| Message |
Author |
 Posted: Sun Jun 15, 2008 5:40 am Subject: Auto loan with AmeriCredit |
|
|
i have an auto loan with americredit, and it now 30 days late, how long do i have before they take my car?
|
|
mandymyr
Joined: 30 Apr 2008
Posts: 14
Debtcc Points: 230
|
|
|
| Posted: Sun Jun 15, 2008 6:52 am Subject: |
|
|
Donkt wait to find out mandymyr! If you are sure of loosing it just do not do nothing. Call them, if not already and let them know something. If you have been behind already for over 30 days I am surprised you still have it. Now is the time to act, do something. Call them.
_________________
"It only takes a second to do something that you will regret for the rest of your life."
All the Best,
Luke
|
|
Lukeskywalker
Joined: 19 May 2007
Posts: 1835
Debtcc Points: 15898
|
|
|
| Posted: Sun Jun 15, 2008 7:33 am Subject: |
|
|
Luke is right get ahold of them and try to work something out. The last thing that you need is to have your car repossessed (sp?). That has happened to me and I was 60 days late, but quickly got it back after having to borrow the money from my grandmother.
|
|
ladybug
Joined: 29 May 2007
Posts: 2642
Debtcc Points: 24350
|
|
|
| Posted: Sun Jun 15, 2008 8:49 am Subject: |
|
|
I have my car with them and they are very easy to work with, very nice...Please don't wait, call them they will help you. They also have a hardship program ask about that..
|
|
lmale
Joined: 28 Mar 2008
Posts: 434
Debtcc Points: 3397
|
|
|
| Posted: Sun Jun 15, 2008 9:16 am Subject: |
|
|
I hope they red all of this in time
_________________
"It only takes a second to do something that you will regret for the rest of your life."
All the Best,
Luke
|
|
Lukeskywalker
Joined: 19 May 2007
Posts: 1835
Debtcc Points: 15898
|
|
|
| Posted: Sun Jun 15, 2008 11:12 pm Subject: |
|
|
As the other posters have suggested, you should've called your creditor by now. Normally, the creditor isn't required to give any notice before repossessing the car.
The repossessing of the vehicle, doesn't free you from the written contract of repaying the loan. Even after the repossession, you're required to pay the lender in full to get the vehicle back. Also if the lender has to sell the car for less than what is owed by you, he can pursue you to repay the remaining amount.
|
|
tweetyturner
Joined: 11 Mar 2008
Posts: 279
Debtcc Points: 3264
|
|
|
| Posted: Fri Jun 20, 2008 7:54 am Subject: |
|
|
| Quote: | | I have my car with them and they are very easy to work with, very nice...Please don't wait, call them they will help you. They also have a hardship program ask about that.. |
Wonder if it the same Americredit I have? they are jerks, egotistical, think they are above the laws and feel they have every right to control every aspect of my life over their debt.
Unless their policy has changed, at 60 days you'll receive the notice of their right and intention to repossess if the debt isn't brought current, usually within an additional 30 days. So essentially you have about 90 days. If you are too far behind, you can ask them about a hardship deferral. They do a limited number of these a month, but basically you pay the interest charges (about 50% of your normal payment) and they will defer the payments for the agreed amount of time ( I think about two months max) until the end of the contract. Usually they will ask for more references they can call and harass if you are late on your payments ( and yes they will call the people you list as references to collect from you).
_________________
Experience is something you don't get until just after you need it.
|
|
LCW
Moderator
Joined: 05 Sep 2005
Posts: 1164
Debtcc Points: 21284
|
|
|
