We purchased this bike together and both our names are on the title. I have a debt collector garnishing my assets. Will they be able to take the motorcycle that he loves in the state of Missouri.
2007-10-20 13:25:35 · 12 answers · asked by Pete M 1 in Cars & Transportation ➔ Motorcycles
The bike is paid fo and we have been fixing it up.
2007-10-20 13:49:54 · update #1
The bike is paid for and we have been fixing it up.
2007-10-20 13:50:52 · update #2
Yes, as you are co-owners of the bike
2007-10-20 13:28:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes, He will have to give up the bike or pay for 1/2 the value.
2007-10-20 20:29:29 · answer #2 · answered by skeeter195848 4 · 1⤊ 0⤋
If the payments are being made, the bike is safe. Stop the payments, and the bike will be repossessed in a heartbeat.
2007-10-20 20:38:25 · answer #3 · answered by Ralfcoder 7 · 0⤊ 0⤋
If you had paid your debts as promised, you wouldn't have to worry about it.
Bottom line, yes they can. They can take your half and give him the cash equivalent back of his half, or allow him to pay out your half on your unpaid debt and keep it.
Or they can put a lien on it to where he wouldn't be able to do anything with it without satisfying that lien.
2007-10-20 20:32:15 · answer #4 · answered by oklatom 7 · 4⤊ 0⤋
Transfer the title to someone else's name
2007-10-22 01:28:40 · answer #5 · answered by shel_bug66 4 · 0⤊ 0⤋
With his name being on the title as well, they shouldn't be able to take it. Best thing to do is if he is of age, get it fully in his name.
If he's a minor, they may be able to take it.
2007-10-20 20:29:06 · answer #6 · answered by Anonymous · 2⤊ 0⤋
There may be a possibility if you are on the title.
2007-10-20 20:29:31 · answer #7 · answered by Lelar 6 · 0⤊ 0⤋
Ask this question in the Business & Finance - Credit section.
Credit and dept collection experts are in that section.
2007-10-20 23:40:31 · answer #8 · answered by guardrailjim 7 · 1⤊ 0⤋
It's paid for, transfer it to his name, if he is of age. If he's not of age, transfer it to some else's(that you can trust) name until he becomes of age.
2007-10-20 21:10:15 · answer #9 · answered by bigjerry61 4 · 0⤊ 0⤋
If it is the IRS they will take everything
2007-10-20 21:09:58 · answer #10 · answered by lakerunner696 3 · 1⤊ 0⤋