Archive for the ‘rv loan’ Category
I purchased an rv from a so called friend a few years back. (It's in storage now) When I paid it off she signed the wrong last name on the title (married name was what she signed but title was in her unmarried name) Unfortunatly I did not catch it until it was too late. I contacted the DMV and they said to have her fill out an affadavit of name change which I could not for the life of me get ahold of her to do. (The trailer was in fact legally hers) SO the dmv had me do what is called a 3 year registration with ownership in doubt. After 3 years I can get my official title.
I either need to sell this rv or use it as collateral on a loan.
Can I?
I can not locate this individual. The DMV does not have current contact info for her either. The last address they have on file for her lists her as one of my neighbors. She moved out of that park several years ago.
Have her go and ask for a copy of the title at your cost, maybe 25.00. Then when she gets it have her sign the correct name
we want to buy a existing rv park in the future, must we wait till we find the exact park we want to buy before creating a business plan for a sba loan?
As someone who used to work for an SBDC ( http://www.sba.gov/sbdc/ ) let me tell you what you should do, if I may. Write what you can now and then fill in the rest when you know which park you want.
Your B-Plan will consist roughly of the following sections:
1 - Executive Summary
—–
2 - Introduction
>>>Business Desription
>>>Business HIstory
>>>Future Plans and Goals for 3 years
—–
3 - Marketing
>>>Major Goals and Objectives
>>>Products/Services
>>>Target Market
>>>Place of Business
>>>Price Information
>>>Promotion
>>>Competition
~~~Begin writing the sections that you now have the ability to write. Even though you do not have an exact park, things such as prices, promo, target market can be researched and desrciptions can be written. If you know a general area where you would like to purchase, begin compiling a list of all RV parks, their websites and research on each one.
—–
4 - Management
>>>Goals and Objectives
>>>Personnel
>>>Oranizational Structure
>>>Human Resources Management
>>>Policies
>>>Insurance
>>>Legal
~~~Much of this section can be written now. It is the MOST IMPORTANT section of your business plan. This is where you stress every detail of your management skills, all history managing anything in your previous work experience and the amount managed. (both in quantity of dollars and people)
Who will be resposiblefor what functions?
What wage/salary structure?
List all of insurances.
What legal strucute? LLC…, licenses, trademarks…
Some of this will, of course, come with the existing park, but it is good to familiarize yourself with them now.
—–
5 - Financial Information
>>>Start-Up cost
>>>Equity & Collateral
>>>Projected Cash Flow
>>>Pro forma Income Statement
>>>Pro forma Balance Sheet
>>>Ratio Analysis
~~~Obviously, this will be specific to the one you buy. However, it is good to get cost estimates so that you can start formualting general numbers. Decide how much of your own money you will be willing to put up.
Go to the local library and get the RMA Annual Statement Studies. You will find average financial statements for RV parks. You will probably need the business librarian to help you if you are not familiar with them. Bankers will have this information. They will know if your financial data looks screwy.
—–
Contatc RV Park Associations
Go to the local offices of these for free trustworthy help:
http://www.score.org/
http://www.sba.gov/sbdc/
Yes, it is a pain in the behind. But the earlier you start, the easier it will be.
Good Luck
.
I was co-signer on an rv with boyfriend. we seperated and he wanted rv stating he would refinance to take my name off loan.Now I find out rv was repossed, and my name never was removed. Now he has claimed bankruptcy. Finally my question is -If rv was claimed on his bankruptcy, am I still liable for any $$ on it since I was co-signer???. Or am I cleared now since he put it on the claim?
Hi!
I think the easiest way to deal with this is to pull all three credit reports of yours and see if it is on there. Now…how long ago was this? have you checked to see the statute of limitations of your state for debts like this? I would. Do a web search on statute of limitations debt and find out first:
1) How they would classify this (there are four different classifications of debt)
2) Once you know how it is classified..you should be ale to easily find a table that will tell you-by state-what the statute of limitations is for this.
You might also want to check and see how your state views co-signers..that may differ as well. I have always heard that the cosigner is just as responsible as the primary signer for the debt..but it may be different depending on different state laws.
One more thing: The statute of limitations only covers if or if not whoever buys the debt can really sue you in court….it has nothing to do with the credit bureaus removing lines on your reports.
They still can legally pursue collections..as long as they follow the Fair Debt Collections Practices Act. If they don't..you have many other options to report them….and perhaps even sue them.
Ok I just started selling those starter Interrupt devices and it's been difficult finding the right people to sell to.Does anyone currently work with such devices or have a network of dealers and lenders that are interested.They secure sub prime loans in Auto,Boats RV's they are also anti theft devices.The company I work for is small are there prices are much cheaper than the big name companies but it's getting info out to the decision makers have been difficult .If anyone has a suggestion or help I'll apprciate it .
Tote the note lots would be my first stop. Anyone who self finances their cars has a vested interest in knowing that they can recover them if need be.
If your system can be monitered via the internet and the vehicle can be located and disabled I would think it would be a big seller to the note lots.
All credit cards, RV and car loan are in my name along with the house. Both salaries are idenitical.
The house will be approximately 50% of my income before taxes. I plan on keeping the house.
My car is paid off.
If you include the RV payment and credit card payments, that will exceed my monthly income. If you include 50% of the payments, then I only have $300 left to live off of per month.
