Okay so my dumbass girlfriend...

[putputpanorama]

decided to play banker with a car loan to a friend. And suprise suprise shes getting burned on the deal. Situation as follows.

Deal was to pay down $300 a month until the asking price was received..$3200, all in a written agreement. (without any advice from me) Of such stated payment was to be recieved on the 15th of every month. Well...

Girl who purchased the such said vehicle from My Girlfriend Financing has been late on payment every month since signing of the document. Now she's offically 1 month late and giving my girl the runaround.

Look I'm not happy about the situation but was wondering about best means of recourse.

She has a Certified letter going out tommrow. (my suggestion) with a letter stating her williness to collect.

Does this sound too pushy or is she doing the right thing? She wants to know. Also she had stated in the Certified Letter that if she does not pay by the 15th, that she will be forced to take legal action.

Or would buying back the car for half of what she has paid be a better idea? Either way the situation has gotten out of hand and I think my girlfriend has realized now never mix money with friends...

[sircharliebrown]

Repo the car.

[putputpanorama]

Repo the car.

Seems like the best course of action, however it's legality that is concerning.

[gdoane]

It seems to me that whomever has the title to the vehicle controls the ball here.

If your girlfriend kept the title to the vehicle as collateral, then it's as simple as going and retrieving her car.

If she signed over title to the car then all she has is a promise for payment and no collateral, and her only recourse is to sue for payment.

There's no pretty path out of this mess. It could be worse.

For example, my brother was in a pretty bad wreck with a car in a similar circumstance, it had just been sold private party sale and the insurance came back on the seller. The lady who sold the car didn't transfer title or registration, and for all legal intents and purposes it was still her vehicle so when the wreck happened, it was her responsibility even though she was fifty miles away when it happened.

I'm talking $50,000+ in damages all because the car was sold wrong. You've got to be careful when you sell a car and how you sell a car because if the buyer doesn't have insurance and the car is in your name in any way, shape or form then you can be on the hook for something you never did.

If it's the case that your girlfriend is holding the title and her buddy is missing car payments, then I'd be really concerned about her buddy missing insurance payments too because if her buddy gets her car in a wreck then $3,200 in the hole ain't nothing compared to what might happen.

[putputpanorama]

It seems to me that whomever has the title to the vehicle controls the ball here.

If your girlfriend kept the title to the vehicle as collateral, then it's as simple as going and retrieving her car.

If she signed over title to the car then all she has is a promise for payment and no collateral, and her only recourse is to sue for payment.

There's no pretty path out of this mess. It could be worse.

For example, my brother was in a pretty bad wreck with a car in a similar circumstance, it had just been sold private party sale and the insurance came back on the seller. The lady who sold the car didn't transfer title or registration, and for all legal intents and purposes it was still her vehicle so when the wreck happened, it was her responsibility even though she was fifty miles away when it happened.

I'm talking $50,000+ in damages all because the car was sold wrong. You've got to be careful when you sell a car and how you sell a car because if the buyer doesn't have insurance and the car is in your name in any way, shape or form then you can be on the hook for something you never did.

If it's the case that your girlfriend is holding the title and her buddy is missing car payments, then I'd be really concerned about her buddy missing insurance payments too because if her buddy gets her car in a wreck then $3,200 in the hole ain't nothing compared to what might happen.

Hello, this is the girlfriend, I was wondering though we had written out a contract and an agreement which we both signed. Now in our state, as someone told me was that in the state of South Dakota even a verbal agreement would hold up in the courts. So if that is true wouldn't an agreement that is written and signed with both our signatures on it be a solid win? I don't want to take her to court because she was a friend, but we're having a baby and I am going back to college so all the extra money we can get would be useful at this point. Like I said I do not want to go to court over something like this but I think because she was a friend and that we did have a written agreement that she would hold to her side of the bargain. Am I out of line here?

[MrShotShot]

You're screwed. Lesson learned.

[EmmanuelGoldstein]

Hello, this is the girlfriend, I was wondering though we had written out a contract and an agreement which we both signed. Now in our state, as someone told me was that in the state of South Dakota even a verbal agreement would hold up in the courts. So if that is true wouldn't an agreement that is written and signed with both our signatures on it be a solid win? I don't want to take her to court because she was a friend, but we're having a baby and I am going back to college so all the extra money we can get would be useful at this point. Like I said I do not want to go to court over something like this but I think because she was a friend and that we did have a written agreement that she would hold to her side of the bargain. Am I out of line here?

