do you guys think i should do this?

do you guys think i should do this? (Full Version)

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crouchingtigress -> do you guys think i should do this? (4/24/2007 7:47:32 PM)
OK so i did a really dumb thing....i lent one of my employees 1000 bucks, and well that was the end of him...in fact i am blocked on his skype and yahoo. anyway you all know me, i am pretty upbeat, and i dont like to be mean, but i am in a quandry because he did give me the title to his car as collateral (5-600$) i could go down with the police and get the car, they said they would stand guard as i got it. but here are my questions: i dont have a key so how would i get it? should i do this, would it make for more bad blood? should i take him to court instead? if i get the judgement and he has no money how will i ever see the money?

michaelOfGeorgia -> RE: do you guys think i should do this? (4/24/2007 7:53:18 PM)
empound the car, get a locksmith to go with you and the cops and get the car. you have that right. also, since he works for you, you can dock his pay for the remainder of the balance, if he has any pay pending. go here and post your question: www.lawguru.com

crouchingtigress -> RE: do you guys think i should do this? (4/24/2007 7:58:45 PM)
he has disapeared into thin air micheal...he does not work for me any more...that is the issue....i would love to dock his pay to pay it all off...but he has vaporised

MistressNoName -> RE: do you guys think i should do this? (4/24/2007 7:59:03 PM)
quote: ORIGINAL: crouchingtigress OK so i did a really dumb thing....i lent one of my employees 1000 bucks, and well that was the end of him...in fact i am blocked on his skype and yahoo. anyway you all know me, i am pretty upbeat, and i dont like to be mean, but i am in a quandry because he did give me the title to his car as collateral (5-600$) i could go down with the police and get the car, they said they would stand guard as i got it. but here are my questions: i dont have a key so how would i get it? should i do this, would it make for more bad blood? should i take him to court instead? if i get the judgement and he has no money how will i ever see the money? Personally, I think you should take any and all reasonable action to recoup your money and I would not worry one iota about bad blood (whatever that means) or anything. He needs to take responsibility for his actions. I don't know how much sense it makes to get the car, unless it's worth it to you maybe have it towed and then re-sell it. It might be worth it, even if you only get a couple hundred on the deal. Depends on your POV. Taking him to court is probably the best, most effective course. As long as you have a judgment against him, you may be able to pursue other means of collection such as wage-garnishing (assuming he is or will again be employed somewhere). Anyway, all the best. That's a tough one and a horrible spot to be in. Been burned myself in the money lending game. Twice actually, but at least with one I was able to get my money back. The other has apparently fallen off the face of the earth. Best, MNN

gooddogbenji -> RE: do you guys think i should do this? (4/24/2007 8:01:35 PM)
I know it's easy to say afterwards, but I don't lend money. If I have enough, I will give it, and whoever it is has the choice to return it, and if I do not have enough, I'm keeping it for myself. Yours, benji

SadisticMan -> RE: do you guys think i should do this? (4/24/2007 8:01:54 PM)
You aren't dumb for loaning money, it's very nice of you. But don't let him off.

juliaoceania -> RE: do you guys think i should do this? (4/24/2007 8:02:20 PM)
Have the car towed to wherever you like, and go to small claims for the balance. At least that is what I would do.

Aileen68 -> RE: do you guys think i should do this? (4/24/2007 8:03:19 PM)
I told you not to send any money to Nigeria!!!!

imthatacheyouhav -> RE: do you guys think i should do this? (4/24/2007 8:04:57 PM)
Geez, i'm really sorry that happened to you. if you know where the car is by all means go get it....take a locksmith and the police. and remember ...what goes around comes around. your good, will come back to you,.... and your former employee.....well you know.... Edited to add: kindness is not stupidity. not even alittle.

minnetar -> RE: do you guys think i should do this? (4/24/2007 8:09:07 PM)
Please don't beat yourself up about what you did. You know it was wrong but you were kind hearted. i have finally learned i don't loan any money unless i am willing to lose it. Find yourself fortunate that you have collateral as i never have. Take possession of the car. He signed it over willing to take the chance he wouldn't pay the debt. You deserve it and i hope you recoup what you loaned!! minnetar

Saint -> RE: do you guys think i should do this? (4/24/2007 8:09:28 PM)
Hate to be the proverbial cynic, but no good deed goes unpunished. Especially when it comes to money.

