Legal Question in Credit and Debt Law in Indiana

vehicle partially paid for

I sold travel trailer to individual.Have signed note by buyer stating he will pay 1000 down((purchase price is 5300) and pay balance within 40 days. He has made two additional payments totaling 2700.(700&2000). Amt. paid totals 3700 leaving balance of 1600. I have trailer.. I have not heard from buyer for 2 weeks.Note due date has past for sometime. I feel he has bought this trailer for his girl friend and wife has found out!What should I do?What is my legal position as seller?Who owns trailer?

Thank you


Asked on 7/19/08, 8:16 am

1 Answer from Attorneys
Samuel Hasler Samuel Hasler

Re: vehicle partially paid for

No, the trailer is not his until paid in full. What you can do depends on what your remedies under the note. In other words, read the note to see what you can when the note is in default.

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Answered on 7/19/08, 12:22 pm


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