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

[TexasBred]

This is what is wrong with our country. This guy is a scammer, you don't need a lawyer just knock his teeth down his throat. Figure his pattern out, pepper spray his eyes so he can't ID you, take a piece of pipe steel is the best jam it down his throat and when your finished wipe the pipe with bleach and throw it in the creek. Don't admit to nothing, and get a trial by jury if... you get served, most of the time it will be insufficient evidence. The cops and the DA hate thieves also.

Wow and I thought Charles Manson was sick.

 

[3waycross]

This is what is wrong with our country. This guy is a scammer, you don't need a lawyer just knock his teeth down his throat. Figure his pattern out, pepper spray his eyes so he can't ID you, take a piece of pipe steel is the best jam it down his throat and when your finished wipe the pipe with bleach and throw it in the creek. Don't admit to nothing, and get a trial by jury if... you get served, most of the time it will be insufficient evidence. The cops and the DA hate thieves also.

Wow and I thought Charles Manson was sick.

:shock:

 

[I luv herfrds]

Sue him anyway. Show an outstanding debt and a judgement already against him in a court of law.

Bonsman is that correct or should he wait til after this bum files for bankrupty?

I think the guy I got a judgement against up here filed and I already had the judgement against him so he had to pay.

 

[2barmcattle]

The contract I had him sign has a EXCEPTIONS line. That reads:
If payment is not made the cattle will once again belong to the seller and the buyer will forfeit any previous payments made. If prior written arrangemnt has been made with seller, those arrangements will supercede the previous sentence.

I don't understand why it would not be criminal if he signed the contract with the above included. Selling the cattle before payment breaks this contract.

 

[3waycross]

The contract I had him sign has a EXCEPTIONS line. That reads:
If payment is not made the cattle will once again belong to the seller and the buyer will forfeit any previous payments made. If prior written arrangemnt has been made with seller, those arrangements will supercede the previous sentence.

I don't understand why it would not be criminal if he signed the contract with the above included. Selling the cattle before payment breaks this contract.

Have you showed that to the District Attorney. If it's criminal he will sure let you know. Or you can always let all us YayHoos beat it to death for another week.

 

[Bonsman]

Sue him anyway. Show an outstanding debt and a judgement already against him in a court of law.

Bonsman is that correct or should he wait til after this bum files for bankrupty?

I think the guy I got a judgement against up here filed and I already had the judgement against him so he had to pay.

Once he files a bankruptcy Section 362 of the Bankruptcy Code takes affect. It is called the automatic stay. In general, the automatic stay prevents creditors from doing anything to collect a debt, enforce a judgment, or take control over property of the bankruptcy estate. If there is no bankruptcy filed; and he could get his judgment; and the guy does not file bankruptcy for 90 days, then that is good. But the judgment might be avoidable as a preference (among other things) if it is obtained within 90 days of the bakruptcy filing.

It is "almost" time to write this off as a learning experience.

 

[dcara]

Bonsman, you seem to express some legal knowledge so let me ask you how a "Rent to Own" thing would apply here. I know from my rental property experience that I can still evict someone and take possession of my property even if someone has filed bankruptcy. So if someone was "Renting to Own" cattle could they still repossess their property in the case of bankruptcy?

 

[Bonsman]

Bonsman, you seem to express some legal knowledge so let me ask you how a "Rent to Own" thing would apply here. I know from my rental property experience that I can still evict someone and take possession of my property even if someone has filed bankruptcy. So if someone was "Renting to Own" cattle could they still repossess their property in the case of bankruptcy?

You cannot compare real property to personal property.

However, you can do a lease to own with personal property; but you must file a UCC leasing statement which notifies the world that the personal property is leased. If you loan money, then you must file a UCC financing statement. Yes, you can lease cattle; but you still need to file the proper paperwork. To do otherwise would allow the borrower/lessee to sell the leased property and leave you without recourse against the third-party purchaser. If you have a perfected lien or lease, then you can get your cattle or money from the third-party purchaser (typically sale barns). Selling leased property or mortgaged property is also still a crime typically called hindering a secured creditor.

 

[3waycross]

Bonsman, you seem to express some legal knowledge so let me ask you how a "Rent to Own" thing would apply here. I know from my rental property experience that I can still evict someone and take possession of my property even if someone has filed bankruptcy. So if someone was "Renting to Own" cattle could they still repossess their property in the case of bankruptcy?

You cannot compare real property to personal property.

However, you can do a lease to own with personal property; but you must file a UCC leasing statement which notifies the world that the personal property is leased. If you loan money, then you must file a UCC financing statement. Yes, you can lease cattle; but you still need to file the proper paperwork. To do otherwise would allow the borrower/lessee to sell the leased property and leave you without recourse against the third-party purchaser. If you have a perfected lien or lease, then you can get your cattle or money from the third-party purchaser (typically sale barns). Selling leased property or mortgaged property is also still a crime typically called hindering a secured creditor.

Wouldn't the OP here qualify as a secured creditor because of the signed agreemwnt or did he need to have a lein on file ?

