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ladyt710 · Posted: Wed Jun 11, 2008 4:28 pm Subject: reposession of car!!!

My auto finance company has threatened to reposess my car if I did not get my account up to date by June 13, 2008. They want May payment, which i mailed in,but they say they did not receive it, and June's payment which was due on the 3rd. I have placed a tracer on my money order but that could take up to 30 days. I do not have the money for two payments right now. Any advice?

Posted: Wed Jun 11, 2008 4:36 pm Subject:

I am sorry to hear that you are having financial difficulties. If you have no other options of getting money to pay your finance company to keep them from repossessing the car you could possibly get an internet pay day loan to pay the car loan up to date. Man I never thought there would ever be a day when i would suggest getting a pay day loan . I feel dirty now. Sad

IF YOU GET A INTERNET PAY DAY LOAN PLEASE PAY IT OFF ASAP. I DON`T WANT YOU TO GET INTO THAT TRAP.

ladyt710 · Posted: Wed Jun 11, 2008 5:02 pm Subject: repo

I am already in that payday loan trap. Due to other debt that I have, I considered bankruptcy. However, I am trying to keep my car and really don't want to file bankruptcy. I owe 5785 and its worth about 4400.

Posted: Wed Jun 11, 2008 5:04 pm Subject:

Can you explain all of the other debts you have so i can perhaps offer some better advice ?

How many PDLs do you have and are they internet or local pay day loans ?

Posted: Wed Jun 11, 2008 5:42 pm Subject:

What a bummer! Has it been long enough to assume the payment is lost in the mail? I don't think they're lying about not receiving it - they would much rather post the payment than call you for it.
Do you have a MO receipt that you could fax to them? They might ease up if they know you're not lying.

Legally, they could repo the car if they haven't actually received the payment. Realistically, finance companies don't like to have to repo, and they usually do it only as a last resort.

But their collectors do have goals to meet; their goal is for you to be current -- and that means they need two payments. They will likely pressure you with the threat of repossession in order to meet their goal.

While they threaten, they usually won't do it until an account is at least 60 days past due. So I think you are safe for a little while. But like I said earlier, if you can fax a copy of the MO, that will buy you some time. You should also try to get that June payment to them, which would be due regardless of the mail.

Posted: Fri Jun 13, 2008 5:26 am Subject:

I agree about sending them a copy of the mo receipt. If they actually see this, they may work with you a bit more. It does take a while to trace a money order. Also, you might want to check to see if the money order has been cashed. There should be a number or an email address on the MO receipt. You can call the company and tell them the MO number and they can let you know whether or not it was cashed and when or if there is a website, you can look there also and if by chance it was cashed, you can request a copy of the cashed MO.

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reposession of car!!!

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