Legal

Ask a lawyer and get answers to your legal questions

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

We have made a personal loan to an individual and they used…

We have made a...

We have made a personal loan to an individual and they used a vehicle as collateral and have defaulted on the terms of the loan. Do we need to do anything to notify them that we are selling the vehicle to repay the debt? All parties are in California.

Lawyer's Assistant: What state is this in? And when did the issue begin?

Loan was made on/ about May 1st, again all parties are in CA

Lawyer's Assistant: Has anything been officially filed? If so, what?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

We were given a signed pink slip along with a few cases of alcohol to secure a $1,500.00 loan with the agreement of weekly payments of $900.00 to repay the agreed total of $2,100.00 Payments have been defaulted.

Show More
Show Less
Ask Your Own Legal Question
Answered in 1 minute by:
10/31/2017
Legal Eagle
Legal Eagle, Lawyer
Category: Legal
Satisfied Customers: 13,470
Experience: Licensed to practice before state and federal court
Verified

Hello! I am a CA licensed attorney, admitted to practice in state and federal court. I have a nearly 100% satisfaction rating (click here for more info) so all that means is that you can count on me to help today. Because I want to provide you with the most accurate answer possible, do you mind if I take a moment to review your question?

Please keep in mind that our conversation does not include an attorney-client relationship and this is for general information purposes only.

Ask Your Own Legal Question
Customer reply replied 8 months ago
looking forward to your response.

My goodness, I apologize for the delay. I had a phone call take up more time than usual. Gneerally,

This appears to be a classic breach of contract because they have failed to abide by the terms of your loan. A breach of contract just simply means that one party was obligated to perform and they have either have not performed or have said that they will not perform. Typically, the aggrieved party is entitled to be returned to the same position they were in before the breach. I also know of something that can help you with this situation. If you click here, you can request an attorney-prepared breach of contract letter for a flat fee (usually around $250). Turnaround time is less than 48 hours. Take a look at the link and fill out the contact form if you’re interested. If you want to repossess the vehicle, you don't need to do anything. Cal Penal Code section 415 allows you to repossess a vehicle upon which you have a lien without prior notice.

Also, although I provided an initial answer, it’s important that you are 100% satisfied. If you feel I have done so, please rate me 5 stars and let me know if you have any follow up questions. As a side note, you can also click here in the future to request me individually.

Ask Your Own Legal Question
Customer reply replied 8 months ago
can we just sell the vehicle? The pink slip is in our name already and we have the vehicle. Do ween need the breech of contract letter? And the original loan amount was for $15,000.00, I apologize for the typo.

1. Yes, you can sell the vehicle if you have title and he has defaulted on the agreement. You can charge him the difference between the sale price and what is owed.

2. You don't need a breach of contract letter, but sometimes it helps to lessen confusion.

3. No problem on the typo:-).

Any other questions?

Ask Your Own Legal Question
Customer reply replied 8 months ago
Thank you so much! we will check out the link now and contact you if we have any further questions.

The pleasure is all mine! Further up on the screen you should see a chance to give me a rating. 5-stars are always appreciated, but it is definitely not required! You can also click here in the future to request me individually. Don’t forget, if you haven’t already, you can always sign up for a membership with Just Answer and start asking more questions on the cheap.

Legal Eagle
Legal Eagle, Lawyer
Category: Legal
Satisfied Customers: 13,470
Experience: Licensed to practice before state and federal court
Verified
Legal Eagle and 87 other Legal Specialists are ready to help you
Ask your own question now
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Legal Eagle Your Own Question
Legal Eagle
Legal Eagle
Legal Eagle, Lawyer
Category: Legal
Satisfied Customers: 13,470
13,470 Satisfied Customers
Experience: Licensed to practice before state and federal court

Legal Eagle is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

< Previous | Next >

Meet the Experts:

Ely

Ely

Counselor at Law

24,657 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

INFOLAWYER

INFOLAWYER

Attorney

22,408 satisfied customers

Licensed attorney helping individuals and businesses

JPEsq

JPEsq

Attorney

2,132 satisfied customers

Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor

Law Educator, Esq.

Law Educator, Esq.

Attorney

44,066 satisfied customers

JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Ellen

Ellen

Lawyer, Consultant

8,238 satisfied customers

25 years of experience helping people like you.

Guillermo Senmartin

Guillermo Senmartin

Lawyer

300 satisfied customers

Principal Attorney at Guillermo J. Senmartin, P.A.

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

17,183 satisfied customers

Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.

