Submariner
New Member
Here's my question. I financed for a brand new motorcycle in 2005 for my brother. He didn't have the funds so I thought i'd be a nice brother and purchase one for him. Since 2005, he's made payments on the motorcycle. Recently, I got a call from a debt collector and he informed me that payments haven't been made on the motorcycle for 8 months. the account went into a charge-off status on my credit report. The following letter is what I had to type to a security investigator working on my clearance for a job i'm potentially being hired for:
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In 2005, I applied for a loan from Capital One/Kawasaki and purchased XXXXXXX (brother), a 2005 Kawasaki ZX6R 636 Ninja. Since 2005, I was under the assumption that he was paying this account.
On 28 January 2015, I received a phone call from Asset Recovery Solutions LLC. They informed me that Capital One/Kawasaki had sold them the account due to non-payment. I informed them that I would pay the account in full as soon as I figured out why it went delinquent.
I spoke to XXXXXXX (brother), and he informed me that his wallet had been stolen several months ago and he had to cancel all of his credit and bank cards. One of the cards in his wallet was used to make automatic monthly payments on the Capital One/Kawasaki account. Due to an oversight, he did not make arrangements to continue to make automatic payments on the Capitol One/Kawasaki account via a newly issued credit or bank card.
On 30 January 2015, I called Asset Recovery Solutions LLC and paid the debt in full in the amount of $2,744.00. Asset Recovery Solutions informed me that they are unable to provide me a receipt until 30 days after payment. That is their policy. Enclosure (1) is provided as proof of payment.
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Per my brother, the motorcycle is at his friends house in Virginia Beach. I currently reside in Washington State. I paid off the rest of the balance and the title will be mailed to me in 90 days. My brother no longer deserves the bike and I told him that the motorcycle is mine now.
I have made several phone calls to his friend to make arrangements to have the bike shipped. I talked to him once, requesting him to give me a call once he gets the ok from my brother. I have not heard from the friend for a week now, even after calling his phone several times and leaving messages for a call back.
Is it legal for me to take possession of this motorcycle? and if i am, how do i go about getting it?
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In 2005, I applied for a loan from Capital One/Kawasaki and purchased XXXXXXX (brother), a 2005 Kawasaki ZX6R 636 Ninja. Since 2005, I was under the assumption that he was paying this account.
On 28 January 2015, I received a phone call from Asset Recovery Solutions LLC. They informed me that Capital One/Kawasaki had sold them the account due to non-payment. I informed them that I would pay the account in full as soon as I figured out why it went delinquent.
I spoke to XXXXXXX (brother), and he informed me that his wallet had been stolen several months ago and he had to cancel all of his credit and bank cards. One of the cards in his wallet was used to make automatic monthly payments on the Capital One/Kawasaki account. Due to an oversight, he did not make arrangements to continue to make automatic payments on the Capitol One/Kawasaki account via a newly issued credit or bank card.
On 30 January 2015, I called Asset Recovery Solutions LLC and paid the debt in full in the amount of $2,744.00. Asset Recovery Solutions informed me that they are unable to provide me a receipt until 30 days after payment. That is their policy. Enclosure (1) is provided as proof of payment.
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Per my brother, the motorcycle is at his friends house in Virginia Beach. I currently reside in Washington State. I paid off the rest of the balance and the title will be mailed to me in 90 days. My brother no longer deserves the bike and I told him that the motorcycle is mine now.
I have made several phone calls to his friend to make arrangements to have the bike shipped. I talked to him once, requesting him to give me a call once he gets the ok from my brother. I have not heard from the friend for a week now, even after calling his phone several times and leaving messages for a call back.
Is it legal for me to take possession of this motorcycle? and if i am, how do i go about getting it?
