I need help with Ford Credit...

I have dealt with Ford Motor Credit and they will take your vehicle of the $840.00 is not received by their deadline. Making a partial payment to FMC will not stop them from taking the vehicle. They are one of the most worthless credit companies there is. When I seen we were going to be late on our payment back when we had my van financed through them in 1999, I called them and told FMC the situation and they kindly stated it didn't matter, they loaned us the money on the vehicle and they had no problem taking the vehicle for payment. Which they did get the vehicle back when we filed bankruptcy and refused to reaffirm. They might have changed by now, but I wouldn't bet my last dime on it.

I don't think they've changed. I had a car financed through them 3 years ago and anytime I was late at all they would call and call. Which is understandable, after all I was late, but they were really nasty about it, and wouldn't accept partial payments from me either.

Unfortunately, there is no good answer. At any time a contract is in default, a lender is allowed to remedy the default by reposessing the chattel. Since they are under no obligation to accept partial payments, it is legal for them to demand the full past-due balance.

However, reposession is not good for either party. On the lender's side, very rarely can they sell the car for as much as you owe, and so they will still take a loss even after the reposess it.

For that reason, it is also in the lender's best interest to let you keep the car and keep making payments. You may have spoken to a collector who is paid a commission based on their results, and obviously they would want you to pay more so they could get a better paycheck. It is hard to tell if those were just threats, or promises...

Another thing, most lenders will not reposess the vehicle if it is aged less than 30 days. In your case, being 50 days past due -- making a single payment would put your account only 20 days past-due. To me, and most lenders, that is not grounds for a repo. But, like I said above, they could if they really wanted to.

Your best bet may be to call and ask for either the collection manager or the credit manager. If the other lady was just making false threats, an actual manager may be able to accept the partial payment with arrangements on the rest.

I am really concerned about this, because I will be making a payment, which is more than no payment. I think that I will probably wait and make a payment on Friday of $400 call them with the reference # that they want and beg for forgiveness. I can put the car away for a week until I can come up with the rest of the money, but I just didn't want my husband to know what was going... I am still open for suggestions and ideas...

I had a 2001 F150 thru FMC and I got behind a couple of times. I was even 60 days past due a couple of times. Anyways, I always kept in contact with them and they worked with me.Twice, they offered to roll the late payment to the end of te loan. You might ask if they will roll a payment. If they say no, then hang up and call again. Someone will work with you. It's not in their best interest to repo the vehicle because they lose money. Play hard but be nice and keep going up the ladder with them.

That's another good idea guest, that I forgot about. Extenstion agreement is the offical term for it. In an extension they usually get you to pay just the interest for the month, and then they take the missed payment and move it to the end of the loan. Since you are two down, you might suggest to them that you make one full payment and extend the remaining payment.

But how about if I just did an extension in January and then made a payment in February. Do you think that if I make at least one payment to catch up, they can still repo? I will try to get a supervisor, but sometimes they say that they are when they are not. How can I find out if they are?
Sorry for the so many questions.

Only problem with an extension is that it raises the amount you owe in the vehicle and it accumulates interest. I agree with the others that it isn't in their best interest to repo, but FMC is famous for this.

Yeah, I know. Thats what I am afraid of....I will keep checking with you guys and praying to see if I get a nice person when I call them on Friday to tell them that I only was able to come up with one month's payment and they feel sorry and give me a chance to make up the other one somehow.

I'm trying to see if ford will erase a late pymt which aged as 30 days late (they offered me an extension, but it was mistake that my acct was already 30 days late when they approved the extension) I have always been current with the payments, except this one time. This is a bad stain on my credit report. and I am continually pleading with ford to please forgive me for this one-time late pymt and erase it (In goodwill) from my credit report, I know they can do this for me if they really want to. I have begged & pleaded with them, still to no avail, I refuse to give up. Any suggestions?????

Irhall, Ford Credit will allow you three extensions per year before they start repossesion. You just have to get the right person. KYSIDE38