Yup friendship and business make a bad mix. A buddy of mine had a tractor trailer rig, he was out of work and not able to make payments when he came to me asking for a loan. Well I dug the hole a bit deeper for myself, I asked him how much was owing against the truck, he told me 35 thousand the GE finance.
I told him the only way I would loan the money was to pay out the GE loan then register my own paper against the truck and trailer. Which is precisely what I did, then a couple of months later a Sheriff comes looking for the truck. My bud neglected to inform me there was also a 9 thousand dollar mechanics lien against the truck.
What was i to do, I was already into this thing large, I paid out the mechanics lien. I had been very lenient with him about not paying as he had the truck and trailer up for sale. Ha the plot thickens here.
Couple of young lads come along and agree to the price they have some cash, enough to satisfy my bud, my money was still tied to these fellows getting a loan. So I step right up to the plate and tell my bud take the deal and that I would hold the paper for the lads. This is when I sniffed something was amiss, when he refused. I could only then assume that he was trying to screw me out of the loan money.
Okay the lads don't get their truck, it's going on 9 months and I haven't been paid a dime, so I foreclose on the loan and seized the truck and trailer, got my money and lost a friend.
This deal cost me more than I care to think about. I had just purchased a brand new 93 Dodge 4x4 fully loaded with the Cummings engine. I suspect that my ex friend had put some metal filings into the fuel tank., some made it past the filters and screwed up the injector pump.
A friend that would cheat you is not a friend at all, cut your losses Olddude and move on.
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