Ok, let me get this straight. You are calling your girlfriend a 'dumbass' for doing this, yet you signed the agreement with her. Was the car title in your name too? If not, why would you sign the contract and why would it be any of your business how your girlfriend disposes of her own property? In either case... there seems to be enough dumbassery to go around.

And Gene's point is the bottom line... who owns title to the car?

[angelicmadrigal]

I tell you where you are out of line. 1) calling your gf a dumbass to a bunch of people (If I were her you'd be kicked to the crub so fast you wouldn't know what hit you), 2) delusionally thinking she needs to ask your advice/permission to make a decision, 3) signing on to the whole mess if you "knew" it was a bad idea.

As for getting the payment at $300.00 in late payment, I don't even think that's worth taking to small claims court. Now once she owes you a sizable sum, that's another story.

[angelicmadrigal]

I don't want to take her to court because she was a friend, but we're having a baby and I am going back to college so all the extra money we can get would be useful at this point.

So you just called the mother of your child a "dumbass", wow you're really a class act.

[gdoane]

Hello, this is the girlfriend, I was wondering though we had written out a contract and an agreement which we both signed. Now in our state, as someone told me was that in the state of South Dakota even a verbal agreement would hold up in the courts. So if that is true wouldn't an agreement that is written and signed with both our signatures on it be a solid win? I don't want to take her to court because she was a friend, but we're having a baby and I am going back to college so all the extra money we can get would be useful at this point. Like I said I do not want to go to court over something like this but I think because she was a friend and that we did have a written agreement that she would hold to her side of the bargain. Am I out of line here?

Here's the thing: if the contract says "Pay Up" and it's being ignored, what do you think is going to happen when a court says "Pay Up" too?

It's very predictable that if the contract is ignored then the court order will be ignored too, and the whole effort will be an exercise in futility.

You've got two realistic options here:

If you didn't sign over title to the car and kept it in your name until paid in full, then you can simply go collect the car (repossession).

If you did sign over title to the car, then that's her car whether or not she pays you the debt on the contract. You're out the money so here's what you do: You can write it off of your taxes as a bad debt but you'll have to file a form 1099 against your buddy saying she's the recipient of the income as a bad debt, which transfers a tax liability against her.

Your best option depends on what happened to the title when you "sold" the car. If it's in your name and she didn't pay then it's your car, so go get it. If the title is in her name and she didn't pay then all you've got is a piece of paper saying she owes you money and there's not much you can do other than write off the debt. All a court would do is give you ANOTHER piece of worthless paper saying she owes you money and your buddy likely won't pay on that one either.

[Dreamy]

Hello, this is the girlfriend, I was wondering though we had written out a contract and an agreement which we both signed. Now in our state, as someone told me was that in the state of South Dakota even a verbal agreement would hold up in the courts. So if that is true wouldn't an agreement that is written and signed with both our signatures on it be a solid win? I don't want to take her to court because she was a friend, but we're having a baby and I am going back to college so all the extra money we can get would be useful at this point. Like I said I do not want to go to court over something like this but I think because she was a friend and that we did have a written agreement that she would hold to her side of the bargain. Am I out of line here?

As stated by others, the title holder of the car has the rights. I assume that you and your GF owned the car and kept the title and did not sign it over. Because of course that would be rather foolish if you did.

Loaning money to a person who can't obtain traditional financing is a risk as you have now learned.

Small claims court is likely your next move unless because she is/was a friend you prefer to eat the loss.

[jeepers]

This is the stuff that Judge Judy made a career over.

I think that the major points have been made. Who has the title to this thing? I am also not clear. Was this a personal loan that 'friend' asked for in order to buy the car from a third person? Which would mean that SHE has the title. Or is it your own GF's car that the other friend bought from her and this was their financing deal?

It might come down to finding out about the laws in your state. The last thing that you want to do is something illegal because you're ignorant. And yes, it's entirely possible that you'll end up writing this off as a bad loan.

As to the bigger issues for me: Never call your girlfriend and the soon to be mother of your child, a 'dumbass'. This is salient for several reasons.

Your woman should never be referred to as a perjorative. You don't call names, period. She'd better be someone that burned down your home before you pull that stuff out of your holster, and even then, she better have done it in purpose.

People make mistakes. I get the impression that you're both young (correct me if I'm wrong). People can make really big mistakes and are not 'dumbasses'. Matter of fact, I know a lot of people with very high IQs that have pulled really big ones.

