You got the bag for a steal because of the handles. To properly fix them, it's going to cost a few hundred if you go through Lovin My bags.
Other than her, I don't know anyone else who would do it. If you're in NY, you can try ArtBag - but they're probably more expensive than Lovin My Bags and I know from firsthand experience, they don't like working on Bal moto bags.
I have considered it on a bag I have with dark handles, but something about a twilly on a Bal moto rubs me the wrong way. I think it loses a lot of that "moto" feel.
But, I have read here that some do.
Thanks ladies! The rest of the bag looked great, just needed to be cleaned and conditioned so I took a chance. I thought about a twilly but wasn't really sure. I saw these handle covers on etsy that you can get in colors so that may work.
I had the same issue with a pre loved Part Time black bag. Handles were in bad shape and the cobbler I go to who restores leather said he couldn't really repair it. I purchased two twilly scarves on Amazon and they actually look really cool. I got something subtle, black with some pink and yellow running through them. They blend nicely with the bag and give it a small pop of color.