Jail Time?

Hey I got a buddy that started a project and now due to his finances he cant finish the project or pay his payments on it either.So here he is car all tore the hell up so far away from finishing it and at the point where he cant sell it either because it is not presentable. He had good intentions but as it is right now it looks like crap.So, he is weeks away from getting a notice from the bank about repoing his ride. I know they will take it and sell it at a auction and sue him for what ever is left on the car. But he is worried about them looking at it as vandalism because I have heard of this before its not actually "his" it the banks. So he just cut the hell out of the banks car. Besides trying to get their money back will he see jail time? Look at it as worst case not like "well tell him to put it together and sell it."He said if there is or might be jail time then he can sell his major tools and other items to get caught up but then making the payments is still a problem.

jail?????????nope they may try to scare him in to paying more for the damage but they can not get him put in jail trust me on this one

So they wont press charges on him? But they will make him pay the remander of the amount of the loan right?

My cousin had the same thing happen to him. He decided to rip the 3.9 outta his dakoa, and all the electronics, and put a carbed 360 in it. Big ass hood scoop, true duals, and push button start. Then they repoed it. But they never arrested him or anything.

yeah they cant arrest him for any thing less than setting the truck on fire on purpose or something serious like that and even though its all torn apart if all the pieces are there than they technically cant even make him pay for anything because all that loan is based on is the vin we gutted a car one time before it got repoed it was just a shell when they picked it up and we never heard a thing

What if its a lease? Still the same?

does he even have a job?...what kinda car is it?...a damn bentley?...does he have a valid reason for not payin for the car or what?...banks work with people because they know they will get their money in the long run so he might wanna try payin for it somehow before he just gives up

This wouldn't be a property crime, but rather a civil property dispute.

Your buddy entered into a contract with the bank for the loan. Part of that contract was using the car as collateral for the loan. He may have (ok, damn sure did) violated that contract, BUT....since he did have lawful control over the car, as far as CRIMINAL law is concerned, he didn't "damage property of ANOTHER", and so shouldn't be charged with a CRIME.

....but he can still be sued in CIVIL court.

Hope that helps.

Yea, he has a job he just took a huge cut. And with his house payment and everything else its just tight.
I know he will be sued for the remainder of the loan. He did not think he just would get off the hook but just making sure it was not going to be criminal charges.

a lease is a whole other ballgame becuase unless he follows through and pays the car off it is still technically the dealerships car so he would have to settle up with them its part of his bailment agreement that he would sign with all the other papers but still no jail time