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Roger
Roger, Attorney
Category: Legal
Satisfied Customers: 31590
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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i sold an atv to a friend i still had a loan on the atv. he

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i sold an atv to a friend i still had a loan on the atv. he sold it to someone else now he is trying to say i owe him money because he sold it for less then what he paid me for it. is there anything that he could legally do. Since then i filed bankruptcy and that atv was part of it.

Hi - my name is XXXXX XXXXX I'm a litigation attorney here to assist you.

 

Was the loan on the atv paid off with the money you got from selling it to him?

Customer: replied 6 years ago.
no it was not, an the bankruptcy lawyers know this as well. the bankruptcy was finalized an everything. But the person i sold the atv to still figures i owe him money because he sold it for less then what he paid me for it. he is threating to call the cops not sure what to do?

Ok. If you didn't pay off the lender, it still has a lien against the atv and has a right to recover it, sell it and sue you for the difference owed.

 

While you're not liable to your friend for him selling the atv for less than what he paid you, you would owe him all of his money back if the atv is taken from him or the subsequent buyer.

 

It will be like a domino effect - the current owner will have the atv taken by the creditor, that owner will sue your friend for his money back, and then your friend would have a right to sue you for a return of his money.

 

Because you've filed bankruptcy, your obligation to repay your friend may be wiped clear unless he can prove that you defrauded him (judgments for fraud aren't dischargeable). However, if he knew about the lien or even made payments to the lender, you should be off the hook for a fraud claim.

Customer: replied 6 years ago.
he knew about it because i told him about it right away, an also he tried to get tabs for the atv and couldnt because of the loan. so instead of calling me he just sold it for cash to someone else. when he knew i would have given all his money back. But i feel like now he is just black mailing me just to get more money.

He has no claim against you for selling the atv for less than what he paid you for it, and if you disclosed the debt/loan to him and he bought it anyway, I think you're in the clear.

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