Morally obliged to pay off debt?greenspun.com : LUSENET : Repossession : One Thread
Some years ago I entered in to a business with my uncle, who was already a millionaire. At first we did very well with an import/export business. Then the business started to slide because of the late 80s recession. So my uncle decided he did not want me to be in business with him anymore, and told me that I would have to leave the company. I was going through a divorce at the time and didnt have much fight in me, and the company was in a lot of debt also. My uncle wanted to keep the remaining assets of the business, and carry on the business without me. He also expected me to take over a big overdraft at the bank to keep pressure off of him, even though I had no company or means of servicing it. In the end I left without a fight, and lost everything including my home/car wife kids etc. I was so poor I ended up signing on for a year. Eventually I was made Bankrupt. The problem is now I have managed to sort my life out, and have a small but successfull company. I am not rich but not poor. My uncle who is now a multi millionaire is trying to pressure me morally to pay him money. He states that I should do because I should not have left him on his own to pay. Even though I think he was wrong to treat me so badly, and I do think he is wrong to demand like this. Is he right? should I pay him morally am I wrong?
-- David Stephens (email@example.com), November 30, 2002
Well legally there is nothing he can now do. However, if you want a morale debate it is best to see a cllr. Or visit a CAB. What does your family say!
-- Biggles aka Perfect world (firstname.lastname@example.org), December 01, 2002.