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You got a personal loan and he is a lien holder on your boat now he is threatening to repossess your boat the boat is worth 45000 and the loan was for 8000 what legal steps does he need to take?
Updated: 12/12/2022
Wiki User
∙ 15y agoBest Answer
If you are making payments he can't take it. Otherwise, he just goes to court and gets a lawsuit against you for the money you owe. If you don't appear in court, he wins. He can then take your boat.
Wiki User
∙ 15y agoThis answer is:
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Earn +20 ptsQ: You got a personal loan and he is a lien holder on your boat now he is threatening to repossess your boat the boat is worth 45000 and the loan was for 8000 what legal steps does he need to take?
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