What is the name of your state? california
This is a ridiculous situation and I'm embarassed to have to post this but I need answers to tell my boyfriend's idiot of a son. I want him to have the facts so he'll stop being a jerk and do the right thing.
OK, with that being said, here is the situation:
Boyfriend's idiot son, we'll call him Peter or Dick for short, bought a brand new crotch rocket motorcycle last year in May and Dick had one of his friend's be the co-signer for the loan on it. Dick had crappy credit and could not get a loan on his own. Dick claims that the bike is in both his and his friend's names but I don't know if that's true for sure. The reason I have my doubts is because Dick didn't mail his payments for the bike directly to the finance company, he instead gave his friend the money to make the payment himself.
Doesn't matter really because Dick only made two payments to his friend for this bike and then Dick lost his job and stopped making payments ever since. Dick claims that his friend all of a sudden decided to declare bancruptcy and the friend hadn't mailed the two payments he'd given him. Dick is still unemployed and has been driving this bike this whole time.
My boyfriend, his father, put the bike down on his own insurance policy, listing himself as the only driver (which was a total idiot thing to do, in my opinion) back when Dick got the bike and my boyfriend has kept the insurance on it current all this time.
Since it has been almost ten months since Dick got this bike (that he incidently only put the minimum amount of down on when he got it) and of course the finance company wants it back. I'm sure repo guys are looking hard for ol' Dick but they can't find him (so far) because it is very hard to locate our home address since we just moved into our home and we have always had all our bills go to my boyfriend's business address and Dick has always only used that address too.
My boyfriend went to Dick the other day and told him he needed to take the bike back to the dealer and give it back to them before Dick ended up getting arrested for GTA. Dick refused.
Dick, being a Dick, has it in his head that he can report this bike to the insurance company as stolen and that the insurance company will pay off the loan on it and Dick can canabalize the bike and no one will be the wiser. I think Dick is either completely insane or irretrievably stupid to think he can get away with such a scheme.
My questions are these and I sincerely hope that there is someone that can help me so I can get this idiotic situation resolved swiftly:
1. How long after a person doesnt make payments, does the finance company report the vehicle as stolen? Dick only put a small down payment on it when he bought it but has never made a monthly payment on it since.
2. If Dick reports it as being stolen, how likely is he to be taken at his word by the insurance company?
3. What would be the best course of action to get this whole stupid situation resolved without alot of drama?
I love my boyfriend. He is the greatest guy in the world. While I don't agree to him mollycoddling his 29 year old son the way he is right now, I understand that this is his son and he wants to help him get his life straightened out. Despite this, I could just strangle his son for being such a stupid, selfish, lazy jerk but I suppose I might feel differently if he'd traveled through my birth canal. He didn't so I am just so aggravated by him and this whole thing. Ugh!!!!
This is a ridiculous situation and I'm embarassed to have to post this but I need answers to tell my boyfriend's idiot of a son. I want him to have the facts so he'll stop being a jerk and do the right thing.
OK, with that being said, here is the situation:
Boyfriend's idiot son, we'll call him Peter or Dick for short, bought a brand new crotch rocket motorcycle last year in May and Dick had one of his friend's be the co-signer for the loan on it. Dick had crappy credit and could not get a loan on his own. Dick claims that the bike is in both his and his friend's names but I don't know if that's true for sure. The reason I have my doubts is because Dick didn't mail his payments for the bike directly to the finance company, he instead gave his friend the money to make the payment himself.
Doesn't matter really because Dick only made two payments to his friend for this bike and then Dick lost his job and stopped making payments ever since. Dick claims that his friend all of a sudden decided to declare bancruptcy and the friend hadn't mailed the two payments he'd given him. Dick is still unemployed and has been driving this bike this whole time.
My boyfriend, his father, put the bike down on his own insurance policy, listing himself as the only driver (which was a total idiot thing to do, in my opinion) back when Dick got the bike and my boyfriend has kept the insurance on it current all this time.
Since it has been almost ten months since Dick got this bike (that he incidently only put the minimum amount of down on when he got it) and of course the finance company wants it back. I'm sure repo guys are looking hard for ol' Dick but they can't find him (so far) because it is very hard to locate our home address since we just moved into our home and we have always had all our bills go to my boyfriend's business address and Dick has always only used that address too.
My boyfriend went to Dick the other day and told him he needed to take the bike back to the dealer and give it back to them before Dick ended up getting arrested for GTA. Dick refused.
Dick, being a Dick, has it in his head that he can report this bike to the insurance company as stolen and that the insurance company will pay off the loan on it and Dick can canabalize the bike and no one will be the wiser. I think Dick is either completely insane or irretrievably stupid to think he can get away with such a scheme.
My questions are these and I sincerely hope that there is someone that can help me so I can get this idiotic situation resolved swiftly:
1. How long after a person doesnt make payments, does the finance company report the vehicle as stolen? Dick only put a small down payment on it when he bought it but has never made a monthly payment on it since.
2. If Dick reports it as being stolen, how likely is he to be taken at his word by the insurance company?
3. What would be the best course of action to get this whole stupid situation resolved without alot of drama?
I love my boyfriend. He is the greatest guy in the world. While I don't agree to him mollycoddling his 29 year old son the way he is right now, I understand that this is his son and he wants to help him get his life straightened out. Despite this, I could just strangle his son for being such a stupid, selfish, lazy jerk but I suppose I might feel differently if he'd traveled through my birth canal. He didn't so I am just so aggravated by him and this whole thing. Ugh!!!!
Children...the gift that keeps on taking.
