Unpaid load to stepson

[GeddyGirl]

What is the name of your state? UK

I lent £900 to my 21 yr old stepson last year as he needed to buy a used car. His old car was an MOT failure and he bought his ex girlfriend's Renault Clio. We verbally agreed that he would pay me back within a reasonable time limit. He has paid me just over £400 but still owes the rest. He has been paying me monthly what he can afford to give me, payments i have been recording. He's a student with a monthly income, pays his father an agreed amount of rent each month, had a credit card debt of £1,000 ( that we know of, we took one credit card away from him ).

Recently, his car needed repair work done. I agreed that the monthly payment ,for that month only, be missed in order for him to get repairs done and not incur extra financial hardship. However, this is where the bugbear comes in. He still lives at home with myself and his father. He's been going out spending money on regular nights out, basically binge drinking etc When challenged about going out spending money on 'beer, women and song', when i kindly gave him a payment break for the car repair, he has basically walked away. He doesnt seem to understand the moral issue he has thrown up.

He has put me in a very awkward position. I need the money repaid regularly for my own financial responsibilities. Where do i stand morally/legally on this? I do not want to take him to small claims court as he is family but i need to be able to do something to 'scare' him into growing up and realising that a loan is a loan, regardless of who has lent the money.
I would also like to know who is the legal owner of the car. Is it me as the loan hasnt been repaid in full or is it him as he is the registered keeper of the vehicle and pays roadtax, insurance and upkeep of it.

Many thanks

[TiredOfAbuse]

I hate to be the bearer of bad news, but it's posted:

US Law Only - WHEN POSTING A QUESTION, YOU MUST INCLUDE THE NAME OF YOUR STATE

These forums do not appear to deal with law outside of the USA. I am sure if I am wrong, someone will let me know. Thanks!

TiredOfAbuse

[GeddyGirl]

oops i'm a div sorry!

well maybe someone could give me advice on the moral side of it. Not going to go down the legal route anyway.. i couldnt do it, after all, he's family and despite him being a pain in the backside, it would feel so wrong. just wanna 'scare' him a little into taking responsibility.

thanks!

[hughjahs]

Many of the experts on here are debt collectors, and these are not type of people I would go to for advice on morality.

[spallanzani]

Not paying your debts isn't a particularly moral thing to do either..... what are debt collectors supposed to do? Ask politely?

[Ladynred]

Money issues aren't MORAL issues, they are BUISINESS issues, even in the realm of personal finance. Debt collectors try to play the morality card to make you feel guilty and pay up.

My suggestion - write up a monthly BILL/statement, add INTEREST, and give it to him every month. Every month he doesn't pay you, add a late fee and up his interest rate. In other words, do it like any credit card or loan company would - and stick to your guns. If he balks, tell him that it's how the REAL credit world works and that YOU are losing money while he doesn't pay, you could have that money in an interest-bearing account of some kind, or retirement account !

Don't cut him any slack - no creditor would. He thinks he can walk away because he just owes you a certain amount. Is he paying you for food, utilities, etc ? Rent is just the beginning.

As for who owns the car - in the US, it doesn't matter who's name is on the title, the person who's name is on the registration is the owner of the vehicle. Unless you record a lien on the title, as would happen with a lender for a regular car loan, you have no claim on the vehicle. That's US law.. UK law may be somewhat different.

[Chien]

Originally Posted By hughjahs
Many of the experts on here are debt collectors, and these are not type of people I would go to for advice on morality.

Congratulations. I’m not sure whether you just got in under the wire in the voting for “Year’s Most Myopic and Misguided” or “Year’s Most Presumptuous”, but you made it.

You came here for advice about an admittedly valid debt and judgment. You didn’t know much and were willing to listen to experts who did (the majority of whom were/are collectors, offering their advice freely) but, whether you acted on that advice or not, you maintained the moral high ground? Is the judgment paid?

The very first response here properly directed attention to the rules of the forum but, as the self-designated pillar of moral rectitude, you ignore them and continue the thread?

You may be the least qualified active member on this forum to be giving advice on morality.

[hughjahs]

Originally Posted by Chien

Congratulations. I’m not sure whether you just got in under the wire in the voting for “Year’s Most Myopic and Misguided” or “Year’s Most Presumptuous”, but you made it.

You came here for advice about an admittedly valid debt and judgment. You didn’t know much and were willing to listen to experts who did (the majority of whom were/are collectors, offering their advice freely) but, whether you acted on that advice or not, you maintained the moral high ground? Is the judgment paid?

The very first response here properly directed attention to the rules of the forum but, as the self-designated pillar of moral rectitude, you ignore them and continue the thread?

You may be the least qualified active member on this forum to be giving advice on morality.

I never admitted the debt and judgment were valid, in fact I questioned their validity. I was able to accept the judgment portion, since a judge was the one who gave it. To me a judgment's legitimacy is quite different than a CA tacking on other fees. And my question you are referring to was whether I should legally be concerned with the CA, because quite frankly I couldn't be bothered by such things.

I seem to have touched off a nerve though, I didn't mean to offend anyone and I take it back. The honest advice on these forums is interesting and appreciated.