Is there recourse in collecting on missing payments for a trailer to a private party?

UPDATED: Jan 6, 2012

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Is there recourse in collecting on missing payments for a trailer to a private party?

My father sold a trailer to a neighbor with terms that they were to pay 500 per month for 8 months until they were able to raise the final payment. Total was to be 15k. Dad received 4 payments then the 5th payment bounced. There has been no payments since for 2 months. They are not returning phone calls. Does dad have any recourse? Dad does still hold the title.

Asked on January 6, 2012 under Bankruptcy Law, Oregon


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If your father holds title to the trailer that he was selling to a private party, he can bring an action for breach of the contract against the buyer or foreclose on the security (trailer) assuming he has a security agreement as part of the sale for the item.

I suggest that your father carefully read all documents concerning the sale to figure out the best way to proceed on the agreement that has been breached. One key issue is whether your father has possession of the trailer or not. I suggest that your father consult with an attorney who practices law in the area of business transactions.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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