Legal Question in Credit and Debt Law in California

Money lending

Can i keep a person's car that she offered herself if she fails to repay a personal loan I lend her in 60 days at a 10% interest rate?

Thanks for the help.


Asked on 9/14/07, 2:35 am

1 Answer from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: Money lending

You would need to have her sign the pink slip over to you and register with the DMV as a lienholder. More to the point, why? Why would she need to borrow money from -you- unless she has bad credit (otherwise she'd be able to borrow from a bank or credit card company)? If she's burned all the banks and credit card companies and now has bad credit, why do you think your experience with her will be any different? Hope you like her car.

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Answered on 9/14/07, 3:20 am


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