Suggestions, thoughts on what to do here, please

[burnn88]

So loooonnnnggg story short, i got my bike from a good friend (at the time) and the deal was that i would loan him "x" ammount but i would keep the bike as collateral...fast forward a year, i still have the bike and i cant get the title cause little did i know he had a loan on it. Deal was he was gonna keep it tagged so i could ride it till he paid me back. I kept it insured and got pulled over and he gave me a fake tag, so i cant really ride it legally either and i want to recoup some of my money...oh and friend is not gonna pay me back or get me the title.

Thoughts, suggestions,

Prefer legal but if it falls under "grey area" im ok with that too, just want this thing gone.

Ive seen people sellimg "track bikes" with no titles? Just bill of sale?

Oh and yea, i know i got screwed cause the loan is what the bike is about worth. :s

[vort3xr6]

I bet he hasn't made payments on it either so if you approach the bank, they will impound the bike.

Unless you got something in writing, I don't know man. Good luck.

[burnn88]

I bet he hasn't made payments on it either so if you approach the bank, they will impound the bike.

Unless you got something in writing, I don't know man. Good luck.

He gave me a "copy" of the title and also a bill of sale but that would be meaningless, and yea i think youre right, thry would take it back.

[vort3xr6]

He gave me a "copy" of the title and also a bill of sale but that would be meaningless, and yea i think youre right, thry would take it back.

If he signed the Bill of Sale and the contract terms are explicitly laid out, you have a valid case. Small claims court would be the way to go.

Or just pay a lawyer to draft up a letter of intent. That might scare him into acting.

[burnn88]

Oh and thats the other thing. This happend before i moved here from kansas...so its a kansas bike and he still lives there and going back and forth for small claims wouldnt work.

[Ghosty]

Consult a lawyer for sure, unless that douchebag deadbeat comes through finally. Learn your lesson that friends and business don't work unless it's rock-solid with paperwork. I've been screwed too, luckily wasn't too painful. This sounds like it could get painful without legal action. Good luck, report back what happens.

[Bueller]

Part it out.

[burnn88]

Part it out.

hmmm... i hadnt thought about doing that. i could probably make a good deal of what i have into it back too.. im gonna check out what all big items are selling for today!

[Fumet5uNo]

Part it out.

DONT!!! big time felony if you dont have any paper work and it traces back to you

[burnn88]

DONT!!! big time felony if you dont have any paper work and it traces back to you

bill of sale wouldnt work?

[Ghosty]

In Colorado I'm guessing you need a real green legal Title.

[Bueller]

Yea that happens all the time.

[Rider]

"sorry the bike was stolen a lot of bikes have been stolen lately in Colorado"

[burnn88]

Yea that happens all the time.

what does?

[Bueller]

what does?

/sarcasim

[burnn88]

/sarcasim

LOL thought thats what you were saying. anyone need any parts off an 06 cbr1000rr???

[TinkerinWstuff]

Isn't there some fraud involved if the previous owner sold a bike he didn't have clear title to and then bailed on his loan to the bank?

Cops and DA might pursue that but you won't ever see any of your money again.

Parting it out was my first thought....

[burnn88]

Isn't there some fraud involved if the previous owner sold a bike he didn't have clear title to and then bailed on his loan to the bank?

Cops and DA might pursue that but you won't ever see any of your money again.

Parting it out was my first thought....

after doing some other research online, i am thinking that parting might be the only way to make anything back on it. sucks to rip down a perfectly good bike.

[Ezzzzy1]

Isn't there some fraud involved if the previous owner sold a bike he didn't have clear title to and then bailed on his loan to the bank?

Cops and DA might pursue that but you won't ever see any of your money again.

Parting it out was my first thought....

There totally is and I ran into this a few years back with a car I bought. Long story short the dude sold me a car that he paid the lease off on but he did it all before the title was processed. So when it all boiled down he sold me a car he didnt own.

It was a DMV nightmare, literally.

I got the cops involved and the bank. I believe they threatened him with some federal bank mumbojumbo because I direct transferred the cash to him and the cops threatened "criminal * something* w/ intent to defraud" I believe.

You many just want to call the cops man and show them what you have.

[TinkerinWstuff]

You many just want to call the cops man and show them what you have.

just do it from a payphone and watch for video surveillance

[tecknojoe]

The scary thing is that if you part it out, and the dude knew, he'd be a perfect suspect for calling the cops on you. careful on that one.

I'd probly call the cops

[t_jolt]

as far as im concerned, sounds like someone is going to have a great track bike.

[TinkerinWstuff]

The scary thing is that if you part it out, and the dude knew, he'd be a perfect suspect for calling the cops on you. careful on that one.

I'd probly call the cops

I'd had that same thought. Kind of the "no honor among thieves" sort of deal. When things finally catch up with the KansasClown, he'll take you down with him for sure.

Tough to come out a winner in this situation.

As a 14yr old I watched my dad give up a friendship because he wouldn't loan money to some "friends". They didn't understand (and neither did I). Dad explained, if you aren't willing and able to afford to give the money to your friend, never loan it. Since then, I've seen this kind of stuff time and again. Dad explained, if the friend doesn't understand your position and are willing to sacrifice the friendship over it, they weren't a friend to begin with.

Best of luck

[burnn88]

as far as im concerned, sounds like someone is going to have a great track bike.

id love to sell it whole as a track bike.. id let it go on the cheap too.