Would it be legal to repo...

[Excessive Force]

I sold a piece of 'special equipment' with a remaining $5k due in 2 months that was due back in 2003. I have gotten nothing from the buyer except excuses. Now Im down for a good head crunchin, leg breakin time most of the time but was wondering if I would be in the legal right to repo that 'special equipment' for lack of payment to which a simple contract was written up between the 2 parties and have failed to recieve the remaining payments for over 2 years? Any good suggestion short of giving me prison time?

[ROZ]

Originally posted by Excessive Force
I sold a piece of 'special equipment' with a remaining $5k due in 2 months that was due back in 2003. I have gotten nothing from the buyer except excuses. Now Im down for a good head crunchin, leg breakin time most of the time but was wondering if I would be in the legal right to repo that 'special equipment' for lack of payment to which a simple contract was written up between the 2 parties and have failed to recieve the remaining payments for over 2 years? Any good suggestion short of giving me prison time?
PM repo man. It's likely he'll have a few answers for ya.

[Jrocket]

Touchy area ther.
Hey repo man,Ive got some free time on my hands.Do you need some help?

[gramps]

Originally posted by Excessive Force
I sold a piece of 'special equipment' with a remaining $5k due in 2 months that was due back in 2003. I have gotten nothing from the buyer except excuses. Now Im down for a good head crunchin, leg breakin time most of the time but was wondering if I would be in the legal right to repo that 'special equipment' for lack of payment to which a simple contract was written up between the 2 parties and have failed to recieve the remaining payments for over 2 years? Any good suggestion short of giving me prison time?
If you have a legal written contract I don't see any problems.

[Excessive Force]

thats what I would think.

[clownpuncher]

If there is a sales receipt/invoice showing balance due I'd think you're justified in repo-ing it.
Just a suggestion, if'n things do get a little violent and the guy gets hurt, you might not wanna expose your ***boat screenname when it goes to court.
Seriously, I'd contact repoman on the boards and get some expert guidance. Ot take it to small claims. Pain in the ass but.....

[mike37]

Originally posted by Excessive Force
I sold a piece of 'special equipment' with a remaining $5k due in 2 months that was due back in 2003. I have gotten nothing from the buyer except excuses. Now Im down for a good head crunchin, leg breakin time most of the time but was wondering if I would be in the legal right to repo that 'special equipment' for lack of payment to which a simple contract was written up between the 2 parties and have failed to recieve the remaining payments for over 2 years? Any good suggestion short of giving me prison time? I don’t think you can repo it unless you set it up as a loan with the equipment as collateral kind like a car loan

[Excessive Force]

The plot thickens....maybe Repo-man will chime in here soon.

[mickeyfinn]

Here is something I found:
EXACTLY WHEN CAN A CREDITOR REPOSSESS SOMETHING OF MINE?
When you buy large items such as furniture, appliances, or automobiles on credit, the creditor usually keeps a Security Interest or lien in the item(s). What this means is that if you don’t make your payments as agreed, the seller has the right to repossess (take back) your purchase. Depending on how much you paid before the repossession, the seller can either just keep the purchase and cancel your contract, or sell it to someone else and charge you the difference between what he got from the resale and what you agreed to pay originally. If you had almost paid for the item before it was repossessed, the seller must resell it and you should be able to get some of your money back.
Your creditor can repossess without going to court only if he can do it peacefully. That is, he cannot break into your house or use other forcible means to get the item away from you. If he can’t do it peacefully, he must go to court (You may, however, have to pay his costs of taking you to court).
If you disagree with your creditor about rights under the contract, or what you owe, you should not allow the creditor to simply take back the purchase. See a lawyer first; you might be advised to force your creditor to go to court instead of allowing him to peacefully repossess.
This came from the following page:
web page (http://www.lawhelp.org/documents/94691DEBT.html)

[Excessive Force]

Good info so far...All I had was a simple contract much like one you make when you sell your used car. Dont know what I was thinking, the buyer is hiding from the IRS for years and owes them like $60k. So getting a Judgement thru the courthouse would prolly mean nothing to him. Theres gotta be a way. So far its sounding like brute force.