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I sold my car, handed over the title but the guy still owes me money. can i still collect or repossess?
6th February 2011
I sold my car and gave the guy the title so he can register it and get license plates. But now the guy is starting to act shady when its time to pay me since i sold him the car in payments. Can i still collect or repossess the car even though he has the title in his possession. I hav not signed it yet though. I live in chicago. Thanks.
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did you sign a contract? if you did either A. sue him and talk to the SOS or B. talk to the SOS and show them the contract and see if they can get you the title back you haven’t signed the title so that’s good don’t sign it until you have cash in hand or contract in hand make sure to get it notarized at the SOS as well.
Comment by cory l — February 6, 2011 @ 4:15 am
YOu may have to sue him. Should not have handed over the title before payments were complete. Not sure if you signing it or not will make any difference if it is in his possession and he has already registered it in his name.
Good luck. Hope your not out too much money.
Comment by wilcotex — February 6, 2011 @ 4:15 am
Since he has the title you do not have much of a leg to stand on unless a contract was signed and witnessed to sell the car. You should have kept the title until all the payments were made as banks and other lenders do.
Comment by Stuart H — February 6, 2011 @ 4:15 am
Maybe you should file a police report to protect yourself but once they have the title its pretty much thiers.
Comment by z — February 6, 2011 @ 4:15 am
If you did not sign it ; he legally can’t change it over to his ownership.
Comment by Gary J — February 6, 2011 @ 4:15 am
I hope you have a contract clearly stating what action you will take if he defaults on the payments.
Comment by Scott H — February 6, 2011 @ 4:15 am