Can I file and estafa case?

Good day! Bumili po ako nang bigbike worth P120k sa kapitbahay kong nagbebenta nang motor nung Jan 22, 2011. I issued a chek to his name but wala yung papers sa akin since pinaayos ko na rin yung transfer nang name sa akin. After 1 week, sinauli ko yung bike since natakot ako sa bilis(400cc). I didn't right away ask the money back, pero ang ginawa ko pinabenta ko sa kanya since nag bu buy and sell sya nang bike. After a week sabi nya may buyer, MMDA daw gagawin isa sa mga fleet nila but he's in a lock-in contract na kailangan nya mag produce nang ten bikes sa MMDA bago magbayaran. Sabi ko basta mabalik agad sa akin yung money. sabi nya baka 1 wk daw of at the most end of Jan. Dumating end of january, wala pa rin, then nagpromise say almost every wk na parating na raw. I finally asked him to sign a consignment agreement na nasa kanya yung bike and also a certificate of receipt na i paid for the bike with the check number included. Nagbarangay na kami and he promised to pay in installment. i asked for the Contract sa MMDA e wala daw since may patong yung MMDA at ayaw nila mag issue contract. Until now wala pa binibigay sa akin money or contract from the MMDA. A policeman friend advised me na wag na magbaranggay since more than 100k deretso na ko sa CID. Ano po pwede ko gawin since lagi sinasabi nya, hindi sya madedemanda cos may intensyon namn to pay. Please help. thanks in advance

where is the bike now?

He said the bike is with the MMDA, but he can't produce the contract. He said its in their "contract" that he'll produce 10 bikes before the payout. Unfortunately he can't produce any, meron daw 3 bikes from Japan na nasama sa "tsunami". Nagbaranggay kami and he's offering me settlement in terms to pay for the bike, but he doesnt want to give any solid "collateral", gusto nya promissory note lang he has a 1000cc bike and a car na kinukuha ko atleast yung papers lang as collateral but he doesnt want to give any. He's claiming bankrupt daw sya but nagbakasyon sila sa iloilo and pina setup yung sounds na car nya. He said bayaran din nya in full if nabenta yung 1000cc bike nya. I saw the other day na may iba na sya bike, kala ko nabenta na and mabayaran na ko, sabi nya sinauli daw nya yung bike(1000cc) since may problems sa papers. I told him im only agreeing sa terms payment cos kapit bahay ko sya. Ano po ba pwede ko gawin sa kanya? pwede ba ko magdemand na cash outright or else pakulong ko sya? what kaso? he's claiming na kahit naman magdemandahan kami, settlement din bagsak namin, cos he keeps on saying he's bankrupt. please help. Thanks!

btw, he said wala contract binigay sa kanya MMDA cos malaki pinatong ng MMDA and ayaw magbigay contract, baka daw mabuko sila.

you can serve a demand letter for return of the bike or return of the cash, and if he fails you can file a complaint of estafa

Thanks for the prompt response! I just have several questions though.
1) Is there a time frame required for him to return the bike or cash or i can file a complain the day a give him the demand letter?
2) He is asking to pay in terms, and offering a promisory note which i certainly would not accept since he has been promising since february and has not given me anything, and he's claiming "bankruptcy". Is it okay to refuse and be firm on my demand, or will the court be favoring him since he claims he has no money to pay and that his car, house and the big bike he owns is not in his name?
3. If I file an estafa case, what will happen? can i have him arrested? how long will the trial normally take and do i have a strong chance of winning the case?
Thanks in advance and more power

1-2 is all based on your willingness to accept his terms.

you have to file a complaint at the prosecutor's office. only after a finding that he should be held for trial will the case be filed in court.

Thanks ATTYLL!