Can I Repossess?

[BLUEYEGUY]

What is the name of your state? Nebraska

i sold a used car to a guy for $800 ($450 down, $50 a month for 7 months) i made sure when transfering the title, that i a lien was put on it in my name, until it was paid off. He has now missed 3 of the 7 payments agreed on in the signed and witnessed sale agreement, and has made no effort to contact me regarding his deliquency for over a month and a half. I still have the spare set of keys to this car, and know where he parks it. Can i Legally repossess the car and keep it until he pays the remainder of the amount owed on it?

 

[racer72]

Have you made any attempt the contact the debtor?

 

[BLUEYEGUY]

the debtor has no phone, and when i arrive at his apartment and knock on the door, there is no answer, even though the car is there in the parking lot. i believe i know where he is employed, but from what i have heard in the past, you can get in trouble contacting a person at their place of employment regarding delinquent debts.

 

[djohnson]

Since you are not a third party collector the rules are different. I would try to contact him at work to see what his response it. I would however not harass him if he says don't call again. Try sending a letter certified mail RRR. This way you have a paper trail of your collections and efforts to collect before you have to repo. A lot of what you can do and when you can do it will depend on you actual contract. Did you sign something and what does it state? Was it a verbal agreement and what was agreed to?

 

[BLUEYEGUY]

yes, we do have a signed, witnessed agreement stating what the down payment would be, what the monthly payments would be and when they were due, and stating that there is a lein in my name on the title until such time as the car is completely paid for. the final payment was to be paid by the last day of february. that payment and two other payments have not been paid, and i have been unable to contact the individual since the 19th of january.

 

[djohnson]

Again what ways have you tried to contact him. RRR mail should be your next step before you start trying to repo.