ok a friend bought a bike with my help i am the primary on the loan and title he is the co owner and co signer on teh loan. teh loan was for 14.6k and 10.9k left on it he has put like 4k in aftermarket harley stuff on it. the problem is he has made late payments on it several times i told him i am trying to buy a house and he is screwing up my credit. this is the 4th or 5th time he has let the payments go over 50 days other wise he is a week late or so. well i finnaly took possesion of the bike (in a legal way) he was in jail for violateing a protective order against his ex. anyways he had an accident and totaled his truck and has nothign to drive and needs to get to work he wants to sign a contract stateing if he makes one more late payment that he forfits the bike to me and its mine to do what i want but im not sure how legal a contract like that would be. also teh original agreement was for both of us to get a new bike which never happened. him and i have been freiends for a long time but i don't know what to do i was gonna give him my older sportster as payment for the extras and teh money he payed on the bike to be fair but he dosent want to do that he just wants the bike back but there is nothing he can do its all up to me i can afford the payments. so do i give him the bike back with a contract, keep it, or give it back to harley
