Legal Question in Credit and Debt Law in Florida
i signed a contract to sell a used car with payments..buyer has car and i have title with myself as the lein holder. after a few payments buyer said they cant make any more payments. after saying i would need the car back or the balance paid, we agreed (verbal not written) on the balance being paid in 60 days. after 30 of those days buyer pays some money but now it is past the 60 days and buyer has not paid the balance..nor attempted to call...do i need to give a notice before repo ? will i need to return any of the money that was paid so far? will the repo end the contract? the buyer had asked before if he would get money back for repairs he had made to the car.if i repo will any of this need to be reimbursed? do i need police or paperwork with me when i repo? Also at the begining of the sale we had thought that i would hold on to the car while payments were being made..before we had the title transfered i found out that i could be a lein holder. so part of the contract we signed says "if seller decides to sell vehicle to another party all money that has been paid towards vehicle will be returned back to purchaser in its entire amount".. looking back i think we should have written a new contract after finding out i could be a lein holder. contract has 5 slots for payments and date payment was made. one slot is left. contract has no final due date
1 Answer from Attorneys
You have a mess on your hands because some is in writing and some is not. Try to contact the buyer and work a transfer out. If you can't the bring a claim on the debt and let the court sort things out. Something tells me that the buyer's story will vary from what yours is -- and that's why you should always put things in writing.
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