Trying to give back a car before reposession starts

Voluntary repo which is giving the vehicle back, isnt much better than an involuntary repo. Either way you will end up owing a deficiency balance.

:mad::(Thank-you Ms.Soaplady. If my research is valid...giving it back or waiting is still the same...the creditor will wholesale the vehicle..proly for less than blue-book..then come after me/us for the remaining balance. Maybe it is really time to consider bankruptcy. I was really looking to do debt-settlement, but with the car issue, it may be my only choice. Thanks again

About the only benefit to giving it back, in this case, would be that you avoid the creditor tacking repo charges on to the deficiency balance.

Unclewolf..Regarding your four NO's regarding collectors.can't quite figure out what validation is..s'plain please, Ricky! Thank's, Lisa

Evenin' Lisa -

When you have a debt that gets charged off and goes to a collection agency, they start calling and generally giving you hell about it. Many (most?) of these places will add on all manner of fees and interest, when they're not allowed to. A bunch will try to force your hand, or take you to court without having all the documentation they're supposed to have. Some just don't care about the documentation, or even whether it's your debt or not. They've got your name, an amount, and your phone number, so they figure you owe them something.

Validation is the process of protecting your legal rights by forcing a collector to prove his case before you pay him a dime. Those rights are pretty well spelled out in the FDCPA (Fair Debt Collection Practices Act, 15 USC 1692). In essence, you write a letter demanding validation. They respond by proving (to you) that you owe the amount they're asking for, that it's actually your debt, and that the amount is accurate. In a perfect world, one of two things would happen. Either:

They send you proper validation, you pay them, and everybody lives happily ever after.

- or -

They can't provide validation as required by law, you tell'em to pound sand, and they slink away to pester some other unfortunate.

In reality, it's a bit more complicated than that. But it's still an extremely important topic. So I keep those four 'no's' in my sig file, just to keep reminding folks.