Question:
I am the new lien holder on a car becuase i loan out money to the guy. If the guy stop paying me, how would i take the car back? do i call the cops? report to the dmv? i dont know where to start.
please help
Answers:
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Did you register as a lein holder? If you did, simply tell him to pay or take his car. If you're not registered on the car title as a lein holder, the hopefully you have a note showing his debt.If not, maybe he gave you the title to hold till paid, if so, tell him to pay or take his car.
If none of the afore mentioned is the case, then you could have a problem.
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You need to get an asset recovery team on it. This is a civil matter, and does not involve the police. Accept for the taking of the vehicle, which the recovery team will handle. They are not cheap, but they will do it. If you are not actually listed as the lein holder on the title then they will not do it.do you have a written contract? If not you are in big trouble. I hope you have handled this as a clear business transaction, no handshakes and promises. That does not hold up in court most of the time. However, the burden of proof is on him, but you may have trouble getting the car. Small claims courts do not order the return of property in most cases. You are probably better off just filing a small claims suit then using the court order to garnish his wages.
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More info on the situation would help... you can email me if you want.
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