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I HAVE LOANED $21,000 TO MY FRIEND IN COLORADO AND RECEIVED

I HAVE LOANED $21,000 TO...
I HAVE LOANED $21,000 TO MY "FRIEND" IN COLORADO AND RECEIVED TITLE OF HIS CAR, 2006 PORSCHE CAYMAN AS COLLATERAL. HE DOES NOT PAY BACK THE LOAN. WHAT IS RHEW NEXT STEP?
ARTHUR ZAWODNY SCOTTSDALE AZ
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Answered in 1 minute by:
2/1/2010
JB Umphrey
JB Umphrey, Attorney
Category: Legal
Satisfied Customers: 20,233
Experience: Explains legal matters based on 14+ years experience.
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Thank you for using JustAnswer!

 

Did he sign the title to the car over to you?

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Customer reply replied 7 years ago
He signed off as seller but buyer's name is vacant
Do you have a written contract with him relative to the loan?
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Customer reply replied 7 years ago
I had but, cannot find. I have letters, and e-mails send to him, but no written reply, just BS from him by phone. I have witness who can confirm the loan
What's his line of BS?
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Customer reply replied 7 years ago

HE TRIED IN VAIN TO SELL THE CAR, ASKING $36,000; HIS HOUSE IS ON THE MARKET. ALL THIS IS TRUE. I ADVERTISED HIS CAR ALSO IN ARIZONA BUT IN VAIN

How can you be certain that he still has the car?

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Customer reply replied 7 years ago
YES, YES ,YES! JOHN, MINE AND ALSO HIS FRIEND, CONFIRMS
Does he owe any money on the car or is it paid in full?

Edited by JB Umphrey on 2/1/2010 at 1:19 AM EST
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Customer reply replied 7 years ago
PAID IN FULL.TITLE WAS RELEASED FROM BANK AFTER HE PAID OFF THE BALANCE

Then, finalize the title, go to your local MVD to see if you're going to see a bill of sale to transfer the title in your name (e.g., http://mvd.azdot.gov/mvd/FormsandPub/viewPDF.asp?lngProductKey=792&lngFormInfoKey=792 )

, and arrange to transport the car back to your place.

 

Good luck and best wishes. I hope that you find this information to be helpful and this answer to be ACCEPTable!

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Customer reply replied 7 years ago

THANK YOU FOR YOUR ANSWER

GOOD JOB!!!

You are most welcome. Safe travels!

JB Umphrey
JB Umphrey, Attorney
Category: Legal
Satisfied Customers: 20,233
Experience: Explains legal matters based on 14+ years experience.
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