Legal Question in Credit and Debt Law in Washington

Handwritten agreement on sale of vehicle and payments

We bought a vehicle from a couple. The only contract of sale is a letter signed by us and them with the agreements listed. No lawyer or notary signed it. It is said that we are to pay $200/mo for 25 months. We have had the contract for 1 year. We got behind on our payments and have been sending them money as we can, to keep from getting further behind. The vehicle is in our name and registered in Arkasas. The contract was written in Washington. They did not put a lien on the vehicle and it is not listed as collateral on the contract. And the contract doesn't list any action to be taken if we fall behind. They are threatening to go to a lawyer. What legal action can they take, if any. We have every intention of paying this debt, we just can't catch up the payments, all at once right now, like they want us to do. Can they take the vehicle back, or can they void the contract and make us pay in full? Like I said there is nothing in the contract about delinquency, just the amount of monthly payments and due date and the date when it is suppose to be paid in full, which isn't til May 2005. Any information you could give in this matter, would be greatly appreciated. Thank you!

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