if i gave someone my truck to take over the payments and they stop paying me and moved. what can i do? can i report the truck stolen. they signed a contract with me stating that they would make the payments or return the truck
2007-01-09 11:56:34 · 4 answers · asked by drenessa2104 2 in Business & Finance ➔ Credit
I'm not really sure about saying it's been stolen since they have the keys and there is a contract. u need to get urself a lawyer. it will go to court and since there is a contract u should get the truck back, plus money they didn't pay and any damage done to it that possible with the damage. u should heaved ur name removed off the truck and loan changed into that persons name. i hope ur making the payments since there not. make sure u know where they live so the lawyer can send them papers. if not they can find them. make sure u have everything u need like contract loan payments, proof that they paid and if u have any pictures of the truck before it was handed over to them that would help to with damages.
2007-01-09 13:24:53 · answer #1 · answered by wishstar28 4 · 0⤊ 0⤋
Unless the truck was re-registered in their name (which I highly doubt happened since you have a lienholder) you are still the registered owner and you can still report it stolen.
Be aware, what you have done violates the contract you have with your bank. If your bank finds out about this it's an automatic repo. Sure they're gonna want to know who you gave the truck too, but in the end, you're on the hook for BOTH the truck and the balance of the loan.
The bank will enforce their contract with you; you will need to enforce the contract with whomever you gave the truck to.
2007-01-09 13:52:06 · answer #2 · answered by bundysmom 6 · 0⤊ 0⤋
striking. Your take care of the lender, has no longer some thing to do with the twist of destiny - you nonetheless could end paying off the vehicle. you are able to cancel the vehicle coverage, once you're planning on turning contained in the tags and by no ability getting yet another automobile. The coverage company will be paying the "extremely money value" of the vehicle, to the lender, so as that can help you decrease the payoff volume. With success, the vehicle is worth more effective than the payoff, so as that your own loan will receives a fee off, and also you may have somewhat money to positioned down on the subsequent automobile - or more effective useful yet, pay money for the subsequent automobile.
2016-12-28 13:43:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes you can because they stop paying you you are still liable for the payments and still hold legal title to truck
2007-01-09 12:31:25 · answer #4 · answered by oldmanarnie 4 · 0⤊ 0⤋