That makes you human. What matters if that you shoot for 'wise' and part of that is learning from the mistakes that you do make. Bonus points if you learn from the mistakes of others. Know that if things like this can go wrong, they often do. Prepare for both the best and worst and say yes only if you can deal with both.

Relationships are fragile things. Don't treat them cavalierly if you want to keep them... Especially those that potentially fit the 'lifetime' category. You want to be a statistic and fail, keep using the perjoratives. Eventually they will catch up to you.

Respect, trust and allowing your partner dignity are the foundation of a good relationship. And don't roll your eyes at th is, we have a high divorce rate for a reason.

You have a kid on the way. Now is the time to start acting like the both the partner and the parent. What you set up now, can set the tone for 'forever'. Rhetorically speaking, what are the results that you want? Shoot for that, not for cheap shots that can bring down the whole thing.

Food for thought. It matters.

[johnrocks]

Best way to end a friendship is to loan them money, good luck, been there,done that.

[sironin]

Let's see,

Written contract, check.
Late on payment, check.
Certified letter notifying about collection, check.

You're all set for small claims. Gather your documentation and file one (it's pretty cheap and you won't need a lawyer. Look up some tutorials online for this). If you win, and they don't pay up, you can get a court order to collect the monies owed. This can be in any form you like and you can also recoup the costs of collection. So hire a couple bruisers and just keep taking valuables and not so valuables from her house to the pawn shop until the vehicle is paid for (or just collect the vehicle).

[OldBuzzard]

Let's see,

Written contract, check.
Late on payment, check.
Certified letter notifying about collection, check.

You're all set for small claims. Gather your documentation and file one (it's pretty cheap and you won't need a lawyer. Look up some tutorials online for this). If you win, and they don't pay up, you can get a court order to collect the monies owed. This can be in any form you like and you can also recoup the costs of collection. So hire a couple bruisers and just keep taking valuables and not so valuables from her house to the pawn shop until the vehicle is paid for (or just collect the vehicle).

This is the best advice I've seen so far.

DUDE...calling your GF a dumbass on a widely read forum like this :eek:

That is just begging for a one way ticket to:
http://www.youtube.com/watch?v=4wTg6YB2PRA

[notluzn]

I know someone that knows someone that knows someone that might have robbed someone. Let me know.

[SFC(R)L]

Recover the vehicle.

Remove any personal property of the renter from the vehicle. Inventory said personal property, take photos, and return property to renter by certified mail.

Ensure title is accurate, and then sell vehicle to recover funds spent on vehicle.

[mysticbeauty_nbeast]

This is the best advice I've seen so far.

DUDE...calling your GF a dumbass on a widely read forum like this :eek:

That is just begging for a one way ticket to:
http://www.youtube.com/watch?v=4wTg6YB2PRA

This commercial is shear brilliance....it cracks me up every time I see it!!! :lol::lol:

~Mysty

[ArmyMAJretired]

You're screwed. Lesson learned.

Dave Ramsey calls it Stupid Tax!

[5thIDSoldier]

decided to play banker with a car loan to a friend. And suprise suprise shes getting burned on the deal. Situation as follows.

Deal was to pay down $300 a month until the asking price was received..$3200, all in a written agreement. (without any advice from me) Of such stated payment was to be recieved on the 15th of every month. Well...

Girl who purchased the such said vehicle from My Girlfriend Financing has been late on payment every month since signing of the document. Now she's offically 1 month late and giving my girl the runaround.

Look I'm not happy about the situation but was wondering about best means of recourse.

She has a Certified letter going out tommrow. (my suggestion) with a letter stating her williness to collect.

Does this sound too pushy or is she doing the right thing? She wants to know. Also she had stated in the Certified Letter that if she does not pay by the 15th, that she will be forced to take legal action.

Or would buying back the car for half of what she has paid be a better idea? Either way the situation has gotten out of hand and I think my girlfriend has realized now never mix money with friends...

Have her get her lawyer involved. That will take care of the friend and the money at the same time.

[Lady Liberty]

This is the best advice I've seen so far.

DUDE...calling your GF a dumbass on a widely read forum like this :eek:

That is just begging for a one way ticket to:
http://www.youtube.com/watch?v=4wTg6YB2PRA


That video is hilarious! Thanks for posting it!!!

[putputpanorama]

This is the best advice I've seen so far.

