What can they do to me if they try to repo a dirtbike that I sold over a year ago?

There is still an outstanding balance on the loan.

Asked on July 26, 2010 under Bankruptcy Law, Colorado


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

1) If there's still an outstanding balance on the bike, they can sue you for that full amount. If they sue and win and you still don't pay, they could attempt to execute on some of your property or garnish your wages. Also, note that a judgment against you is something that a creditor could attempt to enforce for years to come, so even if the don't act on it immediately, you're not out of the woods.

2) Depending on the circumstances, it's not impossible that having sold the bike could lead to criminal liability. Much depends on the exact nature of the loan and security agreement, and your state of mind, knowledge, and intentions, etc. when you sold. At the least, even if you're later vindicated on this ground, they could possibly attempt to press charges, forcing you to defend yourself.

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