HELP! PLEASE. Lawyers or Boss Help!

[kenmailbox1]

Thanks for viewing

[kenmailbox1]

Thanks for viewing

Edited June 16, 2012 by kenmailbox1
Event overtaken

[prego08220]

I got a suggestion.. But just a suggestion only... Thats is to find another buyer OR bo bian, No buyer right, Bring to Malaysia dan report lost,, Claim from insurance... Really a nice bike, too bad i no class 2, if not i will help u.. Good luck for ur search for a new buyer.. Dun really wan to see a nice bike like this to end up in malaysia..

[hachi]

Is there any agreement between the owner and you?

And even there is buyer there still outstanding loan to settle as well....

If there is no agreement then is only ur words against his...

[Guest ViciousKitty74]

Bike transferred.

 

Ex owner garantor.

 

outstanding amount above 10k.

 

bikeshop sell the bike, 7k.

 

15k-7k is 8k outstanding. not enough to bankrupt the current owner.not enough to bankrupt garantor too.

 

bankrupt requires a debt above 10k. is that correct?

[contrarian]

this should answer most of your questions:

http://www.singaporebikes.com/forum/index....howtopic=152129

[hailang_82]

not enuff to bankrupt but you can garnish him or something like that. It means that his monthly pay will be deducted automatically b4 he can use it.

[EJ]

 

nice gixxer btw. hehe

[denis]

and i thougt C.O.I alone was worse. Letting the buyer C.O.I and being his guarrantor was plain suicide.

 

btw, it takes a mere 5 yrs to be discharge from bankruptcy. and u won't get a single penny from him by doing dat.

[omnislash]

Dun be middle, dun be guarantor, dun be matchmaker 3 generations good.

[kenmailbox1]

Thanks for viewing

[Guest ViciousKitty74]

But you arent the owner of the bike?

 

What if that guy decides to disappear and wont transfer the name of the bike?

[jia_yvon]

sad case..

[fred86]

i tot report lost in overseas cannot claim?

[kenmailbox1]

Thanks for viewing

[contrarian]

Originally posted by kenmailbox1@April 08, 2007 08:41 pm

And bank interest u would not want to know: 155% on amt owned for instalment

If I were you, I'd get some professional advice on this bank interest item to see if it's legit to step it up to 155% this way. It would appear that the interest might far exceed the capital outstanding - not sure that can be possible in a five year loan.

[minorsage]

get a lawyer and sue him lor.

 

if he really want to be bankrupt, at least you did your best.

 

i don't think anyone will want to be declare bankrupt for such a small sum of money.

[three]

In the 5th schedule thats mailed to you, estimeted value of bike is $7k?

 

When is the expiry of 5th schedule? Who is the other guarantor? My advice is to take back the bike. Ride it till break even and dump it. Let this be a lesson learnt. Any queries, feel free to pte msg me.

[FW1314A]

pls update us when hav any new info. would like to know more.

[ZzGaNgStErzZ]

omg. tis is my 1st time seeing tis kinda ting.

[kenmailbox1]

Many Thanks To All Reader & Helpers

[ZzGaNgStErzZ]

Originally posted by kenmailbox1@April 13, 2007 08:56 am

By the way, i learnt some new things to share. To sue other till bankrupt for a 15k total - 7000 bike price = $8000 is useless.

 

Hire purchase agreement can only be settled in court & not SMALL CLAIM TRUBUNAL.

 

Lawyer fee around 2-4k & you won't get any $ if the person just declare & will walk free after few years. So don't waste $ unless the person's family is willing to pay.

 

Anyway the guy don't want me to ride the bike nor does he want to sell at first.

 

But the guy finally have a change of mind & carried on riding & paid the outstanding after i talked to him for hours.

 

MANY THANKS TO ALL READER & HELPERS

he's a fxxker. :mad:

[swoosh]

Originally posted by kenmailbox1@April 13, 2007 08:56 am

By the way, i learnt some new things to share. To sue other till bankrupt for a 15k total - 7000 bike price = $8000 is useless.

 

Hire purchase agreement can only be settled in court & not SMALL CLAIM TRUBUNAL.

 

Lawyer fee around 2-4k & you won't get any $ if the person just declare & will walk free after few years. So don't waste $ unless the person's family is willing to pay.

 

Anyway the guy don't want me to ride the bike nor does he want to sell at first.

 

But the guy finally have a change of mind & carried on riding & paid the outstanding after i talked to him for hours.

 

MANY THANKS TO ALL READER & HELPERS

wouldn't now be a good time to get him to change guarantor???

[mikeang33]

Originally posted by kenmailbox1@April 08, 2007 12:42 pm

hello,

 

Can anyone please advice me? Im at a loss.

 

I sold my bike to a person 1.5yrs ago, the bike shop wants 2 gurantor for the owner so i became the gurantor. I know im stupid & there is nothing i can do but learn a lesson.

 

During these 1.5 yrs, the owner has always default & late payment, 4XReminder, 1Xtow back, 1Xlawyer letter. Just the amount of admin, lawyer fees & misc fees is 2k+. I have been trying to pay the misc fees for the owner and some instalment total 3k.

 

My bike is GSX1000 K2, monthly 369 for 60months/5years.

 

Now the bike is in the shop again. The owner does not want to ride the bike, simply don't care. His intention is to sell back shop but total loan outstanding is 369X41months=15129, bike is only worth 7k by shop. The loss payable is 8129 & the owner does not want to pay, he don't mind being a bankrupt or he wants to take advantage of me, im a civil servant.

 

What should i do?

 

**There is no way for me to discharge as gurantor till bike sold & paid.

 

1. Sell back to shop & pay for the total loss. File up all the loss i paid these few years & sue the person for bankrupt?

 

2. Sell to outside buyer & pay for the remaining loss. File up all the loss i paid these few years & sue the person for bankrupt?

 

3. What is my chances of success to sue the person and if he declare bankrupt, do i get anything?

 

4. The decision has to be made by this month.

 

Bike pic attach, if anyone can help me or wants to buy, consider.

 

If anyone is a lawyer or knows what to do, please sms/call me 81114533 or email me at [email protected]

 

 

:help: :help:

nice bike

 

wat price you looking at

 

may be i wan

[Darkness19]

sad case,wish u good luck