Legal Question in Civil Litigation in New York
loaned money
My brother-in-law is a mechanic in NY state. He borrowed 1.700 dollars from hia boss, using his approx. $40,000 in tolls a collateral. He agreed to pay back $2100. When he paid the money The guy refused to give him his tools. What can he do to get his tools back
2 Answers from Attorneys
Re: loaned money
The police and district attorney won't give your brother-in-law the time of day (they have much bigger fish to fry). Unfortunately, there isn't much that can be done without commencing a litigation.
Re: loaned money
Your brother should demand the return of his tools by letter, sent certified mail. In the letter your brother should state that the tools were delivered as collateral for the loan, the loan was fully paid, therefore, he wants his tools returned.
If after 30 days the tools are still not returned, he should make a list of the tools being held, present the list to 2 independent dealers to assess the replacement cost for the tools.
If both quotes for the replacement value of the tools is under $5,000, you should file an action in small claims court for money damages as a result of the boss withholding return of the tools after payment of the loan.
Mike.
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