Help!!! So scared - embezzlement question, personal loan

Total BS. Borrowing money is a civil matter, not criminal However I believe what your "friend" is attempting now is extortion. Look at the definitions. Maybe you should consult an attorney before you pay him a dime.....maybe talk to his attorney, suggesting that the loan be dropped....who knows...might work.

Britannica Concise Encyclopedia: extortion


Unlawful exaction of money or property through intimidation or undue exercise of authority. It may include threats of physical harm, criminal prosecution, or public exposure. Some forms of threat, especially those made in writing, are occasionally singled out for separate statutory treatment as blackmail.

Embezzlement
Fraudulent appropriation, for one's own use, of property lawfully in one's possession; type of larceny. Embezzlement is often associated with bank employees, public officials, or officers of organizations, who may in the course of their lawful activities come into possession of property, such as money, actually owned by others.

Thanks so much. I did look it up and saw that embezzlement charges can be filed on a personal loan that goes unpaid for an extended period of time. So, I guess he *could* technically do that. The part about notifying my employers really scares me, as I would lose my job.

His attorney did call me back. He was very nice. He knew nothing about the email that was sent and was very surprised. He said he was not sure who he was receiving this advice from. I asked him if this could still happen and explained that I'm willing to repay in agreement with his terms, and he said he would talk to the client later today.

I'm just still very frightened.

i wouldn't worry about your cretin ex-friend calling your work.in fact if he does he probably will lie or misrepresent himself.opening him up to charges of impersonating an attorney or other official.

Thanks... the friend actually used to work with me at the place where I currently work - he was actually a supervisor here. Does that make any difference? I copied his email to the attorney asking what I needed to do.

I would still suggest that you mention to your "friends" attorney that you are going to consult with an attorney....

yes that too soaplady.actually did you get this loan while he was there and how many there now know about it.it may be much ado about nothing.

Well if he would go to your work and tell your boss about your situation that would be public disclosure of private facts. Similar to defamation only in this case it is providing information that is not of public concern, Defamation is providing false information to the public.

PMBURK,
DO NOT agree to any kind of repayment plan that would put you into any kind of "tight" position. You are agreeing to give him 1/4 of your paycheck for the next year. With the unstable economic situation that is before us, what happens if you loose hours or your job. You have no savings and this agreement can hurt you badly. Offer to pay less down and less a month.

Is there any documents that says you borrowed the money and when and how it is to be repaid?

I agree with Cellular, I would not agree to any type of payment plan, with anyone, that puts you in a financial "bind." The greater the financial difficulty it puts you under, the chances tend to go up exponentially that you will then default on this agreement.

I might also follow the recommendation of consulting your own attorney regarding this matter, and especially the E-mail. I agree, this strongly smells of extortion. There is no earthly reason why he would need to contact your employer. I feel he would be opening himself up to all sorts of legal problems if he did this.

What state do you live in? Check your state laws regarding any types of protections they might have against original creditors and their harassment of debtors. The fdcpa doesn't apply in this case; however, from what I'm reading this person has placed himself in the role of the original creditor and their might be laws that can protect you from his abuse.

I would also make sure you have any communication with this @$$-hole, or his attorney, in writing; or make sure you follow up any conversation you do do have with them by putting it in writing.