Repo

[Oh Lordy HepMe HepME]

Again nobody goes to jail for hiding anything they owe a loan on. PERIOD!
The only way that happens is if they hide the tractor then claim its stolen to collect insurance money. Thats a felony, go to jail!!

For just hiding it all the lender can do is mess the barrowers credit up (actually barrower did it himself not paying) or locate the item and repo it.
If its disassembled or damaged they can sue for all damages too.
There are many cases a court garnishes barrowers check over missing property. Thats pretty much a given in our state when property is not located or damaged by court date.

Money/property dealings are considered civil matters the same if you owe $1000 to a friend and he sues you for it, its no different here. No jail time..
People here must not understand courts at all.
There is Civil Court & Criminal Court.
Civil court is for this loan you failed to pay on where Kabota sues to get their tractor back or for its value. You lose you pay money..

Criminal courts so if you held a gun up to a Kabota dealers head and took a tractor by force. This is a felony so now you'll go to jail.
Get it?
That said,
either pay your dept or return it like a real man would do! Buy another one later.

 

[WM75Guy]

Camouflage it from view. Park it in a field and stack pallets around it like this. It will confuse the repo guys.

Seriously, talk to your lender and try to work something out. The last thing most lenders want to do is repo it. They may let you stretch out the payments to lower the amount or tack the missed ones on the back of the loan.

 

[MoKelly]

Again nobody goes to jail for hiding anything they owe a loan on. PERIOD!
The only way that happens is if they hide the tractor then claim its stolen to collect insurance money. Thats a felony, go to jail!!

For just hiding it all the lender can do is mess the barrowers credit up (actually barrower did it himself not paying) or locate the item and repo it.
If its disassembled or damaged they can sue for all damages too.
There are many cases a court garnishes barrowers check over missing property. Thats pretty much a given in our state when property is not located or damaged by court date.

Money/property dealings are considered civil matters the same if you owe $1000 to a friend and he sues you for it, its no different here. No jail time..
People here must not understand courts at all.
There is Civil Court & Criminal Court.
Civil court is for this loan you failed to pay on where Kabota sues to get their tractor back or for its value. You lose you pay money..

Criminal courts so if you held a gun up to a Kabota dealers head and took a tractor by force. This is a felony so now you'll go to jail.
Get it?
That said,
either pay your dept or return it like a real man would do! Buy another one later.

You win the prize for the longest name ever on the site (at least that I have seen).

MoKelly

 

[3Ts]

So if your friend is so smart why wouldn't he use revolving credit in the form of a Cashback credit card and pay it off every month instead of paying with peelers for everything? You can get from 1-5% back depending on promotion. Just saying. Also I've ran into a few shady dealerships over the years where there finance department tries to charge you interest rates that are higher than what your bank or credit union can offer you, even with perfect credit 800+.

I didn't say he was smart, but I will say he was clueless. I've encountered many "smart" people that were clueless. How about an engineer that thought he didn't have to pay his electric bill because he never received the bill in the mail?

 

[goeduck]

Does hepme mean helpme or hempme? Just askin'

 

[TheDingy]

I’m not sure anyone is an idiot to tell folks to pay their bills. Doing the right thing is always preferable.

MoKelly

You are right it always is preferable, but what if he is using that tractor to put food on his table, and can't lose it or the family will go hungry. Bankruptcy laws exist for a reason. Many of these companies allow people to over extend so much it is insane. I would more than likely be filing bankruptcy if over 50% of my rental portfolio wasn't paid off and my mortgage companies didn't want to work with me. Some states right now you can't sell a home and must make payments while the renters are living for free. He may be in this situation.

Fixing a wrong is always a good thing.

You are right it is, but having debt and a China created pandemic that we have never seen before the effects of on a global scale could have never been looked at. I have more than one friend that has lost a spouse a child or parents. I have lost a few employees due to this pandemic. We all have to come together and not say horse dookie like pay your bills, use every method you can to get back on your feet.

When Enron went up in flames they owed us millions. We still had to pay employees that were on contract at their site millions, we had to file bankruptcy. Did I feel bad, was I called a thief, was I told that I needed to right my wrongs, was my life threatened all because we couldn't pay bills? YES! Those of you on your high horse, more power to you, but bankruptcy protection is there for a reason. After mine within 180 days I was back up and running a company and had credit restored and honestly no bad recourse within two years I had more credit than before.

 

[Thall303]

Simply put Pay Up!

 

[MoKelly]

You are right it always is preferable, but what if he is using that tractor to put food on his table, and can't lose it or the family will go hungry. Bankruptcy laws exist for a reason. Many of these companies allow people to over extend so much it is insane. I would more than likely be filing bankruptcy if over 50% of my rental portfolio wasn't paid off and my mortgage companies didn't want to work with me. Some states right now you can't sell a home and must make payments while the renters are living for free. He may be in this situation.



You are right it is, but having debt and a China created pandemic that we have never seen before the effects of on a global scale could have never been looked at. I have more than one friend that has lost a spouse a child or parents. I have lost a few employees due to this pandemic. We all have to come together and not say horse dookie like pay your bills, use every method you can to get back on your feet.

When Enron went up in flames they owed us millions. We still had to pay employees that were on contract at their site millions, we had to file bankruptcy. Did I feel bad, was I called a thief, was I told that I needed to right my wrongs, was my life threatened all because we couldn't pay bills? YES! Those of you on your high horse, more power to you, but bankruptcy protection is there for a reason. After mine within 180 days I was back up and running a company and had credit restored and honestly no bad recourse within two years I had more credit than before.

Isn’t Skilling still in jail?

MoKelly

 

[Frankenkubota]

I know it has been brought up a few times in the thread, but it cannot be brought up too many times.....

When buying a used tractor make sure you are not buying a tractor that has not been paid off.

I don't think there is any way to do that.

 

[MoKelly]

You should be able to do a lien search thru the Secretary Of State in the state. That is probably the best you can do if you think the owner is not telling the truth when you ask.

MoKelly