Defaulting on Payment plan on horse

[meupatdoes]

[QUOTE=mjdiete;8128607]
The lady who is her “current owner” is the barn owner where I board. [/QUOTE]

Oh, well that’s easy then.

Write her a check for 30 days notice on the board bill, and tell her you have to give the horse back, she can keep your $2,000.00, so sorry, feed the horse a final carrot, bye bye, have a nice life.

Then don’t engage with them further unless she actually subpoenas you to appear in court. 99% chance she won’t, if she does, deal with it then.

I mean, it’s a dck move, but basically the overall dck move is reneging on the payments and landing the horse back in their lap to deal with, and unless they actually take you to court that is what you are going to do, so you may as well cut to the chase and only deal with it unless they actually take you to court.

If you are looking for them to say “it’s ok, we understand,” they won’t. Don’t expect them to make you feel better about it on top of everything else. You are handing them this card, but you are also leaving them your $2,000 and giving the horse back so hopefully everyone can just suck it up and move on.

[Foxtrot_s]

She has been paid $2,000.00 on a $5,250.00 horse (half it’s value at purchase).

Has the horse gained in value through your work on it?

How likely is the BO to go to court for this amount? Hardly. Sabre rattling, but you know some people can be so hard core.

[CHT]

Meup, it doesn’t sound like she was paying board though.

I agree with getting legal advice, but from my point of view: they didn’t ask you to pay board so I would assume that was built into the purchase price. If the BO owns the horse, then their “board” is just feed, so the $2000 should more than pay that…I doubt a yearling is on stall board. They have the horse and the money. Not sure what they expect a court to do. They can’t force you do pay/take something you can’t afford…they can just force you to return the item (which in this case is a horse).

Hopefully boarding there doesn’t start getting uncomfortable for you.

[meupatdoes]

@CHT;8128805

Meup, it doesn’t sound like she was paying board though.

Oh, I see that now, but even so it would be a COURTESY so say here’s an extra month of whatever type of payment. I mean, try to minimize exactly how much you are screwing them, but then be like, “Yep, after this I am in fact screwing you so either sue me or make other arrangements.”

I mean, what advice does OP want? The magic money advice that will make her have the money to do what she said she would and it will be fine? It doesn’t exist. She is going to do what she is going to do, I can empathize with both sides here because sht happens on all sides of life, now the trick is to be as unshtty about it as possible.

Here’s your horse back, I can’t pay you, I am so sorry, but after this last payment the conversation is closed, I wish you all the best.

[red_mares]

[QUOTE=meupatdoes;8128784]
Oh, well that’s easy then.

Write her a check for 30 days notice on the board bill, and tell her you have to give the horse back, she can keep your $2,000.00, so sorry, feed the horse a final carrot, bye bye, have a nice life.

Then don’t engage with them further unless she actually subpoenas you to appear in court. 99% chance she won’t, if she does, deal with it then.

I mean, it’s a dck move, but basically the overall dck move is reneging on the payments and landing the horse back in their lap to deal with, and unless they actually take you to court that is what you are going to do, so you may as well cut to the chase and only deal with it unless they actually take you to court.

If you are looking for them to say “it’s ok, we understand,” they won’t. Don’t expect them to make you feel better about it on top of everything else. You are handing them this card, but you are also leaving them your $2,000 and giving the horse back so hopefully everyone can just suck it up and move on.[/QUOTE]

You hit the nail on the head.

[QUOTE=Foxtrot’s;8128803]She has been paid $2,000.00 on a $5,250.00 horse (half it’s value at purchase).

Has the horse gained in value through your work on it?

How likely is the BO to go to court for this amount? Hardly. Sabre rattling, but you know some people can be so hard core.[/QUOTE]

How much value can a yearling gain in 5 months? They eat & try to kill themselves. Selling a yearling isn’t super easy.

BTW, if you’re going to cut the purchase price in half, then half the payments go to each owner as well. Each owner has been paid $1K on a $5250 bill.

[roamingnome]

[QUOTE=red mares;8128840]
You hit the nail on the head.

How much value can a yearling gain in 5 months? They eat & try to kill themselves. Selling a yearling isn’t super easy.

BTW, if you’re going to cut the purchase price in half, then half the payments go to each owner as well. Each owner has been paid $1K on a $5250 bill.[/QUOTE]

Ya, so “other owner” has only been getting $250/month, not the full $500 I’m guessing.

OP, so were you only paying $500/month? So you would’ve been doing that for 21 months? I’ve heard of 3 month payment plans, but 21 months? If that was the plan, I’m surprised the sellers 1)agreed to this 2)didn’t see the default coming.

In addition to learning to get copies of the contracts in advance, I hope take away the lesson that if it’s going to take a long time to pay something off, you probably shouldn’t be buying it (other than say, a house…)

[trubandloki]

I do not see where the OP does anything but admit that this sucks, and not just for her. Not sure the point of harping on her about that.

All she is looking to find out is what is required of her and such.

[merrygoround]

Guillherme has excellent advice. Of course the 'lady" is going to tel you the JAG won’t help. Do not take her word for it.

