Financial "end of engagement" woes

Lipic

If you need the money and he is saying that you can pick it up why don't you just ebay the items and tell buyers to pick up from his house?

lazer

eyeopener2 wrote: »

Depreciation!

Dear me, he may be a Financial Controller but I hope he isn't running the business in this way!.

Depreciation is an accounting tool, it assume an asset has a useful life to the business, it isn't used for valuation, thats absolute b&*&^%$.

I'm afraid hes trying to bully you and it would seem your well rid.

Actually depreciation is used to calculate value, cost less depreciation gives you the Net Book VALUE of an item.

If i were you i would query his calculations, purely to be juvenile and show that you can calculate the value just as well.

I suspect he has probably used a useful life of about 5 years, when in reality, it could be up to 20 years.
Or alternatively find each of the items selling on e-bay etc and present him with a list of that and the current re-sale value of the furniture etc, as that is what it is worth now.

If he wants to use valuation and fancy accounting techniques, so can you.

According to FRS15 - Tangible fixed assets (other than property) should be valued using market value, where possible. Where market value value is not obtainable, assets should be valued on the basis of depreciated replacement cost. (Paragraph 15)

Therefore give him the market values (ie - ebay) and he should give you the money!
Good Luck!

mmmsnow

If the money is really bothering you, take him to small claims court. You can try a mediator first then the court.

Also, I know you have nowhere to store items but surely you can fit a TV somewhere? Or just give it to a friend or relative. Work out what you bought and take the smallest, most valuable items.

I had the opposite problem with my ex - he was using "paying money back" as an excuse to turn up at my house, my office and in the street :ek: randomly. In the end, my mother got involved (she's a force to be reckoned with) and told him that he could post cheques to me every month and any books/CDs/other junk that he came across that were mine could be kept by him. Strangely enough, after that, he was suddenly able to pay off the full amount in one go, rather than £50 here and there.

You need to weigh up the stress of dealing with him with the benefit you would see from a few hundred pounds.

JustinCredibleGillespie

I hope you can find some kind of resolution. I remember walking away from my marriage with the clothes on my back & my car, thats it. That was July 2008. It is just 'stuff'. I have everything I had the last time, only twice over. Best decision I ever made. Please just walk away. I had no money when I left either, I had to beg & borrow to get by for a few months but I got there. Can you borrow some money from parents or good friends to see you through?

Anyway, I hope you get it sorted.

All the Best

JCG

xx

eyeopener2

lazer wrote: »

Actually depreciation is used to calculate value, cost less depreciation gives you the Net Book VALUE of an item.

If i were you i would query his calculations, purely to be juvenile and show that you can calculate the value just as well.

I suspect he has probably used a useful life of about 5 years, when in reality, it could be up to 20 years.
Or alternatively find each of the items selling on e-bay etc and present him with a list of that and the current re-sale value of the furniture etc, as that is what it is worth now.

If he wants to use valuation and fancy accounting techniques, so can you.

According to FRS15 - Tangible fixed assets (other than property) should be valued using market value, where possible. Where market value value is not obtainable, assets should be valued on the basis of depreciated replacement cost. (Paragraph 15)

Therefore give him the market values (ie - ebay) and he should give you the money!
Good Luck!

You know as well as I do what I meant. Honestly, some people.

And these things aren't Fixed Assets they are chattels.

Good luck OP, I hope you make the decision that is right for you.

E2

KingElvis

Just walk away, I assure you it'll be easier and better in the long run....sounds like he enjoys a battle, like my ex wife LOL

suburbanwifey

I always advise anyone against moving into someone else's home (owned) unless they add you to the deeds and mortgage (if there is one) as you have no rights, no security and end up in this mess if it goes wrong. Seems he's stuffed you good and proper, taken your money to decorate his home with stuff he couldn't afford prior to you moving in (else house wouldn't have been virtually empty) and then he moves on with another woman (surprise!) and you have to move out (which is why you should get yourself on deeds before you move in or contribute!) and he gets to keep your stuff and create his stupid a$$ spreadsheets!

This post has made me angry, that he did this to you. You are truly better off without him but that doesn't rid the problem that he conned you out of your savings and stuff. I'd go the small claims route, shred his credit and if he didn't pay, I'd send in the bailiffs. I feel letting him get away with this is the wrong thing, it sends a message to idiots like this, that they can and there are legal channels you can go down to stuff him back. It wouldn't mend the relationship he trashed but you would feel a whole lot better!

Good Luck whatever you decide x