Contract Violated----Buyer Past Due

[AtomicMom]

I sold an individual a car last summer. We signed a contract for down payment, amount of payments,and date due for each payment. This was a contract that I typed up and we both signed and dated. The contract states that failure to make payments on time will result in the full amount of the contract being due and payable.

The individual is now $1000.00 (4 months) past due on payment. I still hold title to the car and have a key to the car. I have notified the individual by letter and by phone to either pay up or return the car.

The individual has not responded. Can I legally go and take the car?

I live in North Carolina----the individual lives in South Carolina.

 

[ALawyer]

It really depends on what the contract said -- did it give you the right to repossess the car? Or just to sue?

 

[JETX]

If your contract gives you the right of repossession in case of breach, go get it.

If not, and it only gives you the right of 'accelerating' the payments, then you can only take him to court for the full amount owed.

 

[AtomicMom]

Contract Violated: Thanks to ALawyer and Halket

Thanks for the advice! The contract states that if any payment is 5 or more days late, "the entire remaining balance shall be due and payable. Seller may use any available method to collect this debt."

So, based on your replies, I guess I need to take him to court. I've sent him a registered letter requesting that he return the car. If that fails, I'll try to collect through small claims court, Total amount due is $4500.00.

Thanks again!