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| *Vultures Knob>>>Bike Insurance |
Do we file a lien with DMV of California or Arizona for a unpaid title on Motorcycle? |
We sold a Harley Davidson to a friend for 16,000 while he lived in CA. He moved to AZ 4 months into the agreement. The agreement (handwritten and signed by both parties) was for him to pay 260.00 a month at 16% for 72 months. This monthly payment was to cover my payment for my new Harley.. 1 month living in AZ he was in wreck and totalled the bike with no insurance. The only reason we heard was through the wrecker who had already held it for 1 year. It would have cost us 5,000 to get it out. We have sent him a demand for payment letter and have heard nothing. Whats next and can we file a lien against him, CA or AZ? there is no point in placing a lien on the bike if it is already destroyed. however, if he is repairing it, yes you can place a lien on the bike. you would have to do it in the state where the bike is. alternatively, take the jerk to court, get your judgment and recover your losses that way (including court and legal fees) good luck Why do you think you could file a claim against the states of CA or AZ? no way Your only recourse to recover the monies is to sue your friend in court to recover the monies owed, in the agreement 16% interest rate is high but probably enforceable, then you can get a judgment and if your friend has assets you can get the monies if no assets no go on collecting but I guess that will not help you with your current payments on your new Harley, hopefully you have some cash reserves to pay your loan or you will loose that Harley |
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