When I do the means test, my monthly income exceeds Chapter 7 limitations. Will I still get to keep the house? How will all of this work?
If you can work with your soon to be ex wife you might come out pretty good, otherwise it’s generally 50/50 split, regardless of who’s name it’s in. Unless it’s in another name other than yours or ex wife
My mom is permantly disabled but never qualified for social security, she lives off my dad social security. they live in an rv as they have little to no income. My dad has a bank account (my mom is not on it) can my moms creditors seize his bank account (1 student loan and various credit cards etc..)
No, creditors should not seize the account. Although when you marry someone you assume their debt, you mom is not on the acocunt. These laws vary from state to state though. The account that your father uses would contain your Dad's social security income which is considered public assistance (governmant money) it is illegal to touch that money. If this becomes a problem then your family may have ground for a lawsuit. If you are interested in protecting your family's financial and legal identity, I have some thing that may help assist with any legal questions or situations in the future. Please go to my website @ www.prepaidlegal.com/hub/kvmclish to see a presentation or call 1-800-394-6919 listen and let me know what you think. I would love your feed back! Please e-mail me back @ k_mclish@yahoo.com and I will be glad to answer any questions you may have. At that point, if you are open to it, we may exchange numbers. Hope this helps!!!
~Karen
I am 17 years old and, after I graduate college, I would like to start my own business. Since I was little, I have had a passion for touring coaches and RVs. I was thinking that, in the future, I would like to start my own RV dealership and, after that, my own touring coach company. But I have a few questions. For the RV dealership: Since I would be selling many expensive RVs, would I buy then sell or would I sell based on a commission (getting a percentage of the profit)? I know there is a large RV dealership a few hours from my house, called the Hitch House, that sells only high end motor homes, between $75-$700, 000. Would they sell based on commission or buy-and-sell? The Touring Coach: How do touring coach companies start? Do they have to take out a loan first to buy the coaches?
These are the types of coaches and RVs I want to be working with:
http://www.new.facebook.com/photo.php?pid=793532&l=9e561&id=510547503
http://www.new.facebook.com/photo.php?pid=793533&l=fe5df&id=510547503
http://www.new.facebook.com/photo.php?pid=793543&l=80d2d&id=510547503
http://www.new.facebook.com/photo.php?pid=793460&l=102f3&id=510547503
http://www.new.facebook.com/photo.php?pid=793375&l=534fc&id=510547503
http://www.new.facebook.com/photo.php?pid=793193&l=76322&id=510547503
http://www.new.facebook.com/photo.php?pid=793548&l=5e6fa&id=510547503
http://www.new.facebook.com/photo.php?pid=792991&l=21a7d&id=510547503
the best thing you can do is work as a salesperson for an existing dealership. this will give you the opportunity to get an inside look at the industry and answer all of those questions youre asking.
My STBX and I have a RV loan, car loan and credit cards that are only in my name. We acquired these during the marriage. The house is in my name and we are upside down on the house. I cannot afford to make the payments on the house as well as the rest of the debt.
The Marriage Settlement Agreeement states that I will be the person solely responsible for this debt and I hold the STBX harmless.
When I file Ch 7 to discharge the RV loan, car loan and credit cards, can they still go after her amnd hold her liable? Even though the MSA says that I am the resposible party and the debt is in my name only?
We reside in the state of CA
What prompted you to agree to her being off the hook in your marriage settlement agreement? Did you have an attorney? Sounds like she did… To answer your question, I don’t know. My guess is they will come after you first since your name is on the loans. The ex second and she will of course wave that piece of paper at them. My guess is she is off the hook and you’re a paddle short on the creek.
my employer is also my landlord. i live in a small rv park. he fixed the window in trailer and took $28 out of my check for it. i supposely own the trailer. he sold it to me months ago for $5. he had me sign a paper thats says the trailer is mine but he never gave me a copy. i would like to now if that is against the law. my co0workers at work said he cant take any money out of ur check except if it is a loan.
ok the trailer is lfrom the 70's i think. it has wheels. when i first moved in here the trailer was worn down. the rentals lwas in Fl says he has to keep in good repair. when he found ou i got pics of what the inside looks likes and was going to get some action he sold me the trailer. by the way i am 40 years old.
ok i think u should also know this about the trailers in the park the ones that he owns he doesnt have any titles for them.
They can only deduct for things that are a legal obligation such as a garnnishment or for other things that you have agreed to. Report him to your local department of labor.
The land 330' X 330' is well improved! It has a fully livable OLD mobile home, with full utilities included. It is fully fenced. It has a seperate area with RV hook-ups. A carport. 3 Work sheds. An outdoor cooking shack (screened 4' up). Groomed landscape. Fruit trees and fruit vines. Plus, many other amenities, including being close to town (for a country residence 2 0r 3 miles). Also, it's a corner lot! Anyway, the banks are giving me trouble because (in my opinion) recently many people have went beyond their means and so many forclosuers have made the lenders bankrupt or caucious. I personally have mostly paid cash for things/rarely live beyond any kind of needs and can pay this off, even at 29% interest in 2 or 3 years and I need the good credit refection. Plus, some time in a garden (which this place is set up for) would do wonders for my sanity. Also, I drive a semi-truck and geographically it is perfect with regards to my trade! The lots next door unimproved are going for 15000!
Check with a loan officer in OK.