Legal Question in Legal Ethics in Iowa

I have a truck that is financed through a bank. I was going to sell it to a friend but my banker said that he didn't have enough credit history to just put it in his name. My banker advised that an alternative would be to let him take the truck to his new job in another state and let him make my payments so that the banker could see in a couple of months that he was going to be responsible enough to handle the payments. During this time my banker gave my friend several other installment loans but kept putting me off when I asked if we were going to switch everything over. My dilema now is that I just found out that my friend is in jail and has lost his new job and my truck is in another state. Do I have any legal recourse in this situation?


Asked on 11/17/11, 2:35 pm

1 Answer from Attorneys
Robert Luedeman solo practitioner

If I understand you correctly you let a friend title your truck that you owe money on, and now he's in jail and vehicle is in another state. You can go and repossess the truck if you can establish your ownership, but the way things are now you'[re getting to pay on a truck you don't own.

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Answered on 11/21/11, 6:17 pm


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