CA-I made a personal loan to someone for 2 months and he has not paid me back.

[zolast]

California- I made a personal loan to an individual in a bind. He said he would pay me in full in 2 months, it has now been 4 months and it seems liek he has no intention to pay me. Before I lent him the money, I asked to get something as collateral. He gave me the pink slip to his car & signed a letter stating that if he did not pay me with in 2 months that I can keep his car. The problem is he did not sign the pink slip and he has posession of the car. Can I reposess his car without the pink slip being signed?

 

[moburkes]

California- I made a personal loan to an individual in a bind. He said he would pay me in full in 2 months, it has now been 4 months and it seems liek he has no intention to pay me. Before I lent him the money, I asked to get something as collateral. He gave me the pink slip to his car & signed a letter stating that if he did not pay me with in 2 months that I can keep his car. The problem is he did not sign the pink slip and he has posession of the car. Can I reposess his car without the pink slip being signed?

Nope. But, you can sue him in small claims court.

 

[BoredAtty]

Can I reposess his car without the pink slip being signed?

The pink slip has nothing to do with whether you can repo the car.

9202. Except as otherwise provided with respect to consignments or
sales of accounts, chattel paper, payment intangibles, or promissory
notes, the provisions of this article with regard to rights and
obligations apply whether title to collateral is in the secured party
or the debtor.

He...signed a letter stating that if he did not pay me with in 2 months that I can keep his car.

Whether you can repo the car will depend on what this letter states.

9203. (b) Except as otherwise provided in subdivisions (c) to (i),
inclusive, a security interest is enforceable against the debtor and
third parties with respect to the collateral only if each of the
following conditions is satisfied:
(1) Value has been given.
(2) The debtor has rights in the collateral or the power to
transfer rights in the collateral to a secured party.
(3) One of the following conditions is met:
(A) The debtor has authenticated a security agreement that
provides a description of the collateral and, if the security
interest covers timber to be cut, a description of the land
concerned.

Does the letter meet the requirements above? If so, then...

9609. (a) After default, a secured party may do both of the
following:
(1) Take possession of the collateral.
(2) Without removal, render equipment unusable and dispose of
collateral on a debtor's premises under Section 9610.

 

[SHORTY LONG]

Nope. But, you can sue him in small claims court.

How about filing a Mechanic's lien; will that work?

 

[BoredAtty]

Nope. But, you can sue him in small claims court.

With so little info from the OP, why do you think there was no attachment?