I used my car title for collaterol on a loan. A freind starting making payments, contract was signed between both of us. Contract stated "freind" would make monthly payments until paid in full. "Freind" loss job, and is now thinking about moving to another state.
What are my legal rights to take the car back? She has been late on payments, but never 30 days late. Can I take car back for the late payments? My fear is her leaving state, and this car is still in my name with a lien against it. I'm now responsible for paying for a car that I don't have. I know this isn't the wisest situation to put myself in, but it's better than defaulty on the loan.
Any suggestions...?
What are my legal rights to take the car back? She has been late on payments, but never 30 days late. Can I take car back for the late payments? My fear is her leaving state, and this car is still in my name with a lien against it. I'm now responsible for paying for a car that I don't have. I know this isn't the wisest situation to put myself in, but it's better than defaulty on the loan.
Any suggestions...?
