Legal Question in Credit and Debt Law in Florida

I live in Florida.

Last month my husband and I bought a 2005 Prius from a twenty-something girl who wanted to use her boyfriend's diesel car as her primary form of transportation.

She wanted 9,500 for the car.

We gave her a cashier's check for 5,000 at the time of initial purchase and I drew up a little document that both she and my husband had notarized.

That document is as follows:

Installment Promissory Note

For value received, the Borrower hereby unconditionally promises to pay to the order of Lender the sum of $5000 in the form of a cashier check June 23rd 2010 towards the total sum of $9500.00 owed.

Payment Terms

Borrower will pay monthly payments each at uninterrupted monthly intervals no later than the 30th day of each month, starting on the 1st day of August 2010 until January 30th 2011. At this specified time (01/30/2011) the Principal amount will have been paid in full. All payments shall be applied to the Principal amount.

Prepayment

The Borrower may prepay this Note in full or in part at any time without premium or penalty.

Place of Payment

Payment shall be made at the above stated address of the Lender or at such place as may be designated from time to time by verbal agreement of the Lender or holder of this Note.

Acceleration of Debt upon Default

If the Borrower fails to make any payment when due for whatever reason and the Lender provides notice of such failure, the Borrower must effect payment of the amount due within 30 days, failing which the Lender can demand immediate payment of the entire outstanding Principal amount.

Collection Fees

In the event of default this Note may be turned over for collection and the Borrower agrees to pay all reasonable legal fees, collection and enforcement charges to the extent permissible by law, in addition to other amounts due.

Security

This is an unsecured Note.

We have the title of the car in our name and she has 5000 and this notarized document.

I now can not get in touch with this girl. I've tried calling, e-mailing, texting and she does not respond.

I want to make a $500 payment to her and I don't know what to do.

What if I can't get in touch with her? Will she be able to file a claim against us even though I'm trying to pay her?

Thanks in advance!

PriusLover

BTW - The car is really awesome


Asked on 7/13/10, 7:50 am

3 Answers from Attorneys
Philip Duvalsaint Philip A. Duvalsaint, PLLC

Do you have any additional contact infromation for her. Do you have the original title? Copy of her Driver's License or other ID? You could track her down with a PI. You can put the money aside and save it until you have the entire amount owed, or you find her. You might assume that her failure to provide updated contact information is a breach of the note.

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Answered on 7/13/10, 11:30 am
Angelo Marino Angelo Marino Jr. PA

This requires a little leg work. Go to her old address and see if she has told anyone where she moved to. Do a search via the web for her. Many services out there provide a reasonalble rate. Finally, if that fails you can always send the check certifed mail to prove you attempted payment. As a last resort, you can deposit the money with the court trustee. My guess is that she will contact you when she needs the money. Want to know the law? Sign up for our free newsletter on varies areas of the law by sending an email to [email protected] and requesting the newsletter, or go to www.ConsumerLawyerHelp.com. See www.FL-PI-Lawyer.com for your personal injury needs.

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Answered on 7/13/10, 11:34 am
Lucreita Becude Lucreita D. Becude, P.A.

I agree with Mr. Marino. Go to the address where she was at when she sold you the car. If she has moved, try to obtaina forwarding address or at least have them forward your contact information so that she can contact you.

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Answered on 7/13/10, 12:14 pm


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