|
It may not be possible to transfer the car to your name while he still has a loan out that he used to pay it. I think the first step is to talk to your stepson, tell him how much of a problem this is causing, and try to get him to work things out voluntarily.
After that, reposession is probably a good idea. The last thing you need is to get caught up in the situation and end up with credit agencies and debt collectors coming after you.
Another thing to consider, how old is he? I'm assuming that he's stil young and iresponsible (early to mid 20's, kind of like me.)
Unfortunately, there isn't one good way to deal with this. Good luck with whatever you decide to do.
|