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 Posted: Wed Aug 10, 2005 7:18 am Subject: Repossessed Vehicle |
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I had a car repossessed and I had a co-signer on it. I was considering filing a chapter 7 bankruptcy but wasn't sure how this would effect my co-signer. I was told it would but in another case I was told as long as I make my attorney aware of it they could not bother my co-signer. Can someone tell me the correct information?
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mdgirl
Guest
Debtcc Points: 100
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| Posted: Wed Aug 10, 2005 7:24 am Subject: |
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Most bankruptcy attorneys have a free consultation I would find one in your local area and call them.
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vwh
Joined: 22 Jul 2005
Posts: 134
Debtcc Points: 5762
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| Posted: Wed Aug 10, 2005 11:30 am Subject: |
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When my car was repo'd, it didn't effect my co-signer, however filing bankruptcy might be different.
By the way, when you are ready to seek out a new car, you can do what I did: I went on cheapcarfinder.com...you register and they give you a list of reposessed cars. You can purchase a car VERY cheap that way. You bid on a car (starting anywhere from $100-$1000 depending on the car make & model), and if you have the highest bid, the car is yours as is. Pretty neat!
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Lindsey
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Joined: 02 Aug 2005
Posts: 363
Debtcc Points: 14627
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| Posted: Thu Aug 25, 2005 4:48 pm Subject: |
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I wish I would have known about the cheapcarfinder site before i got into another car payment trap. It sounds pretty cool! I will still look at the site for my husband. He is need of a car bad!!!!! thanks Lindsey
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Rhonda28
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Joined: 24 Aug 2005
Posts: 433
Debtcc Points: 16733
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| Posted: Fri Aug 26, 2005 10:23 am Subject: |
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You're very welcome, RYM!
They will even deliver the car to your house and you get a CarFax report!
It almost sounded TOO good...but they're right...very few people really know that you can buy repo'd cars very cheap. They get the cars for free basically from delinquency and then when they auction them off, they make free money...so they're not losing anything by auctioning a $20,000 car off for only $400. And you get a nice car for a bargain 
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Lindsey
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Joined: 02 Aug 2005
Posts: 363
Debtcc Points: 14627
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| Posted: Fri Aug 26, 2005 5:33 pm Subject: |
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Lindsey,
I went on the site last night. I am currently having my husband look into it. I ended up financing a car again because i had a 95 civic that kept breaking down. I hate making the payment every month but I do it anyway since I dont need a 3rd repo on my credit. If you find any other types of site like that let me know! I see that you are very knowledgeable at a very young age! Kudos to you!!!
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Rhonda28
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Joined: 24 Aug 2005
Posts: 433
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| Posted: Tue Aug 30, 2005 8:09 am Subject: |
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Best of luck to you and your husband, Rhonda! I'm so happy I could help you! Let me know if you successfully find a good car
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Lindsey
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Posts: 363
Debtcc Points: 14627
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| Posted: Tue Sep 13, 2005 8:24 pm Subject: |
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wow that really works?? I always thought it was a scam....glad it worked for you , I might consider it...
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LCW
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Joined: 05 Sep 2005
Posts: 1161
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| Posted: Tue Sep 27, 2005 8:31 am Subject: |
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I seemed like a scam, but it's real. I was the guinea pig 
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Lindsey
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Posts: 363
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| Posted: Tue Sep 27, 2005 4:25 pm Subject: |
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Lindsey,
What kind of car did you get on this site, if you dont mind me asking?
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Rhonda28
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Posts: 433
Debtcc Points: 16733
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