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Friend stopped paying for car that's in my name

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jnthompson27

Junior Member
What is the name of your state (only U.S. law)? Louisiana

My friend and I had a verbal contract stating that she would pay the car note in full every month if I financed a car for her in my name. She missed three payments so I gave the car back to the financing company as a voluntary reposession. The car is considered "upside-down" so I know that I will end up owing the financing company a lot of money. I have text messages of us talking about the car and her not keeping up with the payments. The messages also state that I will sue her for the money owed and that I will take the car from her. The loan was for $30,00+. How can I legally make her pay me back so I can pay the financing company?
 


Zigner

Senior Member, Non-Attorney
What is the name of your state (only U.S. law)? Louisiana

My friend and I had a verbal contract stating that she would pay the car note in full every month if I financed a car for her in my name. She missed three payments so I gave the car back to the financing company as a voluntary reposession. The car is considered "upside-down" so I know that I will end up owing the financing company a lot of money. I have text messages of us talking about the car and her not keeping up with the payments. The messages also state that I will sue her for the money owed and that I will take the car from her. The loan was for $30,00+. How can I legally make her pay me back so I can pay the financing company?
You really made a bad choice in this matter. The max you can ask for in small claims is $5,000.00. Anything over that goes to "real court" which means that you're going to need to pay an attorney, for which you aren't going to be compensated. Furthermore, even if you win, there's no guarantee that you'll ever see a penny. And, to add insult to injury, such a matter can take a long time to resolve.

On the positive side, you shouldn't have to pay the entire loan back. You're only going to be on the hook for what is left over after they auction off the car.
 

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