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Looking for some advice,a friend of ours let my fiancé use his Kay's credit to get an engagement ring six months ago on monthly payments. My fiancé is a month behind  on his payment. Our friend made the late payment and  just asked for the ring back and said if not returned he's gonna call the police and report it stolen immediately. This ring was not stolen,so what will happen? 

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Do you want us to talk to the policeman to whom the report is made so we can give you a good answer?  Seriously, we can only guess.  The most likely alternative is that the police (actually the prosecutor) will say it is a civil matter and not do anything.  However, an interested policeman will probably suggest to you that you dump your deadbeat fiance before he totally screws up your life.

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Hi @Anaconda20

 

Welcome to the community! Congratulations on your engagement! But sorry to hear that there is conflict regarding the paying off of your engagement ring.

 

As RetiredinVA mentioned, it's hard to tell what would happen if he reported the ring stolen to the police. Likely the officer would listen to your fiance's explanation of the financing agreement, and realize this is a civil matter not a criminal matter.

 

What were the terms of the original agreement? Was it decided that if your fiance missed a payment that the ring was be to immediately returned to the friend? From the tone of your post, it suggests that the agreement was made orally, which means that it's possible that the terms of the agreement may be unclear/disputed. It is also worth noting that certain contracts must be in writing to be enforceable, including contracts that take more than one year to complete.

 

Given that your friend is threatening to call the police and report the ring as stolen, then your fiance may want to take strides to come current on his payments, or take a loan from a different source in order to pay the friend back in full and avoid future conflict.

 

Best of luck!

The FindLaw.com Team

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On 11/20/2016 at 0:30 PM, Anaconda20 said:

what will happen?

 

We have no way of predicting the future.  How the police might handle this depends on what the friend reports, and we obviously have no way of knowing what the friend might tell the police.

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The friend could be charged with filing a false police report, and I don't think he wants that on his record.  Friend should be advised to file a small claims court suit and be awarded damages which he could then attempt to collect.  And you should immediately give the ring back since your fiance apparently can't afford it or ran into financial difficulty along the way.

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