Several months ago my bi-polar son accessed my eBay account and put down payments on two plots of land. In order to maintain my good reputation, I have been trying to keep up with the payments, but it is very hard on Social Security. I'm old! I'm tired! I'm scared! Anyway, I have invested 4 payments of $125/mo on each of them but one is a six year committment at 9% interest. The other one is also $125/mo but is no interest and is for 20 months. I know I will lose what I have put in, but I think I should cut my losses and bail out now on the big one. I have, of course, changed my access and done whatever I can do to protect myself from further damage, but the way it is now I can't afford to get anything for myself anyway! Is it stupid to lose what is invested in order to prevent any further expense? I'm too embarrassed to ask anyone in my family since they will say - you should not have let him in the house!
2006-09-04 05:48:59 · 18 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
You should be able to get out of this without difficulty..
Start with Ebay..
Then go the the property sellers...
Then just stop paying...
2006-09-04 05:55:45 · answer #1 · answered by Anonymous · 0⤊ 3⤋
That is a legal question, not a moral one. You may be able to legally sell the parcels at a profit so investigate that option also. Do not stop the payments or you may just find yourself in even more trouble but a call to an attorney is your best bet. This could be a scam ($125/mo sounds a bit low) which would mean that you may end up with being awarded damages. A good lawyer would offer a free consultation to be able to say what he or she can or cannot do for you. I doubt you are legally liable for the transactions especially since you are on SSI and your son is "disabled." There's a way out ... you just have to find it. Don't default on the payments unless you are so advised. Consider getting information on qualfied attorneys through AARP or a reputable senior organization in your community. The problem will not go away so get on it ASAP!!!
2006-09-04 13:24:36 · answer #2 · answered by Anonymous · 1⤊ 0⤋
My father in law lives only on his Social Security payments and he said it is tough every month because he still has to pay for a mortgage on his house. He only gets close to $800 a month so we help him out once in while if we can. What I would do if I do not want the land and these payments every month I would sell the land and put the money in an interest baring account like a CD. I would cut my looses before it is too late. If I am retired I would just want to relax and do some traveling. I do not want to think about borrowing any loans or paying any bills If I can help it. Good luck and take care, hopefully you made the right decisions.
2006-09-04 13:03:12 · answer #3 · answered by tinadriz 2 · 1⤊ 0⤋
If you can prove any of this then seek out a good lawyer who will take your case pro-bono, then have your son committed so he doesn't do this to you again.
Bi-polar is no excuse for him if he's on any form of medication for his condition.
How did he ever get access to your eBay account anyway? That would be almost impossible to do without knowing your information to begin with, I know because I also have an account there and no one knows any of my information as to how to get into my account there.
You could try explaining this to the seller but after making payments already the seller may not believe you but you could try anyway.
Good luck and for goodness sake keep the son of yours in another house of his own. Even with bi-polar he's still able to work and support himself and he sure as hell should be made to make all those payments and not you. Sounds like a true criminal to me and for him to continue to get away with this is criminal on your part too.
2006-09-04 13:03:56 · answer #4 · answered by fedupmoma 4 · 1⤊ 1⤋
You should have reported it right away as identify fraud. Then you would be in bettter position. Sounds like by making payments you have ratified the contract that originally was not yours.
I would contact the owner of the land and explain what happened, and ask to be let out of the contract for what has already been paid.
An attorney is your best bet in any case. Good Luck
2006-09-04 12:54:23 · answer #5 · answered by snvffy 7 · 3⤊ 0⤋
u should absolutely keep making payments. are they in your name? keep your reciepts of all payments, if you can try to make some crafts or something that you can make cash at, then you will have a little extra income, to make the payments and still get the small things u want. when it's all said and done, u can sell those pieces of land at a higher rate, and then go on that seniors cruise you've always wanted to go on, or visit the Holy Lands. Ther will definately be enough to get that vacation that you have ALWAYS wanted.
2006-09-04 12:57:25 · answer #6 · answered by Jodeci 2 · 1⤊ 0⤋
9% is too much. Your reputation will be even worse if you stick longer with the payments, because someday you can't pay for it anymore.
Sue your bi-polar son (or just let him pay for the damage) for accessing your eBay account and stop the payments.
Then explain to the people which you paid.
Oh, and of course: put a password on your PC and change your eBay and email password (start with the email password).
2006-09-04 12:51:47 · answer #7 · answered by · 5 · 0⤊ 2⤋
If you stop making payments, you risk being turned in for collections and possible court proceedings. Try selling them instead. Even if you sell the plots for a loss, you will still be getting out of the deal without risking collections and court for nonpayment.
2006-09-04 12:52:16 · answer #8 · answered by Royalhinney 7 · 1⤊ 1⤋
I don't think you're responsible for fraudulent purchases -- and I believe if somebody impersonates you (i.e. uses your online identity) to buy something, they have committed fraud.
Try calling the FTC (Federal Trade Commission) about this and asking what you can do, or the AARP or Better Business Bureau if you don't want to talk to the government. But you shouldn't have to make the payments if you didn't buy it! It's as if you were paying the bill for purchases that someone made who stole your credit card!
2006-09-04 12:54:18 · answer #9 · answered by Anonymous · 3⤊ 1⤋
Sell the land.
Even if you take a small loss, it's better than what you're going to pay in the long run. Then, take him to Judge Judy and she'll make him pay it back.
2006-09-04 12:51:20 · answer #10 · answered by Jamie 5 · 1⤊ 0⤋
Have your bipolar son make the payments. What's the matter with him anyway. He's just taking advantage of you. It is your property. You could just turn and sell it for a profit and kick your son out of your house.
2006-09-04 12:52:31 · answer #11 · answered by ? 6 · 1⤊ 1⤋