genuinehappyguy
Junior Member
Hi there,
Just a question out of curiosity... I lent my friend 2000$ to buy a vehicle on terms that he would pay me back 400$ each month. I was going to put my name on the ownership and let him put insurance on it, but he had to have his name on the ownership aswell to be the main insurance holder (this is in BC, Canada). Now since he's had this vehicle (which was already quite run down, (as you can image for 2000$), he's made it much worse (spray painting it).
It's been 4 months since i've seen a payment and he's moved even to ontario and wont return any of my emails / calls... Is there any legal action (even if just to scare him) I can take against him? Since I have no deal or any agreement written down, does that leave me out of luck? I can have some witnesses, but mostly friends and that doesn't seem to stable..
So is there anything I can do about this or did I just learn a very valuable lesson about lending out money to friends?
Thanks
Just a question out of curiosity... I lent my friend 2000$ to buy a vehicle on terms that he would pay me back 400$ each month. I was going to put my name on the ownership and let him put insurance on it, but he had to have his name on the ownership aswell to be the main insurance holder (this is in BC, Canada). Now since he's had this vehicle (which was already quite run down, (as you can image for 2000$), he's made it much worse (spray painting it).
It's been 4 months since i've seen a payment and he's moved even to ontario and wont return any of my emails / calls... Is there any legal action (even if just to scare him) I can take against him? Since I have no deal or any agreement written down, does that leave me out of luck? I can have some witnesses, but mostly friends and that doesn't seem to stable..
So is there anything I can do about this or did I just learn a very valuable lesson about lending out money to friends?
Thanks