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1 year back, my friend took a $25,000 loan from me. As a collateral, I have a lien on his car - the car was only worth $20,000 that time. He agreed to pay me $500 a month for 5 years in order to repay the loan. He paid me on time for the first 8 months but has not paid anything since the last 4 months. I do not think he has many other assets but he has a good job. Is there anything more I can do than just take the car (car is worth less than what he owes me). Will this default reflect on his credit history?