viceversa costs money (at least $10 for every $1000). So out of a verbal agreement with my sister and my mom, he told me to hand over the $200 to my sister and my mom as a way of paying for the uprising of my little niece (She is the cutest chubby girl).
My mom had been with my sister in TN when she gave birth and they both made a hard decision. My mom would bring the girl back to Honduras while my sister tried to make it there so she wouldn't have to worry about raising a newborn baby by herself. So the $200 that I get payed I hand over to my mom here and email my now ex-brother-in-law telling him about each payment and how much money I still owe him.
Right now I owe him $400 and I owe my mom $150 of last month because Iast month I was away on a trip and needed the money to make some online payments while I was away. SO you could say that I owe him $550 total.
This is one of the debts that is easiest to explain how I got into. I hope I can get rid of it in a couple of months or so. But now a question arises:
Should I ask him for another loan ? If I do then I get some quick cash up front and force him to keep supporting my niece since I would hand over the montly payments to my mom. Plus it's a 0% loan :-)
On the other hand, as I said before he and my sister are going to court right now and probably the court will hand the payments if she does get some child support from him. So if that happens I would have to wire money back to him adding to the cost of paying back the loan. However while they do figure all this out my little niece will be with no more money being sent for her support. He originally said on that verbal agreement that he would pay $500/month for the baby's support but all she gets is the $200/month that I'm paying him back giving it to my mom.
Maybe you have some ideas and opinions. I have my mom calling me every end of month asking me for the $200 and i'm getting it and passing it on to her, with the exception of last month. But I know it will soon be over and it will be hard for my mom to raise that baby without that money. I hope the child support case is done before I finish paying back the loan.
I'll update the sidebar now.