I had agreed to sell someone a boat that I had a loan on (approx. $17,000). He paid me $500, took possession of the boat, trailer, electronics, etc. and began making the loan and insurance payments. There was no written contract. I contacted the bank that was holding the loan to see if he could "take over payments" as we had agreed and they told me he would have to get the loan in his name. After several attempts to get him to put the boat in his name or return the boat, trailer and items to me (he never responded), I contacted the bank and told them that I would be filing bankruptcy (true, but still holding off until this is settled). I warned him in an email that I would be having the boat picked up and gave him the day. When the repo guy went to pick up the boat, it was attached to his truck and locked. He stated that it was HIS boat; that he had purchased it from me. He also provided a FORGED "bill of sale" for the trailer which was registered in his name THE DAY BEFORE. (Arrest pending, as I filed a police report.)
The repossession of just the boat took place; however, he had removed ALL electronics, life vests, safety equipment, etc. and conveniently did not have the keys. The repo company had to rent a trailer to pick up the boat from the water. When he learned that the boat would still be repossessed without the trailer, he disconnected the boat from the trailer (purposely and very sneakily) and also pulled the plug in the hull in an attempt to destroy/sink the boat. The police were there, along with the repo person, my husband and me. We all witnessed his vindictiveness.
I have since paid the repossession charge, picked up the boat, and have it on a borrowed trailer. The police are moving very slowly (in my opinion) in getting a warrant for his arrest for forgery; however, they did say it would happen for sure. They also told me to hold off on telling my insurance company.
Another issue is ... This person told the police that HE will be suing ME because he says that I sold him the boat and was going to "hold the loan". He is a convicted felon (burglary of a conveyance, 5 counts of worthless checks, grand theft, dealing in stolen property, and I'm sure more). The police called him a "frequent flyer".
Anyway, what kind of a mess have I gotten myself into? And ... does his case (if he indeed files) have any merit?