Has anyone here ever had to let a car be repossesed and if yes did the company ever take you to court?

Answer 1

I repossess cars for a living. Not everything others have told you is true.

To start with you (the debtor) made an agreement with a financial institution to pay for the car, but things happen and circumstances change. They know that.

UNLESS you are making your payment to the dealer NEVER take it back to the dealer lot. It can sit there for months before the finance company figures it out. The dealer very rarely if ever will call and tell anyone where the car is. So in the mean time you have the repo driver driving by your house all day and night looking for it, and the finance company depending on who they are will keep putting bad reports on your credit. They do not have the car to take to the auction, they assume you are hiding it, so they really can do a number on you.

As for going to court, in the SEVERAL years I have been repossessing the only 1 person I have ever seen been served was a Ford Motor Credit Account. This dudes brother had killed his wife and the brother had my unit locked up in his garage not making payments on it. He refused to let me have it, so I went to the Finance company who sent the proper orders to the sheriff who went out with me to break open the garage. This takes about 2 months to do. When the cop broke into the garage the car was gone. The dude got served to go to court because he had no legal right to the unit. He went to jail for a class 4 felony "With holding property from its rightful owner"

If you can not pay for it this is EXACTLY what you need to do.
Call your finance company and tell them, I can not pay for this unit anymore, please make arrangements for it to be picked up.
Make it clear to them where the unit is and make it just as clear that the Repo company needs to contact you before pick up so you can get a receipt for it stating the shape it was in on pickup. At that time you turn the keys over to the Field Adjuster that comes after it.

What happens then? The car will be held by the repo company until the financial company tells them what auction to take it to. It will be run through the auction and lets say it brings in 10,000.00 and you owe 14,000.00 on it. You will be responsible for the 4,000.00 and they will dog you in the ground for that money.

A dealer buy back is not going to work if you are up for repo. The dealer is going to call the finance company and learn it is up for repo and in my past experience some dealers will find out the name of the repo company and call them and tell them you are there. They will stall you until your car gets nabbed right there. I have a dealer here in Denver who calls me 4 or 5 times a week.

The best you can do is to call them and tell them to come and get it. BUT make sure it is cleaned out and your stuff is not in it. Repo companies charge as much as 200.00 to go reclaim your stuff. Even though you request contact dont mean you will get it, there are some really underhanded companies out there. Clean your stuff out and then call.

Sorry you have to do it, but do it before they mess your credit up so bad you will never be able to buy another.

Be Well.

Answer 2

Yes, the Bailiff came and served me with a paper saying that the bank wanted the car as I had to go bankrupt. They allowed me to get my possessions out of the car when the tow truck came and took it away. No, the company did not take me to court.

Answer 3

I didn't have to let a car be repossessed, but my daughter had one repossessed one time.

It will cost you a lot of money, because you will still owe for the car, plus the costs incurred to repo the car.... usually around $500.00 extra.

You would be better off selling the car to somebody for what you owe, or even for less than you owe, just to pay off the loan.

Yes, they will take you to court to recover their losses.

Answer 4

I never had a car repossessed, but I have repossessed quite a few. We have sued quite a few people, and garnisheed their wages for the balance. It is standard procedure to try to collect the balance.

Get a job, or a second or third job, and do not allow your car to be repossessed. You will lose in the long run!

Answer 5

definite, i myself do no longer recommendations others utilising my motor vehicle. And if i myself had to tension somebodys motor vehicle because of the fact i presumed it grew to become into way cool. i think of that individual might desire to easily quit the keys already. I promise to be ever so careful. Lol.

Answer 6

If they reposess it you sign it back over to the dealer....Better solution is go sell it back to the dealer....you go to them before they come to you..