[meupatdoes]

[QUOTE=trubandloki;8128924]
I do not see where the OP does anything but admit that this sucks, and not just for her. Not sure the point of harping on her about that.

All she is looking to find out is what is required of her and such.[/QUOTE]

But what is required of her is to pay the contract as stipulated, which she can’t do.

So now the ball is in the owner’s court to, within the framework of the contract, deal with the situation.

The contract PROBABLY says that if OP defaults, the horse goes back to the owners and OP defaults any payments made so far. Maybe somewhere in the contract there is a cancellation penalty or whatever additional money OP would have to pay via the contract. Unlikely, but maybe.

But wouldn’t it be strategically smart on the OP’s part to let THEM say, “Hey now, based on this part of the contract here you owe us an additional $750 cancellation penalty?” I mean, she can’t pay it anyway so in the unlikely event a clause like that even exists let THEM find it and bring it to her attention.

Literally the best thing OP can do for herself is hope the contract says if she defaults they get the horse back and she forfeits payments already made, and other wise KEEP QUIET. Sometimes the best move really is to just STFU and let someone else react before you do anything more.

[IPEsq]

I agree with G. If you have JAG available to you, go talk to them now. Do not wait to be sued. They can give you actual, real live legal advice pertaining to where you live unlike those of us on this forum.

[khall]

I can tell you what I did as horse owner who sold a horse that new owner did not finish paying for. I went picked up my horse and she forfeited her money she had paid already. I did not sue her for any money, she did not have it due to child medical issues. Actually owed board on the mare as well, thankfully she sold her saddle to pay back board and I got horse back. Kept her for the rest of her life and she is buried now here at my farm.

[JanM]

Get a JAG appointment today!

[fordtraktor]

Find your contract and make sure you take it with you. JAG can’t help you much without knowing what it says.

Also, can you sell the filly quickly for what you owe, then just have the buyer pay the original owner and do a direct transfer? If it is the same filly you posted about before it is super nice and easily worth that much. That would be the stars aligning but it would also be a really good price for someone.

[PaintPony]

[QUOTE=Foxtrot’s;8128803]
She has been paid $2,000.00 on a $5,250.00 horse (half it’s value at purchase).

Has the horse gained in value through your work on it?

How likely is the BO to go to court for this amount? Hardly. Sabre rattling, but you know some people can be so hard core.[/QUOTE]

Actually her first post says that the price was $10,500.

I agree that it’s a crappy thing to do and their anger at you is very justified.

I suppose if a seller is willing to take payments they have to know that something like this happening is a possibility. I’d definitely never do it that way. :no:

[findeight]

OP has said she made a mistake and is going to be leaving the service due to a medical problem. One never knows the future, I don’t think its productive to rehash what happened here. Only deal with what to do now.

[PaintPony]

[QUOTE=findeight;8130270]
OP has said she made a mistake and is going to be leaving the service due to a medical problem. One never knows the future, I don’t think its productive to rehash what happened here. Only deal with what to do now.[/QUOTE]

OK - I edited it. I wasn’t trying to be a jerk.

[HungarianHippo]

I am not a lawyer
The only way you can show that lessons have been learned is to change your behavior, which thus far has been a lax approach to your contractual obligations, and to the resolution of this entire matter. Now is the time to get diligent, thorough in your record keeping, and responsible for your own future.

If your request for the contract thus far have been emails/texts/verbal, Sit down right now and type up a brief, formal, written request for the contract. Send that by certified mail. Do not go into any of the details of the conflict in this letter.
[I]
Dear xxx,
A copy of the Purchase and Sale Agreement (or whatever it was titled) for the horse named xxxx was not provided at the time of the transaction. On xxx date I requested that you provide a copy, and as of today it has not been received.

I again request that you provide a copy of the above-referenced contract without further delay. You may mail it to the below address, or if more convenient for you, I am available to pick it up.

Regards,

me[/I]

[talkofthetown]

Just because I’m slightly paranoid and have seen way too many movies…

What are the odds that Current Owner drafts up a different/new contract, outlines some pretty harsh consequences if buyer defaults, and then forges signature on new contract? What leg would OP have to stand on? (This is just always a worry of mine if only one of two parties is holding a contract…)

[fordtraktor]

Forgery is a felony, for one. Hopefully horse seller would know better than that especially since buyer does have JAG access to help her. But for goodness sake, OP, look around some more and see if you can find the contract because you really ought to have it somewhere. maybe in your old emails? And going forward, you really must keep all your contracts for everything in a folder somewhere, they are important!

[merrygoround]

[QUOTE=PaintPony;8130233]
Actually her first post says that the price was $10,500.

I agree that it’s a crappy thing to do and their anger at you is very justified.

I suppose if a seller is willing to take payments they have to know that something like this happening is a possibility. I’d definitely never do it that way. :no:[/QUOTE]

One doesn’t plan ahead at that age to have to leave the service due to a medical problem That medical problem will undoubtedly affect her future earning ability, long or short term.

The owners still have the filly in their possession. It is not as though she has left town with it while owing them money. When you sell things o time that id a risk you take.