Financing Cattle?? &*^^&&%$#$%)**@

[dun]

It does help that I am 6'3" and 230 lbs and he is around 5'6" or so. :lol2:

Remember that Sam Colt made everyone equal!

 

[Angus Cowman]

if your going down there be sure and take a witness or two just so the story can't become his word against yours

 

[kenny thomas]

Sounds like you have waited long enough. Hopefully if he knows the Ranger is involved he just lets you load them. That is if they are still there.

 

[Bonsman]

Sounds like you have waited long enough. Hopefully if he knows the Ranger is involved he just lets you load them. That is if they are still there.

Please DO NOT threaten criminal prosecution to collect a civil debt. It is called extortion and you could find your happy arse in jail.

 

[Bonsman]

if your going down there be sure and take a witness or two just so the story can't become his word against yours

This is very good advice.

 

[Ruark]

Bonsman, I'm just wondering - what kind of recourse do you think he might have if the guy has sold his cattle?

 

[kenny thomas]

Bonsman, I have learned some things here. I even pay for some cattle but have a friend keep and trade them and I get back my origional investment plus half of the profits. Maybe I need to look at a contract for this also. Right now there is nothing on paper. I only supply the money and sometimes don't even know where he buys the cows from. Have made good profit so far but I have nothing showing I really own them. Just a friends aggrement.

 

[Douglas]

"Yes, and cow law is one of my areas of practice."

Sorry but that made me laugh. Cow law. Too funny.

But you think about it, cattle are very valuable, hard to tell one from another, and easy to hide on the back forty.

 

[Bonsman]

Bonsman, I'm just wondering - what kind of recourse do you think he might have if the guy has sold his cattle?

None because there is not a UCC#1 filed which tells the world there is a lien on the cattle.

 

[Bonsman]

"Yes, and cow law is one of my areas of practice."

Sorry but that made me laugh. Cow law. Too funny.

But you think about it, cattle are very valuable, hard to tell one from another, and easy to hide on the back forty.

Not only that, but some cattle only know how to get on the trailer when it is dark.

 

[Bonsman]

Bonsman, I have learned some things here. I even pay for some cattle but have a friend keep and trade them and I get back my origional investment plus half of the profits. Maybe I need to look at a contract for this also. Right now there is nothing on paper. I only supply the money and sometimes don't even know where he buys the cows from. Have made good profit so far but I have nothing showing I really own them. Just a friends aggrement.

The number one rule is know who you are dealing with. He has possession which "may" allow him to sell the cattle and leave you with a claim against him. You would need a written agreement with him; and then file a UCC#1 to protect yourself. This type of problem (where you lose your cattle) typically happens in a bankruptcy where the Trustee can "jam" you and take the cattle. It is all about the UCC #1 getting filed.

 

[TexasBred]

This is a perfect example of what happens when we get out of our field of expertise. We are not bankers. If the bank doesn't want to loan him money I sure don't...but if you insist on doing it I think of the old saying that 'Lawyers are totally worthless.....until you need one". ;-) A few hundred dollars spent coudl have saved you thousands.

 

[2barmcattle]

Bonsman, I'm just wondering - what kind of recourse do you think he might have if the guy has sold his cattle?

Just found out he had a horse deal go bad too. Almost thinking that there was intent from the 'git go'.
This guy agreed with me that he comes across as the nice guy with no money and a nice young family that just wants a start that feeds on folks that want to help. Not at all ashamed for trying to help and.....really starting to get 'TICKED'.

 

[Ruark]

My free advice contribution: When somebody asks for a loan or to buy on time tell them that's what banks are for.

Yeah, that's really a bottom line. If he wants a payment plan, let him get it at the bank and just give you a cashier's check. What's the difference? Conversely, if his credit's so bad he can't get it from the bank, you probably don't want to loan him money either.

 

[chippie]

Sounds like he is an experienced con man. I am sorry that this happened to you. I hate to say it, but chances are your cattle are long gone.

Did you ever check on the cattle while waiting for payment to see if he still had them?

 

[Ruark]

Sounds like he is an experienced con man. I am sorry that this happened to you. I hate to say it, but chances are your cattle are long gone.

My thoughts as well, although I'm just armchair quarterbacking here. Good chance he had some kind of half-assed plan to take the cattle, sell them for a small profit and pay you back from the money from the sale (after he made some overdue credit card payments). Only he couldn't sell them for enough, or "something came up" and he spent it all.

 

[2barmcattle]

Sounds like he is an experienced con man. I am sorry that this happened to you. I hate to say it, but chances are your cattle are long gone.

My thoughts as well, although I'm just armchair quarterbacking here. Good chance he had some kind of half-assed plan to take the cattle, sell them for a small profit and pay you back from the money from the sale (after he made some overdue credit card payments). Only he couldn't sell them for enough, or "something came up" and he spent it all.

Everytime we talked he would say things like "The cattle sure are looking good, I will send you pictures." Or " The Grulla had her calf, I'll send you a picture". You suppose that is why he never sent the pictures? :bang: :bang: :bang: I'll know when I drive down there tonight I guess.

 

[chippie]

 

[tmlonghorns]

Read the first page of this post and then quit so sorry if someone has already said this....

Best bet is head down there to pick up your cattle....like you said you were going to do. I would be real cautious if the kid puts up any kind of fight with you. But my guess is that if you are firm he will be a bit scared and you can get your cattle back. Having a sheriff with you is NOT a court order but it will protect you but my guess is they got better things to do.
Please keep us posted.

 

[dun]

It's interesting how in just a couple of days the guy went from being on hard times to being a sly and cunning cattle thief!