Elorin -> RE: do you guys think i should do this? (4/24/2007 8:14:56 PM)
Don't worry about causing bad blood. He disappeared. The worst that could happen is that he could come back - and then you have a chance to talk to him again. I think that since you were given collateral, you should take it. Have the car towed, see if a locksmith can provide the key. If so, sell it as a drivable vehicle. If not, you may be able to sell it as scrap or to someone who thinks they can get a key made. Collateral is to provide you with some means to recoup your money if it isn't paid back. You have reason to believe (the guy is no longer working for you, you cannot contact him, etc) you will not be paid back. Make good use of the collateral. ~E

gooddogbenji -> RE: do you guys think i should do this? (4/24/2007 8:16:12 PM)
quote: ORIGINAL: imthatacheyouhav Edited to add: kindness is not stupidity. not even alittle. Actually, quite often, stupidity is masked by kindness. Not saying in this case, but often. Yours, benji

NeedToUseYou -> RE: do you guys think i should do this? (4/24/2007 8:35:16 PM)
I lost my keys before and all I did was have to go to the nearest pontiac dealership, and they pulled the vin number or something up, and printed a new key. It only cost me like 5 dollars. I didn't even know they could do that, before then. But this is pretty rural, so it may not go over as well in a more metro area.

marieToo -> RE: do you guys think i should do this? (4/24/2007 8:48:33 PM)
You'll have a hard time getting a judgement in your favor if there is no proof that this was actually a loan. Then even if you could do that, getting the judgement would only be half of it. trying to collect it will be nearly impossible if he is on the run and owns nothing, As far as the car goes, unless he actually signed the title over to you, I don't think you can sell it, because it's not yours officially. You might want to chalk this one up to experience.

MzMia -> RE: do you guys think i should do this? (4/24/2007 8:52:31 PM)
Contact Judge Judy or Judge Mathis. Since he gave you the deed, have his car towed, the locks changed and meet him in small claims court I hope you gave him a check and wrote, LOAN on it, it will make it a lot easier.

LuckyAlbatross -> RE: do you guys think i should do this? (4/24/2007 8:52:51 PM)
I agree with Julia- it might cost you a bit more to get a locksmith or get some keys and get it towed, but it's much better than anything and it's the reason you got the title to begin with.

Archer -> RE: do you guys think i should do this? (4/24/2007 9:02:48 PM)
Small Claims Court after taking the car and then you migt get the ability to put a lein on something to collect the remander. Keep good records.

kiyari -> RE: do you guys think i should do this? (4/24/2007 9:21:05 PM)
quote: ORIGINAL: gooddogbenji quote: ORIGINAL: imthatacheyouhav Edited to add: kindness is not stupidity. not even alittle. Actually, quite often, stupidity is masked by kindness. Not saying in this case, but often. Yours, benji Do you refer to what is called "gullible", perhaps? To the OP: Was there a sob story involved, if you don't mind saying? [i.e.: what inspired you to "lend" this money?] Just curiosity on my part. He may have run into a difficult situation that does not enable him to pay you back, and for that is avoiding you (and possibly others). It seems to me that giving you Title to his car was a show of good faith at the time. Where I am, if I would lose my car, that would about consign me to living on the streets in short order. Just saying.

TheHeretic -> RE: do you guys think i should do this? (4/24/2007 9:24:51 PM)
Embrace my sig line, Tigress. It's your car, slash the tires and break the glass and tail lights. Sweep up the pieces and you can't even be cited for littering. [:D] I'm with Benji, I don't loan money unless I can afford to never see it again.

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