My question involves a consumer law issue in the State of: California
I co-signed for an expensive car in a contract in exchange for a professional service he was meant to supply to me. The co-sign occurred via an LLC (Nevada) that he set up, with him + me as 'managing members'. The car is registered in the name of the LLC which is now in default. I am the co-signer and the lease is in the name of the LLC with me as the co-signer only. My name is all over the lease. His appears no where. We signed the paperwork. We had a contract (him and I via that LLC) which guaranteed me a number of things protecting my liability with reserves etc, including the right to turn in the lease at any time if he breached. He has breached almost every clause. He was paying for the car, but recently stopped paying and i discovered that since he lost his license that i have unlimited liability. He also didn't pay the registration for over a year. He took me out of the LLC without my knowledge a long way back. So going to the DMV to get it changed over would cost me a lot of $$. He has both sets of keys. I asked for the car back. He wont' return it. I am meant to be switched out of this business lease after 2 years (coming up), I've been to the California Highway Police and the Police. I need possession so i can work out what to do with it. There's a $50K at least liability on me now at least. I have text messages from him threatening to stick me with this car. The police say even if i change the ownership on the car, that i can't report it as stolen i'd have to report it for embezzlement as when he got the car originally, he had a right to it, as do i. Where do i stand with the car dealership to help me if at all out of this mess (they set up the registration such that if he defrauds me in the LLC as he has, i have no way to legally get my car back or do i?) Do they have any accountability in creating this lease such that i can not get my own legal car back? I contacted them. All they have done is supply paperwork that i signed. If not, where do i go to quickly, cheaply get the car back? I believe it's being garaged in a locked location, which i cant even verify bc it's private and locked away. I already hired a private detective who just ripped me off and didn't do anything for me.
I'm told i have to sue. Is there any other way. I don't have enough money to sue. but ill have to find it i guess. There are other matters but this is key. He's a criminal in every sense of his life apart from this.
I co-signed for an expensive car in a contract in exchange for a professional service he was meant to supply to me. The co-sign occurred via an LLC (Nevada) that he set up, with him + me as 'managing members'. The car is registered in the name of the LLC which is now in default. I am the co-signer and the lease is in the name of the LLC with me as the co-signer only. My name is all over the lease. His appears no where. We signed the paperwork. We had a contract (him and I via that LLC) which guaranteed me a number of things protecting my liability with reserves etc, including the right to turn in the lease at any time if he breached. He has breached almost every clause. He was paying for the car, but recently stopped paying and i discovered that since he lost his license that i have unlimited liability. He also didn't pay the registration for over a year. He took me out of the LLC without my knowledge a long way back. So going to the DMV to get it changed over would cost me a lot of $$. He has both sets of keys. I asked for the car back. He wont' return it. I am meant to be switched out of this business lease after 2 years (coming up), I've been to the California Highway Police and the Police. I need possession so i can work out what to do with it. There's a $50K at least liability on me now at least. I have text messages from him threatening to stick me with this car. The police say even if i change the ownership on the car, that i can't report it as stolen i'd have to report it for embezzlement as when he got the car originally, he had a right to it, as do i. Where do i stand with the car dealership to help me if at all out of this mess (they set up the registration such that if he defrauds me in the LLC as he has, i have no way to legally get my car back or do i?) Do they have any accountability in creating this lease such that i can not get my own legal car back? I contacted them. All they have done is supply paperwork that i signed. If not, where do i go to quickly, cheaply get the car back? I believe it's being garaged in a locked location, which i cant even verify bc it's private and locked away. I already hired a private detective who just ripped me off and didn't do anything for me.
I'm told i have to sue. Is there any other way. I don't have enough money to sue. but ill have to find it i guess. There are other matters but this is key. He's a criminal in every sense of his life apart from this.
Repossession: How Can I Repossess a Vehicle from Someone in an LLC Where I Am the Only Co-Signer
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