Mentally unstable brother gets vehicle loan in Mother's name. Any advice?
My brother who lives with my 82 year old mom had a part time job mowing grass. He went into a car dealership -- one of those no credit, no problem places. They sold him a 27k vehicle and the bank repossessed a couple months later. My mother thought she was signing that he lived with her, in reality the loan was 100% in her name. We feel the dealership knew exactly what they were doing. My mother HAD good credit and now it has plummeted. (That is when I found out about the truck) If I had known earlier, the truck would have went back the very day she signed. I live in Florida and she lives in Nebraska. I need to know what my next step needs to be. Find a lawyer (Been looking) We do not want our brother to go to prison. He didn't know what he was doing -- he just saw that bright shiny new truck and the dealer was willing to give him the keys.
7 Answers
Popular Questions
Related Questions
- We have had two items missing; cash of $140 and a diamond and gold anniversary ring. What should we do?
- What to do if suspecting elder financial exploitation?
- Someone in the family is stealing from my grandma. Is there anyone I can talk to about this?
- What steps can I take if I believe my parents were taken advantage of by a remodeling company?
You say your brother didn't know what he was doing - do you mean he can't legally form a contract, then? And your mother's 82... well, that doesn't mean she can't read or isn't responsible for what she signs, but I think most people would look askance at a dealership taking such cheerful advantage of her. Is it possible they actually lied to her about the loan contract's contents, or actively misled her in some other way?
Mind you. Why did she not ask how her son was going to pay this money back? And if she can be shown to be incompetent too...
Anyway. You might not get any of her money back but you're surely entitled to stand there with a megaphone and call them rude names!
Doubtful this is the first time deadbeat brother has stolen from mom, right?
I'm kinda hardcore. My brother talked my parents into taking a HUGE chunk of money as an equity line for his "business"--never paid a dime back on it and my folks essentially lost their home over it. I think brother SHOULD have gone to jail for that, but they wouldn't think of it.
Yep, an attorney will cost you something, but hopefully you can get this cleared up. Mom's not still paying for the truck, as it was repossessed. A certain amt will still be owed, but not the whole 27K.
You can deal with this w/o the golden boy going to jail. and really? He's your best option for mom's care? That's scary.
BTW, the dealer is in it for money. I imagine that the "financing" he offered was nigh unto highway robbery. There is no law against that. He's ETHICALLY responsible, but probably not legally.
I'm sorry--hope you can straighten this out.
How did you find out about truck? Its likely other financial commingling. Good your looking for atty cause as long a mom & son are together, the pattern will continue.
What I’d be more concerned about is the future, especially your 82 yr old mom’s future. I’m going to guess that it’s her home in her name that they live in. Mom’s funds (SS$, pension, savings) is what keeps household afloat. Mom gives Sonny $. He has no job, short of the occasional grass cutting. He cannot really hold a job is my guess, so does he have any income?
So is he mom’s legal dependent? Could he be? This is something to discuss with atty as mom may want to set up some kind of trust for his future. You as trustee. If your mom is all about her boy, she may go along with changing things IF it’s for Sonny. Realize that mom does NOT have to do things you or the atty suggests as long as she’s viewed as competent. Selling changes as good for Sonny may be the way to get things done & have her agree and have Sonny not work behind your back to undermine.
Otherwise you’d have to go guardianship route. Ask atty how mom’s state feels about out of state guardians & what costs would be.
Speaking of costs, IF mom had a traumatic incident tomorrow and needed to move into a NH, could she afford it and for maybe 2 -3 years and still cover all her house costs? If not she would need to apply for Medicaid and any $ given or things bought for Sonny will cause a transfer penalty against her eligibility. So could you pay for all for mom & Soony & the House? Really all this needs to be clearly discussed with the atty. I’d suggest you get an atty that is CELA or NAELA as it’s layers of complications. Good luck and let us know what happens as we all learn from each other.
The dealer I feel is as fault too. But, too little, too late on our part. I'll make a couple phone calls in the morning. I doubt it will do any good.