Get what you expect out of it….probably…. just need to make sure you price it as *firm* and not OBO.
However….. federal charges…that’s laughable. Trust me I am a guy that after getting married and divorced at one time had my credit drop to a high 300’s thanks to my now ex wife’s bad choices. Do they have the option to take you to court… yes….do you have to show….not really. The most they could ever do is reposes the property and try to force you to pay the remaining balance of what they couldn’t get out of it. That and it is not a federal anything…. the credit laws as of probably when you/he bought the bike are state regulated….. most all states have statutes of limitations concerning pay back. Like in NC if you have not and are not in a position to make payments for 4 years consecutively then then the lender is screwed, the longest stretch I remember for a state was 8 years. The only thing they can do is sell your information to a second hand collector which will usually try and get you to settle for 3/4 to 1/2 the remaining balance. And why not …they have nothing invested in it. So it’s a money bag for them. However the original lender can keep posting the negative report on your over all report. No Federal anything……now this new joke we have in DC…….well….. that’s gonna be a problem down the road and a debate I’ll not get into on this forum.
I am not condoning by any means to not pay them back. However don’t let them mislead and misguide you by using bullying phrases like….law suit, we can take this or that …etc. Believe me after my ex wife’s muck ups….. these guys got to be nothing to handle for me.
If you don’t want the scoot…take your time to look the pricing up in your area…..compare it to what you would like to get and post it up. Don’t let their empty threats rush you into taking considerably less then what you need by selling to the first person looking to make a deal.