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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 88377
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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I took out a personal loan for a friend which paid for a motorcycle

Resolved Question:

I took out a personal loan for a friend which paid for a motorcycle which is titled and registered in my name. This also paid off a smaller loan that I cosigned with him on which was on a pickup. We are no longer friends and he is drinking and driving the motorcycle which the insurance is in my name so anything would come back against me if he wrecks the bike. Can I have the law pick up the motorcycle since it is in my name and sell it. He is making the payments on the personal loan out of an account that he added my name to. Also what is my recourse on getting the money on the payoff on the smaller loan that was included in this loan. I have asked him to get the loan out of my name as he thinks the loan is actually on the bike or bring the bike back to me but this has not happended so far. Thank you
Submitted: 9 months ago.
Category: Legal
Expert:  Law Educator, Esq. replied 9 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

If this bike is in your name and registered and titled in your name, you certainly can go get the bike and take it because it is your bike. You are allowed to send someone to get the bike, like a professional repossession company or you can go get it as long as you can do so without causing a disturbance of the peace.

The law will not pick it up, they consider this a civil matter. You can get a repossession or towing company to do it and you need to give them copies of your ID and the title and registration showing it is in your name and they can then pick it up and bring it to you and you can lock it up so he cannot get it.




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Customer: replied 9 months ago.


Do I have any recourse on the amount that was given to pay off the loan I had cosigned on that this loan included with the bike?

Expert:  Law Educator, Esq. replied 9 months ago.
Thank you for your response.

You could sue in court to recover the money paid off on the loan once you get the bike back.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 88377
Experience: JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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