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Old 05-21-2012, 06:47 AM   #21
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no payments, ever.
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Old 05-21-2012, 07:01 AM   #22
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depending on the municipality most likely cops arent going to get involved, I went thru this with my brother in law and a cargo van was completely in my name ins. and all and hpd and the cops in his jurisdiction stated its a civil matter they couldnt get involved. I tried to just go to his house and take it but was told since its locked up in his garage I would be stealing (go figure) I was told you have to send 2 certified letters stating youre intentions and if a little time passes by (cant remember how much) report it stolen then go from there......It never went past that so i cant inform you what to do but once its reported stolen Im sure cops will do something about it then.
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Old 05-21-2012, 07:17 AM   #23
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Old 05-21-2012, 07:18 AM   #24
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Can't report it stolen. It's just a sale transaction gone bad. You'll be directed to court. I sold a bike to a friend, he got it stolen then decided not to pay me the remaining balance. Talked to a laywer who said never do that cause you can still be found liable is he gets into anything with the bike & at this point see is you can get anything and cut your losses and headaches.
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Old 05-21-2012, 07:19 AM   #25
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If he was friends enough for you to "float the note", then he should be friend enough for you to talk to him before "taking action", remind him of your agreement and ask him to return the bike. If he says no, then you have moral justification for what ever you have to do. If he is not a friend and you have no desire to continue the realtionship, then just go it.
What he is doing is bad, he should make the payments on time per the agreement but at this point we do not not know what his issues and reason/excuse is. Make the effort to do this in the friendly way before you go the cut it off way.
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Old 05-21-2012, 07:25 AM   #26
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Per your contract you can't repossess the bike yet. You stated he had to be late twice and only late once thus far. Nothing under 30 days late affects your credit.

Why not try and get him to send the payments thru you now instead of direct to your lender. This way you'll know exactly when he pays and you can take appropriate action. One action would be for you send in one payment yourself to get on time. Then his slightly late payments won't affect you because he's basically paying for the next month early. Final payment on loan then will go to you instead of lender.

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Old 05-21-2012, 07:31 AM   #27
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Quote:
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Per your contract you can't repossess the bike yet. You stated he had to be late twice and only late once thus far. Nothing under 30 days late affects your credit.

Why not try and get him to send the payments thru you now instead of direct to your lender. This way you'll know exactly when he pays and you can take appropriate action. One action would be for you send in one payment yourself to get on time. Then his slightly late payments won't affect you because he's basically paying for the next month early. Final payment on loan then will go to you instead of lender.

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He said:
Quote:
he has been making late payments therefore affecting my credit. In one instance he was late on the payment over 30 days.
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Old 05-21-2012, 07:33 AM   #28
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call the cops and tell them you are repoing the bike. then go get it, make sure you have title and agreement with you.
This is all u need to do.
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Old 05-21-2012, 07:35 AM   #29
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He has made more than 1 late payment, but just 1 over 30 days?

If payment is due on the 1st and he pays on the 2nd, that's late in my book. Go get your and cut your losses
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Old 05-21-2012, 07:42 AM   #30
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Per your contract you can't repossess the bike yet. You stated he had to be late twice and only late once thus far. Nothing under 30 days late affects your credit.


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go back and re-read, he has been late several times and anything beyond 2 weeks is marked late payment in Texas.
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Old 05-21-2012, 07:43 AM   #31
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I appreciate all the input and advice. I really could do without the reminders on how i shouldn't have done that. Its obvious i regret doing so and are trying to rectify the situation for the better.

Yes, he has been late more than 3 times, and i just stated that on one of those occasions it was even more than 30 days.

I am sending a written notice with delivery receipt today giving him a chance to do this the right way.

Hope it works, if not then i move on to the more cuthroat way.
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Old 05-21-2012, 07:47 AM   #32
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Quote:
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I appreciate all the input and advice. I really could do without the reminders on how i shouldn't have done that. Its obvious i regret doing so and are trying to rectify the situation for the better.
This thread is searchable for the foreseeable future. We just want anyone else searching for info on allowing their friend to take over payments to, if they stumble across this thread, realize that the general concensus is not to.
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Old 05-21-2012, 08:10 AM   #33
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If payment is due on the 1st and he pays on the 2nd, that's late in my book. Go get your and cut your losses
That's true but his contract stated late and affecting his credit. Used to be 30 days before anything reported as late but I guess now it is two weeks.

Hope the douchebag responds to your certified letter and straightens up. If not you'll have to go through the courts I'm afraid. No cop will help you repo the bike once he sees your contract. Cops do not play judge on the street. Court process will cost you plenty of time and money and give you nothing more than a judgement. Then after you are awarded the judgement it will cost you more time and money to retrieve the bike.

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Old 05-21-2012, 08:22 AM   #34
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Court process will cost you plenty of time and money and give you nothing more than a judgement. Then after you are awarded the judgement it will cost you more time and money to retrieve the bike.

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It's $34.00 to file in small claims court in Harris County which the plaintiff can recover if he's awarded a judgment. Won't cost any money to ride the bike home except for gas
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Old 05-21-2012, 08:31 AM   #35
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Quote:
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It's $34.00 to file in small claims court in Harris County which the plaintiff can recover if he's awarded a judgment. Won't cost any money to ride the bike home except for gas
Thanks for this info Bevo, much appreciated.
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Old 05-21-2012, 08:36 AM   #36
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Thanks for this info Bevo, much appreciated.
www.jp.hctx.net/civil/default.htm
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Old 05-21-2012, 09:01 AM   #37
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Maybe U should give him one last stern warning and demand the payments come to u on the 15 because of the history and then if he desent agree do what u have to do
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Old 05-21-2012, 09:06 AM   #38
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Maybe U should give him one last stern warning and demand the payments come to u on the 15 because of the history and then if he desent agree do what u have to do
Have already done so multiple times. Still the same thing every month. Even as of late he has failed to maintain insurance on it. I have been very calm and patient about the whole situation. But its gotten to the point where i need to cut my losses.
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Old 05-21-2012, 09:10 AM   #39
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Have already done so multiple times. Still the same thing every month. Even as of late he has failed to maintain insurance on it. I have been very calm and patient about the whole situation. But its gotten to the point where i need to cut my losses.
If that bike is not insured and he's riding it I'd try to recover it ASAP. I'm not 100% sure, but you might be liable for any damage he causes to another person if he's in an accident.
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Old 05-21-2012, 09:13 AM   #40
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The registered owner WOULD be liable. Its your bike, go get it.
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