Post: Personal loan to customer..

Posted by Ryan on 6/01/09

I'm a part time auto dealer in Arizona that sold a car to
an individual. He had been a regular customer and I
decided to front him $10,500 on the purchase of a vehicle
I had in inventory. I turned the paperwork over and sold
him the car (this is where the fool and his money was
easily parted). I had him sign a quick personal loan note
that showed he owed me the balance of 10,500 not in
relation to the auto deal. I did this becuase I dont have
a license to finance vehicles. I was not asking for any
percentage points, Just the total amount within 2 weeks.
Over a month has gone by and I haven't heard from him. I
found his family members in another state and they
confirmed he is a shyster. He has felony convictions for
similar problems in MO. All I have is a piece of paper
that says he owes $10,500 directly to me personally. What
is my next step? Who should I contact? Ryan

Posts on this thread, including this one

Personal loan to customer.., 6/01/09, by Ryan.