John: Right, you made a mistake and I am sure you will never do this again. But I get i you were trying to get out of a problem.
1. Are you making payments?
2. Do you know the status of the loan? If it is in default they may have it out for repo already.
3. If loan is past due, will lender allow some type of re-age on the loan, ie so you can catch up on the payments? If not, then I am not sure you need to get the car or if you do get back, what would you do with car you that is out for repo and you can't ever legally own.
Assuming you have those details worked out.
You are not doing a repo as it is your property. But it is grey area because legally you sold him the car then he agreed to make payments on a loan, so you have Offer, Acceptance and Consideration for both parties, so you have a contract. But there is nothing in writing and if you breech the "contract" you have you have committed a tort, so you maybe he could sue you in civil court, but I doubt he would do that and you live out of state. Who knows on that point, but something you have to consider.
If you don't have a key you will need one. What is the make, model, year, miles?
And what is value of the vehicle? Maybe you just make payments on the loan and let the truck go?
To get a key at the dealer you will need the vehicle and your memorandum title.
These rules and policies may vary, but they may want proof the vehicle is in your possession and they may need to reprogram the interlock anti theft system to match the new keys. Get an estimate on new keys.
The towing company may know a locksmith that can do the work with fewer questions.
Process will vary by vehicle.
You find a towing company, give them needed paperwork that they require. Let them know the car is being used without your permission.
It is better if they can get the car at work or on public property, or a home/apartment if they can get it without causing a disturbance.
They tow it back to the tow yard and have locksmith make keys, then you hire a shipping company.
Shipping from TX to Chicago, about $1000 to $1200. And may take weeks to get picked up so discuss yard fees with towing company.
Make sure the state you have your DL in has your current cell phone on file. The driver will file a stolen vehicle report and the police may not catch he is not the owner. If so they will call you, and you can say the car is not stolen and you are the only owner of the car. DO NOT get into the back story, that does not matter.
How much do you owe on the loan? Maybe you can pay it off, get the title and then just sell the car in TX at a wholesale price to a used car lot of someone at the tow yard, but you will need the title in hand. and maybe hire an attorney in TX, they are worried about paying you and not getting car, or if you sign over the title before payment you might not get paid.
Oh and you need the tow yard to inventory the car's contents and send them to you, or drop them off at the guys work. You DO NOT want to be responsible for being charged with theft of his possessions.
I don't know maybe you need to hire an attorney in TX to deal with this?
Hope it works out.
Made a mistake by trusting an old friend. I'm from Texas, Houston area and had my friend take over payments because I didn't need it anymore and couldn't afford because of school tuition. He's 3months behind payment and won't respond back to any of my calls and messages.
Before booking a flight and look for it myself…is it possible to have a towing or repossession company take my truck so when I land I just go straight to them?
I AM IN DESPERATE NEED OF HELP AND ADVISE. I CAN'T AFFORD TO MAKE ANOTHER MISTAKE! THANK YOU.
You can't repossess it. You aren't the lender, the bank is and they are looking to you for the payment. If three months have passed without payment they are probably looking for it to repossess it.
If you have a key, and proof of ownership you can go and get it. Hopefully you also have proof of insurance to drive it. I'd also get the payments up to date so you don't fly there, get it home and have it repossessed.
A towing company might be able to get it for you, but then you would have to pay them for finding it, towing it, and storing it which won't be cheap.
Poster Gatsby did a good job of breaking it down. Before you book a flight etc, talk to the lender 1st.
If he is 3 months behind, guessing the lender already has a repo company set up to take the vehicle, (but) they probably think the vehicle is in TX vs IL. So you need to let the lender know where your friend is in IL, so they can make arrangements.
Lender does not want the car, only the money. So if you work with the lender, they maybe willing to negotiate and get back your car.
"Is it possible to have a towing or repossession company take my truck so when I land I just go straight to them?"
You can certainly hire a wrecking service to tow the truck. However, no repossession company will touch it. You are the lender in this situation, not a financial institution. Hence, only you have the authority to retake possession.
Probably to go get it yourself.