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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3692
Experience:  Solicitors 2 years plus PQE
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If I bought the stock directly from a car trade auction

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If I bought the stock directly from a car trade auction (25k) for my now ex partners car showroom. The purchase was meant to be able to allow me to stop working and not feel guilty about any profits keeping us. Then ex is drip feeding moneys (7K in a year) of differing and reducing amounts stating he does not have it. When I know from reliable sources that he is selling a lot of cars with a good profit, taking holidays, buying private number plates and eating out most nights. How do I stand? Could I go back to the fact that I bought all his stock? minus the 7k?
Submitted: 1 year ago.
Category: Law
Expert:  Alex J. replied 1 year ago.

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. Is the car show room a limited company? Did you pay the money directly to the auction house? Kind regards AJ

Customer: replied 1 year ago.
Hi AJ and thank you for coming back to me. Yes it is a limited company and i paid direct to the auction house via my bank transfered from my account (i can get proof of this) and the cars were signed and delivered to the auction house under my exes name
Customer: replied 1 year ago.
Apologies .. i meant that they were signed and delivered to his car showroom
Expert:  Alex J. replied 1 year ago.

Hi, Thank you. Assuming you have no other interest in the company (i.e shares) - then technically this is just a debt the company owes you. If you minus the £7k already repaid then you could simply sue them for the balance in the county court. Do you have any correspondence with the company showing that you agreed to transfer the cars into its name?

Customer: replied 1 year ago.
Hi, No, There is no correspondence agreeing to transfer them into the company name. I do however, have lots of correspondences acknowledging the debt and saying that I will be paid in full. The 7k has been paid to me in amounts of 3, 2,1, 500 and 500 if I remember rightly all Direct from his business account staying the ref as SMC loan repay. (SMC is Saltburn Motor Company).
Expert:  Alex J. replied 1 year ago.

Hi, Thank you. If the debt has been acknowledge that is really all you need as evidence to take the company to court. Does the company currently have any assets? Kind regards AJ

Customer: replied 1 year ago.
Thanks AJ. The company has a lot of stock which are all recorded on his website. I know that his system requires him to input the cost price ... Any additions ... Costs ... And the. Sale price ... Which then provides an easy way to do his accounting. I understand the profits weekly are between 3-15k on average (this is from last year having first hand knowledge as he was obviously sharing his success with me at this point). Each car had between 500 and 3k profit ... And sales are usually, I would say, on average 5-10 per week... I have left it a year now .... We haven't spoken and we have mutual friends that are telling me that he is saying he has paid me so much .... I can wait for the rest... On his terms. I don't think he expects me to persue this way forward so I am hoping a short sharp shock of a letter from a solicitor may just be the push he needs to just pay the money and give me some closure. Otherwise I expect him to dig his heels in and put up a fightThank you for your help
Regards
Mel
Expert:  Alex J. replied 1 year ago.

Hi, Thank you. You are right the gravitas of a letter from a local solicitor demand payment or threatening legal action is often a helpful nudge to get debtors to pay. If he does not pay then you have to be certain that the company you are suing has money to pay any Judgment otherwise it would be good money after bad. I would be most grateful if you would take a moment to rate my answer. Kind regards AJ

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Customer: replied 1 year ago.
Thanks for your advice AJ