pooroodle07
Junior Member
What is the name of your state? Louisiana
I am in a mess and need some advice. In April 2000 I let a friend take over payments of a 4-wheeler. I contacted bank and told that my friend was to come in to put in his name. My friend said he put the 4-wheeler in his name and said he paid the loan off. I trusted this man. A year ago I went to bank to open a checking account and found out that the loan for the 4-wheeler was in default. The friend never made not one payment, he simply changed my address to his and I never received anything from the bank because I had moved. I confronted him, I wanted a check so I could pay off the loan balance. He gave me a signed check which I deposited into my personal account. I had to use the money for something else that came up in my now hectic life, as I am a struggling college student. I wanted to pay off the loan but could not at the time. The bank has seized the 4-wheeler from this friend and now he is very angry, as I can see he would be. I told him I can only pay him back in installments. He has threatened to have me arrested for illegally selling him mortgaged property. I am scared, can he do this? Please help, any advice is greatly appreciated.
I am in a mess and need some advice. In April 2000 I let a friend take over payments of a 4-wheeler. I contacted bank and told that my friend was to come in to put in his name. My friend said he put the 4-wheeler in his name and said he paid the loan off. I trusted this man. A year ago I went to bank to open a checking account and found out that the loan for the 4-wheeler was in default. The friend never made not one payment, he simply changed my address to his and I never received anything from the bank because I had moved. I confronted him, I wanted a check so I could pay off the loan balance. He gave me a signed check which I deposited into my personal account. I had to use the money for something else that came up in my now hectic life, as I am a struggling college student. I wanted to pay off the loan but could not at the time. The bank has seized the 4-wheeler from this friend and now he is very angry, as I can see he would be. I told him I can only pay him back in installments. He has threatened to have me arrested for illegally selling him mortgaged property. I am scared, can he do this? Please help, any advice is greatly appreciated.