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 Posted: Sat Feb 09, 2008 12:41 pm Subject: Repossessed Auto |
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they repossessed my car after calling me the other night to make payment arrangements; what can i do?
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julrich2
Joined: 09 Feb 2008
Posts: 4
Debtcc Points: 197
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| Posted: Sat Feb 09, 2008 12:50 pm Subject: |
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Did you make a payment or just make arrangements to pay?
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mommontoya
Joined: 21 Jun 2006
Posts: 478
Debtcc Points: 4267
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| Posted: Sat Feb 09, 2008 1:28 pm Subject: Repossession |
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When I talked with the person at the finance company she told me that if I could make a payment they could process a deferment as I am eligible for one at this point. I had spoken with them several times due to the fact that I was out of work for three months and am a single mother with four daughters. I am now stuck with no vehicle, my credit is ruined because of my ex husband refusing to cooperate on a mortgage loan when he left our marriage suddenly...now this happened. I don't know what to do; no way to get to work...or anywhere and with four kids...I'm in a total bind. There is no way I can pay the loan completely current but did tell them I planned on paying it as soon as my tax return is deposited. They didn't care or try to help in any way...
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julrich2
Joined: 09 Feb 2008
Posts: 4
Debtcc Points: 197
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| Posted: Sat Feb 09, 2008 1:52 pm Subject: Repo |
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I found this for you:
| Quote: | | You can "redeem" the property by offering the creditor the entire unpaid balance on the debt, plus any expenses reasonably caused by the repossession. You must do this before the creditor has disposed of or sold the property or has signed an agreement to do so. Usually you cannot redeem just by paying the amount in arrears unless the creditor approves it. Many credit unions will allow this but generally speaking, once a creditor has the car in their grips, they will not give it back unless you pay it off. Why would they want to chance it again? |
I found it thru a search on legal issues.
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girlndebt
Joined: 15 Dec 2007
Posts: 103
Debtcc Points: 5189
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| Posted: Sat Feb 09, 2008 1:52 pm Subject: |
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Oh Dear
I'm sorry you were put in this position. Will your X help at all? After all these are his kids too. I'm sure someone will be around with better advice then me
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mommontoya
Joined: 21 Jun 2006
Posts: 478
Debtcc Points: 4267
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| Posted: Sat Feb 09, 2008 2:03 pm Subject: Repossession |
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My ex husband is not the father of my four daughters; their father has not seen them in eight years. My ex who caused me to lose my home has not spoken to me since he left suddenly in June 2005. His actions caused my credit problems to start with; the reason I had to finance with this company at a very high interest rate.
I did tell the finance company that I would bring the balance current and that my tax refund was being processed in order that I could do this. Apparently this did not matter...nor the fact that I can't work to make payments if I have no vehicle. So I am at a loss. I have been making payments in earnest all along, but got behind because I had to pay a $400 deposit to have my heat turned on in this rental property.
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julrich2
Joined: 09 Feb 2008
Posts: 4
Debtcc Points: 197
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| Posted: Sun Feb 10, 2008 1:19 am Subject: |
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Depending on how much your tax return is, you might try to pay cash for beater when you get it. This will solve your short term problem with transportation with no debt so you can later deal with the repo problem. If this is viable, have a friend you trust help you find a good car.
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Guest
Debtcc Points: 100
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| Posted: Sun Feb 10, 2008 6:15 am Subject: Relationships |
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Thanks for your insight, but I have not been involved with anyone for over three years now since my ex left. It was an initial thing where he was thrilled to have my daughters in his life, then decided he did not want the responsibility of a family out of the blue. I have single-handedly raised four daughters basically alone; no small task. Every one of them is an honor student; my oldest graduated early this past month. I have plenty of wisdom at this point; it is unfortunate that their father chose a life consumed with alcohol rather than a fulfilling family life. My place was to protect my children and end that cycle which began with his father. That is why I am here.
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julrich2
Joined: 09 Feb 2008
Posts: 4
Debtcc Points: 197
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| Posted: Sun Feb 10, 2008 7:21 am Subject: |
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I commend you julrich on being able to get through this and keep your head above water. I know the feeling of what you have been through. It is hard but over time you shall get through.
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rmartin33771
Joined: 08 Feb 2008
Posts: 15
Debtcc Points: 408
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| Posted: Sun Feb 10, 2008 7:32 am Subject: |
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Guest, I think your comment was uncalled for and does not relate to the issue at hand. If you have nothing nice to say, say nothing at all.
julrich, please do not let the guest's comments get to you and please don't think we are all like that here. The members of debtcc are not here to judge, we are here to help.
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Sassnlucy
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| Posted: Sat Feb 16, 2008 2:44 am Subject: |
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I totally agree with Sass!!!!You will find so many nice people on this site..you can hopefully overlook the negs who are here trolling for collectors! glad I got sweet sassy in my corner!!!
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socksfullofrocks
Joined: 14 Dec 2007
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