Q: I loaned a friend 5000.00 for 6mos and he is to pay back 6000.00 it's been a yr now and I need my money back I do have a
Written agreement signed by both of us plus he signed his truck title and gave to me for catallol can I repo the truck since he breached our contract or what can I do this will take place in nebraska
A:
Your options depending on whether you followed the legal formalities to register and properly document your secured collateral/lien on the vehicle. If you did, then you have the remedies available to other secured creditors, which can include repossession. If you did not follow the legal formalities for secured property, then you could be found liable, even potentially criminally liable, if you try to repossess the vehicle or otherwise attempt remedies only available to a properly secured creditor.
Even if you do not have a proper lien, you would likely still have remedies available under contract law, such as bringing a lawsuit for lack of payment and then seeking garnishment, sheriff sale, or other methods of collection once you have a judgment for a specific dollar amount. You would want to consult with an attorney about the specifics of your situation to see what remedies are legally available to you.
For some more info about what is required for a lien on a vehicle, see the DMV's website:
https://dmv.nebraska.gov/dvr/lien-notations
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