I bought a car in the state of AR,my banks name isnt on the title and I sold it,now there wanting to repo it but I dont have the car or the money..what am I lookin at legally?
2007-09-18 08:15:21 · 5 answers · asked by fghfgh f 1 in Business & Finance ➔ Personal Finance
How did you provide your buyer with a title if there was a loan on it? Generally the lender would keep the title physically until the loan was paid off.
Legally you could be in real trouble for selling the car and not paying the loan off. They can sue you for what you owe, and you'll be lucky if you avoid criminal prosecution.
2007-09-18 08:20:57 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
Fraud perhaps.
You'd better contact a lawyer or come up with all of the money you owe the bank for the car right away.
2007-09-18 15:32:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋
PAYing through the nose?
do u owe money on the car?
yes get 3 more jobs and pay it off fast.
never ever do this agin.
2007-09-18 15:21:30 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Law suit followed by judgement, Legaly, you are hosed. Also, where did you find someone retarded enough to buy it without a title?
2007-09-18 15:24:39 · answer #4 · answered by AWM 2 · 0⤊ 0⤋
Please consider taking some legal advice. Check websites like http://askexpert.info/legaladvice.htm
2007-09-22 08:36:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