< Previous | Next >

Related Legal Questions
3 years ago (8/2014) I purchased a 2013 vehicle from a
3 years ago (8/2014) I purchased a 2013 vehicle from a private party and paid cash. The individual signed over the pink slip and I registered it in my name and was issued a pink slip from CA DMV. … read more
Michael Bradley
Michael Bradley
JD
1,511 satisfied customers
Ca. Can i get cash advance on inheritance as collateral own
can i get cash advance on inheritance as collateral own 1/3 of home … read more
LegalKnowledge
LegalKnowledge
Juris Doctor
30,617 satisfied customers
I sold a car to someone while agreeing to accept payments,
I sold a car to someone while agreeing to accept payments, that person transferred registered ownership with the Ca. DMV while I remained legal owner/lien holder. They made one payment and I now inten… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,428 satisfied customers
I have a signed pink slip of a car for loan collateral . Verbal
I have a signed pink slip of a car for loan collateral . Verbal agreement. Can I get a lien on the car?… read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
Doctoral Degree
44,066 satisfied customers
We want to repossess a vehicle in the possession of our soon
We want to repossess a vehicle in the possession of our soon to be ex-daughter-in-law. The pink slip and registration are in the name of my husband. When our son filed for divorce in June, she chose t… read more
JB Umphrey
JB Umphrey
Attorney & Counselor
Juris Doctor
109 satisfied customers
I have loans through a bank in colorado and they are secured
I have loans through a bank in colorado and they are secured with my collatoral: titles to personal property such as vehichles, trailers and so forth. We moved out of state 7 months ago and our guy we… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,428 satisfied customers
I just typed out my question re contract law and had to retrieve
I just typed out my question re: contract law and had to retrieve a credit card. I signed it Sandra McConnell. Can you find that question?… read more
Daniel Solutions
Daniel Solutions
Doctoral Degree
5,212 satisfied customers
I lent a friend $ 8000 to buy a motor home. He has the pink
I lent a friend $ 8000 to buy a motor home. He has the pink slip on the the motor home. I have a signed note for the money stating the motor home is collateral for the loan. He has not signed the loan… read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
I sold an individual a used motor home . He signed a note showing
I sold an individual a used motor home . He signed a note showing the down payment and the balance. The note states that one year from the date of purchase it will be paid in full. That date has passe… read more
Richard
Richard
Owner
Doctoral Degree
4,519 satisfied customers
My mother is selling a RV and paying off the loan on it. The
My mother is selling a RV and paying off the loan on it. The buying party wants a pink, but cannot get it until it is paid off and the paperwork goes through. We are at a crossroads and wondering if t… read more
Georgetown Lawyer
Georgetown Lawyer
Principal Attorney
Post-Doctoral Degree
11,193 satisfied customers
I invested in an Auto title loan company. I provided the company
I invested in an Auto title loan company. I provided the company capital so they can use the money to lend to the end consumer. I was promised that my investment would be secured by pink slips as coll… read more
Dwayne B.
Dwayne B.
Juris Doctor
28,766 satisfied customers
chase auto claimed that my loan is 58 days past due and that
chase auto claimed that my loan is 58 days past due and that they are set to repossess the car. I missed a payment apparently in jan and didn't realize it. i have paid all but that payment . I was tol… read more
Ray
Ray
Lawyer
Doctoral Degree
33,391 satisfied customers
I just received my total charge off for my bankruptcy. How
I just received my total charge off for my bankruptcy. How do I get the title/pink slip for my vehicle from the bank?… read more
Ellen
Ellen
Lawyer, Consultant
Doctoral Degree
8,238 satisfied customers
An ex-employer/friend loan me money and bought me a laptop.
An ex-employer/friend loan me money and bought me a laptop. I made payments of about 900.00 dollars toward repayment. after about two month he decided that he would no longer take payments. He stated … read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
Hello, I am trying to get my car back from reposession and
Hello, I am trying to get my car back from reposession and I am trying to find out how I can do that in such a short amount of time.… read more
Advocate4You
Advocate4You
Juris Doctorate
2 satisfied customers
What do you file in CA. as an individual lender to make sure
What do you file in CA. as an individual lender to make sure prommisary notes are a matter of public record on the borrower?… read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
MY FINANCE COMPANY TOLD ME THAT THEY HAD TO RECEIVE A ...
MY FINANCE COMPANY TOLD ME THAT THEY HAD TO RECEIVE A PAYMENT THIS MONTH OR THEY WOULD REPOSSES, THAT WAS ON THE 12TH AND WHEN GOT PAID ON THE 20TH I PURCHASED A MONEY ORDER FOR THE PAYMENT AND THEY C… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
if a couple is separated and have a vehicle loan together, ...
if a couple is separated and have a vehicle loan together, can one spouse get a loan that is cross collateraled with this loan for another vehicle without notification of the other spouse? When trying… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x