Consumer Law, Warranties Repo lady

[doormat]

We lent a friend a large amount of money to purchase a motorcycle. It was a verbal contract. There is a remainder of $2000. left and he has not made a payment in over 6 months, nor does he work. However he finds money to fill the gas tank. I want to know if I have any right to repo the bike and hold it until we have recieved payment in full? I guess the better question is does he have the ability to take any legal action against me?

 

[bryan]

I may be wrong (hopefully someone who knows for sure will respond) but I do not think you have the right to repo the vehicle unless you are listed as the lein holder on the title. Even then I would expect there are certain conditions and paperwork that would need to be done in order to take the motorcycle.

You may just have to end up taking him to court for the amount.