 

[High Cotton]

Stories like this make my blood boil!!!! @ss hats like this make it hard for young guys like me to getting started. Older timers wont help any of us ecause they have been burned time and time again.

 

[Bonsman]

You cannot compare real property to personal property.

However, you can do a lease to own with personal property; but you must file a UCC leasing statement which notifies the world that the personal property is leased. If you loan money, then you must file a UCC financing statement. Yes, you can lease cattle; but you still need to file the proper paperwork. To do otherwise would allow the borrower/lessee to sell the leased property and leave you without recourse against the third-party purchaser. If you have a perfected lien or lease, then you can get your cattle or money from the third-party purchaser (typically sale barns). Selling leased property or mortgaged property is also still a crime typically called hindering a secured creditor.[/quote]

Wouldn't the OP here qualify as a secured creditor because of the signed agreemwnt or did he need to have a lein on file ?[/quote]

The contract of the OP did not have a "granting" clause in it which gave him a lien. Thus, there was not a lien granted. But more importantly a UCC financing statement was never filed. This leaves him as an unpaid selller of goods. An unpaid seller of goods has a security interest in the cattle under the Code; but he is not perfected.

Once the bankruptcy is file, then the security interest is worthless. It will be interesting to see what happens in that he has a statutory unperfected security interest in cattle that were sold "possibly" out of trust. Had a UCC financing statement been filed; then it would be clearly illegal. Here, he has an unperfected statutory lien. Some places will prosecute and some will not. It will be interesting to see how it works out in this case.

 

[TexasBred]

Stories like this make my blood boil!!!! @ss hats like this make it hard for young guys like me to getting started. Older timers wont help any of us ecause they have been burned time and time again.

Sad but true young man and very unfortunate for those that would be good credit risks and good operators especially during a time when banks are reluctant to loan money even to the well qualified.

 

[High Cotton]

If it wasn't for the family I have been working for there would be no way I could ever get decent start. I'm thankful for them to take the time to teach me things and any and all hand me downs I'm given.

 

[2barmcattle]

Getting a bit deep now but, I will say. Thank You Bonsman!! AND Thank You TSCRA. Took a turn in a bit more positive direction.

 

[TexasBred]

Getting a bit deep now but, I will say. Thank You Bonsman!! AND Thank You TSCRA. Took a turn in a bit more positive direction.

The perils of "finance" are deep, that's why most people leave it to the bank or retain an attorney to make sure everything is in order if they are financing themselves.

 

[2barmcattle]

Getting a bit deep now but, I will say. Thank You Bonsman!! AND Thank You TSCRA. Took a turn in a bit more positive direction.

The perils of "finance" are deep, that's why most people leave it to the bank or retain an attorney to make sure everything is in order if they are financing themselves.

AMEN!! Lesson learned.

I was told of a HOA (Hearing on Assets) I can file on this guy. Anyone know about that?

 

[Bonsman]

Getting a bit deep now but, I will say. Thank You Bonsman!! AND Thank You TSCRA. Took a turn in a bit more positive direction.

The perils of "finance" are deep, that's why most people leave it to the bank or retain an attorney to make sure everything is in order if they are financing themselves.

AMEN!! Lesson learned.

I was told of a HOA (Hearing on Assets) I can file on this guy. Anyone know about that?

You must have a judgment before you can have the HOH. You will get a chance to do pretty much the same thing at the 341 first meeting of creditors if he files a bankruptcy. I have been so busy I have not had a chance to look him up to see if he has filed. I will try to do it soon.

 

[MF135]

Stories like this make my blood boil!!!! @ss hats like this make it hard for young guys like me to getting started. Older timers wont help any of us ecause they have been burned time and time again.

Sad but true young man and very unfortunate for those that would be good credit risks and good operators especially during a time when banks are reluctant to loan money even to the well qualified.

If your bank is reluctant, then I suggest you go to your local Farm Service Agency and ask them about the Beginning Farmer/Rancher loan. I just financed a little over 18k at 1.75% (yes that say one and three quarter percent) with annual payments of less than 3k for 7yrs. Thats less than $400 annual interest per 20k borrowed. :banana:

 

[ALACOWMAN]

This is what is wrong with our country. This guy is a scammer, you don't need a lawyer just knock his teeth down his throat. Figure his pattern out, pepper spray his eyes so he can't ID you, take a piece of pipe steel is the best jam it down his throat and when your finished wipe the pipe with bleach and throw it in the creek. Don't admit to nothing, and get a trial by jury if... you get served, most of the time it will be insufficient evidence. The cops and the DA hate thieves also.

Wow and I thought Charles Manson was sick.

manson would just talk somebody else into doing it for him

 

[2barmcattle]

This KID did this 4 times it turns out. Got a call from an investigator today. He hit 2 different people with bucking cattle and 2 different people with Longhorn show cattle. Some got their cattle back and some didn't. They put him in jail in June and he bonded out. They are putting him back in jail on the 2 counts that just surfaced. Prob bond out again. What a little PUNK!!!!