Settled instead of a REPO!!!
Date: Thu, 09/24/2009 - 15:29
I purchased a motorcycle about a year ago and financed threw GE Money. I haven't made a payment for almost 8 months. There was an attempt to repossess the motorcycle but it seems they gave up. Today I received a call saying they would be willing to settle for 40% of the current balance that I owe! So, they faxed over the settlement proposal and I have until the end of the month to make payment, which I will be doing.
Wow congrats! I'm surprised they let you go 8 months without pay
Wow congrats! I'm surprised they let you go 8 months without payment. I was behind 3 months and they took my car. Perhaps the motorcycle was low in value and if they tried to repo it, it wouldn't get much at auction.
Either way, lucky you!
