leed a legal advice

[sleepe3d]

What is the name of your state? california

i helped what i thought was a friend by refinancing his car under my name. He made a verbal agreement to make the payments to me every month. Evere since this started he has been late on ever payment. He currently owes me a months payment and the insurance for the car also. he has also yet to show me valid proof that the car has been registered to my name. I would like to take him to court to reverse the loan or demand that he pay off the loan immediately. Do i have a case and if so how would i go about this?

thank you

 

[stephenk]

you refinance a car but the car is in his name?

You can always threaten to repossess the car if he doesnt pay as promised.

 

[sleepe3d]

legal help

i refinanced the car to my name, the only thing thats not on my name is the registration because he's lying or lagging on it. So the car is under his parents name still. Thats why i want to revers the loan or demand he pay it off

would that work or do you have any adivce. he also tend to avoid me since he has no real job. he tries to find other ways of getting money

 

[smorr]

I don't understand why you'd take a refinance loan out and then only agree to his repayment by a mere verbal agreement.

If no one else who would be considered an "uninterested party" heard the conversation on his promise to pay you, it's your word against his.

Scare him - send him the letter 'stephenk' mentioned stating you'll repossess if he doesn't show proof of registration and make payments to you on time. I'm not sure that will go over in a court though - verbal agreements are tough to prove no matter what state you're in.

 

[sleepe3d]

legal advice

well, the parents also are aware of our agreement. And technically its there car. So i can take them to court to. although if i can't get a way to show proof, will i have a case?

 

[stephenk]

if the parents are the registered owners, have you thought about asking them directly to sign over the registration to you?

Again, why would you refinance a car and be responsible for the loan, for a person who doesnt have a job?

 

[sleepe3d]

legal advice

at the time he had a job, and it was a good job to. He was making good money. He had lost it and lied to me about it saying he still had a job. He lies about alot. I have tried to talk to his parents, and they just say that he's taking care of it or they'l talk to him about it. Either way its to late to worry about why i did this stupid move. I can only tell you to never trust anyone when it comes to loans. I just need someone who can tell me how to reverse the loan or get my name off of it

thanks guys also for your help

 

[stephenk]

to get out of the loan would require your friend or his parents to refinance the loan in their name/s only.

Or you can pay the loan and then sue your friend.

 

[sleepe3d]

legal advice

if it comes down to sueing them. Will i have a case? and if so is it possible to add the costs of the lawyer to the amount i'll sure him for?.. should i sue him.. or his parents also since its still under there name?

thanks

 

[smorr]

This is a tough one! If I'm reading you right, the loan is in your name - the car is in his parent's name. Technically, if the car is registered in their names, it's their car.

Stephenk is correct - your options are to either have them refinance the loan in their names, give the money to you to pay off your loan - or pay the loan yourself and sue them for the money. You can't sue them for possession of the car - if it's registered in their name, it's legally theirs.

It's questionable if you could get your money back if you sue them - since it's a verbal agreement. It doesn't matter if the parents know about the debt or not - it could still be considered hearsay and if that went to court they may try to squash your credibility based on hearsay.

If you have proof of any payments made in writing (receipts), signed by either your friend (ex) or either of his parents, and there is a balance due showing on those receipts, you have a better chance at getting your money back, but nothing's certain.

I've been in the same boat - and I'll tell you - it'll never happen again! I feel for you! My motto now is - Get it in writing!