Loaned out money to a couple

[jcrewlee]

What is the name of your state (only U.S. law)? ARKANSAS

Well I loan out $240 to a friend, in returned his girlfriend gave me the title to her car that she owns as collateral. They promise to give the amount I loan the very next day. Next day comes.. no money, and so they said the next day. The next day comes, NO MONEY! So now i have a car title in my hand which the girlfriend never signed and the guy isn't willing to co-operate. I offered them to sign a contract to where as when I will be getting some sort of payment and they refuse! There was no contract only verbal agreement. Now the girlfriend is saying there was no deal between me and her, just me and the boyfriend. To top that off, they are getting evicted and is moving to a different location to where i don't know about. What do i do, and what are my chances of getting justice? *** ALSO forgot to mention i have more than enough evidence to back up my story. But i don't know if txt messages is a reliable source of evidence, because its them admitting about this transaction and when they will pay me but never did. And I have my brother as a witness. Am i really screwed?

 

[startedone]

An unsigned title is worthless, they can get a duplicate.

Kiss that $240 goodbye really.

 

[jcrewlee]

An unsigned title is worthless, they can get a duplicate.

Kiss that $240 goodbye really.

well thats what i thought too, but its only been 4 days and to get a duplicate takes 3 weeks. Even if i have the original, and they have a duplicate wouldn't that mean that they lied to get a duplicate if the state finds out? Well really im not hurting without $240 but I really don't want to get ripped off either. Im aiming to get court orders to let me put a lien onto the title.

 

[sandyclaus]

What is the name of your state (only U.S. law)? ARKANSAS

Well I loan out $240 to a friend, in returned his girlfriend gave me the title to her car that she owns as collateral. They promise to give the amount I loan the very next day. Next day comes.. no money, and so they said the next day. The next day comes, NO MONEY! So now i have a car title in my hand which the girlfriend never signed and the guy isn't willing to co-operate. I offered them to sign a contract to where as when I will be getting some sort of payment and they refuse! There was no contract only verbal agreement. Now the girlfriend is saying there was no deal between me and her, just me and the boyfriend. To top that off, they are getting evicted and is moving to a different location to where i don't know about. What do i do, and what are my chances of getting justice? *** ALSO forgot to mention i have more than enough evidence to back up my story. But i don't know if txt messages is a reliable source of evidence, because its them admitting about this transaction and when they will pay me but never did. And I have my brother as a witness. Am i really screwed?

Unfortunately for you, justice went out the window when you handed over a cash payment without first getting any kind of signed written agreement between you and this couple. The title, unsigned, is worthless - they can just go to the DMV and say they lost it and get a duplicate, and you can do nothing with it because the owner never signed it.

You *MIGHT* have a case based upon the text messages, but those can all too easily be faked (or "spoofed"), and not all judges will consider those as valid irrefutable evidence.

Sure, you can take them to court over this, but I would do it NOW, before they get evicted, so that you can have them served at their CURRENT address (both to establish jurisdiction, and to make sure they are served before they skip town).

Just keep in mind that if you do sue and they do not show up for court, you have a potential default judgment against them (if the judge agrees you have a case). BUT, and this is a BIG BUT, you still have to collect that judgment yourself. It will show up on their credit report as a judgment, but with an eviction there already, chances are it will be one of many and they really don't care about it.

 

[sandyclaus]

well thats what i thought too, but its only been 4 days and to get a duplicate takes 3 weeks. Even if i have the original, and they have a duplicate wouldn't that mean that they lied to get a duplicate if the state finds out? Well really im not hurting without $240 but I really don't want to get ripped off either. Im aiming to get court orders to let me put a lien onto the title.

Whether or not they lied to get a duplicate may never come to light. I mean, how would the DMV even KNOW they lied?

And if you do get a judgment against them, you could certainly file a lien against that vehicle as long as it fits within the debt collection guidelines for your state.

 

[jcrewlee]

Whether or not they lied to get a duplicate may never come to light. I mean, how would the DMV even KNOW they lied?

And if you do get a judgment against them, you could certainly file a lien against that vehicle as long as it fits within the debt collection guidelines for your state.

Thanks Santaclaus really great advice. I know its a long shot, really i don't won't to take their car but i thought they would repay asap because it was a title. And me being a fool myself, should of had them sign the back. Atleast the part where the lien was. But little did i know.