Throwing in the towel....Advice appreciated
- Thread starter mehogfan
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mehogfan
Registered
Thanks for the replies. I have been out of pocket. The bank has the power to just do a release of lien. It could be as easy as signing a faxed piece of paper. I do have a bill of sale from the actual original owner. The owner which was on the original loan and the current lien I am having an issue with. My problem I have is I have no proof this was actually the person I dealt with(physically). The more I work thru this mess I am beginning to think the person who sold it to me was impersonating the original owner. It never crossed my mind to check the guys ID. Well I have to get into the transmission anyways. I am going to start the process of tearing it down. If anybody comes across a frame thats semi inexpensive let me know. Thanks
sad to hear that news, but i can tell you that the bank will not work with you. so your only choice would be to either take the loss and give them the bike or strip it and buy a new frame with a clean title. Me i'd stripe it and tell them where they can pick up the old frame.
If you do a frame swap you will have to tear the bike apart anyway. That is cheap only if your time is worthless. The real critical piece of information here, which is missing BTW, is money. How much is the lean, how much did you pay for the box of parts and how much did you put into the bike for parts to get it ridable again? If all that adds up to a fair price ($4-$6K), maybe that's the way to go. Pay the lien, and chalk up the high cost to lessons learned. If not maybe a new frame is the solution. If that bike lien is 3 years old and the trail has gone dry the bank wrote off that loss off long ago and they probably have no interest in dealing with you on it.
If you paid that guy with a check for the boxes he is going to tell the bank you have the bike, assuming he didn't steal it or get it from a chop shop. It's pretty likely he isn't the lien holder either and he was just trying to dump it for what he could get. Lawyers cost bucks and any way you look at it you have an uphill legal battle at best.
Just my 2 cents. Hope things work out for you. I know how you can get attached to a bike you spent so much time working on!
If you paid that guy with a check for the boxes he is going to tell the bank you have the bike, assuming he didn't steal it or get it from a chop shop. It's pretty likely he isn't the lien holder either and he was just trying to dump it for what he could get. Lawyers cost bucks and any way you look at it you have an uphill legal battle at best.
Just my 2 cents. Hope things work out for you. I know how you can get attached to a bike you spent so much time working on!
Contact a bankruptsy attorney. He will be the guy who will know how and what your best option is. This is what he does for a living. Have him/her contact the bank and negotiate a deal. He can do this without issue and make the bank an offer on your behalf making it illegal to share infromation about his client.
This is the avenue I would take before I made a decision. Your decision without guidance wasn't very good. Don't make that mistake a second time!
This is the avenue I would take before I made a decision. Your decision without guidance wasn't very good. Don't make that mistake a second time!
mehogfan
Registered
Thanks for the advice guys. Excuse me if I choose to not share the location, color, etc. with the people asking at this time. ha. Still unsure of exactly how to proceed. Once I start tearing it down to work on the tranny I am sure I will just swap frame. Then send as many original parts I have plus the frame to the finance company. Atleast contact them and let them know where it can be found. But who knows. This having a conscious in my old age is for the birds.
lankeeyankee
Banned
Screw the Lawyers and Banks... Here you go..
eBay: hayabusa frame
Spend the extra cash to save yourself drama and chaulk it up as a learning experience and enjoy the ride.
eBay: hayabusa frame
Spend the extra cash to save yourself drama and chaulk it up as a learning experience and enjoy the ride.
Thanks for calling most of us worthless... If you time is SO precious, why own a bike at all Mr super important? Isn't riding your motorcycle a sort of waste of time?
You need to speak with a lawyer in your area. They will tell you your legal rights, responsibilities, and what your options are going forward. I recall a concept in the law called "Bona Fide Purchaser For Value Without Notice," which, although I recall it applying to real estate, it might also apply to goods. So, that's why you need legal advice. Probably from a lawyer that understands the sale of goods, and particularly, vehicle sales and titles. It's not a challenging area of the law, and he or she should be able to give you an answer without too much discussion and research. At that point, you'll know your legal rights and responsibilities. Do an online search for your local Bar Association, and give them a call; explain that you need a list of attorneys who practice in the area of motor vehicle sales and titles. While they can't recommend anyone, they should have a list of attorneys from which you could contact a few to decide what makes sense in terms of their experience and cost. Good luck.
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