Legal Question in Credit and Debt Law in Hawaii

don't lend money

My son & girlfriend found a suv for sale ($15,000) that was real cheap & in good condition, but the person selling it neeeded the money now. I took 15,000 loan and gave it to them (they really needed the suv w/two kids and all), to get the car. They were going to get a loan and pay me back. Well, they broke up, her name is on the title / not his. She says she will pay the $302.00 a month, and so far she has. But I think I need some kind of a contract or something just in case ?

Am I screwed ? or is there something I can do ?

thanks-from hawaii


Asked on 8/17/08, 8:58 pm

1 Answer from Attorneys
David Anderson Anderson Business Law LLC

Re: don't lend money

You need a Promissory Note and Security Agreement (so you can repo the car if payments are NOT made).

DO you have all collection info: Where she banks, works, SS # etc.

Call or email for assistance.

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Answered on 8/17/08, 9:03 pm


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