DUDE...calling your GF a dumbass on a widely read forum like this :eek:

That is just begging for a one way ticket to:
http://www.youtube.com/watch?v=4wTg6YB2PRA

HaHa, thats funny! Good thing we allready got not 1 but 2 vacums!

Anyways she proof read it and she wanted her part to be dumb****, not dumbass. I picked the lesser.

[putputpanorama]

Let's see,

Written contract, check.
Late on payment, check.
Certified letter notifying about collection, check.

You're all set for small claims. Gather your documentation and file one (it's pretty cheap and you won't need a lawyer. Look up some tutorials online for this). If you win, and they don't pay up, you can get a court order to collect the monies owed. This can be in any form you like and you can also recoup the costs of collection. So hire a couple bruisers and just keep taking valuables and not so valuables from her house to the pawn shop until the vehicle is paid for (or just collect the vehicle).


Yep, this is her deal. She wanted advice and I think your pretty well spot on about this.

[captusa]

Hello, this is the girlfriend, I was wondering though we had written out a contract and an agreement which we both signed. Now in our state, as someone told me was that in the state of South Dakota even a verbal agreement would hold up in the courts. So if that is true wouldn't an agreement that is written and signed with both our signatures on it be a solid win? I don't want to take her to court because she was a friend, but we're having a baby and I am going back to college so all the extra money we can get would be useful at this point. Like I said I do not want to go to court over something like this but I think because she was a friend and that we did have a written agreement that she would hold to her side of the bargain. Am I out of line here?

Verbal agreements are inforcable in every state but proving what the actual agreement is the difficulty.
I believe you are entitled to repo the car but you should check on the state law.
If you don't have the title you would probably have to go to court to get the title so just repoing the car may not solve the problem.
You are absolutely right including the danger of doing business with friends.
BTW sironin said it better than I.

[angelicmadrigal]

Anyways she proof read it and she wanted her part to be dumb****, not dumbass. I picked the lesser.

So that makes it appropriate? I think not.

[JudasGoat]

So you just called the mother of your child a "dumbass", wow you're really a class act.

well, this is what you get with a republican culture of corruption...

[wayoverthehill]

If I had a dollar for every time I saw this situation I could retire from the Motor Vehicle department.

I have never understood how people can be so casual about handing over money for a car and not getting the title (or getting a messed up title) or selling a car to another person and not making sure they transfer the title and pay the taxes on the sale.

If the purchaser is making payments to the former owner, that owner can put themselves on the title as lienholder and the title will go to them BUT the registered owner will be the purchaser so if they wreck the car it's on them. Once all the payments have been made, the former owner simply signs off the lien release on the front of the title and gives it to the purchaser. If the payments are not made in a timely manner, the former owner (as lienholder) has a legal right to repo the car.

[jeepers]

HaHa, thats funny! Good thing we allready got not 1 but 2 vacums!

Anyways she proof read it and she wanted her part to be dumb****, not dumbass. I picked the lesser.



What your context is, is what your life turns into.

Eventually this will bite you in the proverbial ass. Do you want to bet your life on it?

Up your context, raise your standards. Eventually this stuff becomes very unfunny. And by the time you realize that, the cards have already been played.

If you think that this isn't serious, wait to see your toddler call his/her mother a 'dumbass'. Or a neighbor. Or their teacher.

Or you.

Then ask yourself, what are the implications of this?

Think that you won't ever do it in front of the kid? Think that you won't ever do it and discover that your girlfriend isn't joking that time? Think that it won't do damage?

What your context is, is what your life becomes.

We're not oracles, we're seasoned vets from the trenches of marriage and family. The divorce rate in this country is 50% for a reason.

Use it or don't. It's your life.

[sironin]

Yep, this is her deal. She wanted advice and I think your pretty well spot on about this.

Thanks, good luck with it. And be sure to hit up the many checklists, tutorials, and free advice on the internet for more specific information. Your local district court may even have a website you can refer to for what specific information they'll need to process the claim.

[Ex_Spy_Guy]

dump her

[JudasGoat]

So you just called the mother of your child a "dumbass", wow you're really a class act.

hmmm...I think I'd take that over "swamp-crotch". I don't think many chicks would like being referred to as swamp crotch.

[angelicmadrigal]

well, this is what you get with a republican culture of corruption...

I"m not really sure that has anything to do with it.

[angelicmadrigal]

hmmm...I think I'd take that over "swamp-crotch". I don't think many chicks would like being referred to as swamp crotch.

Either one in my opinion makes a guy fair game to be slapped.