My darling EXhusband and I had acar reposessed shortly after we split, and now 4years later I am responsible for 6400 left on it he has paid thus far on his own but, the interest goes up $1.85 PER DAY
WHERE can I get incontact with a company that will help me to pay this off with LESS interest or SOMETHING.... I want to pay it off in a year but can't afford $700/month
2006-09-11 20:11:36 · 4 answers · asked by Christina M 1 in Business & Finance ➔ Credit
If you want to pay this, I would suggest first sending the letters that are on the first link I've provided. Be sure to fully read the complete page and follow all of the steps before sending anyone anything.
After you receive the response, you might want to send a pay for delete letter to the original creditor.
If it has been 4 years since the sale of the vehicle, and no payments have been made on the deficiency, you are legally out of the statute of limitations for collection on the debt.
If they had failed to send "you" all of the requred and legal paperwork before and after the sale, the repo would be considered an illegal repo and legally non collectable.
(If payments were made on the deficiency, the SOL 'may' have been reset)
Since it sounds (from the time you stated) like you are out of the statute of limitations for collecting and you "are not" legally bound to pay, but if you want to pay, offer them a percentage of the amount as payment in full.
Also request that after they receive the full "agreed upon" amount they will not continue to collect on the account, they will not sell the account or the remaining portion of the account, they will remove anything they have placed on your credit reports. If the account had been place with a collection agency, request that they recall the account.
Do everything in writing and send it certified mail return receipt.
2006-09-12 11:05:03 · answer #1 · answered by echo 7 · 0⤊ 0⤋
You can contact the company directly that is owed and offer to work out a deal. Most companies have SO many repos, that they are glad to get money coming back.
If you had a better money situation on your own after 'EX', you can take out a personal loan or line of credit if property is owned. I guarantee the interest rate will be lower, saving you money.
Be sure to consider a pre-nuptial agreement next time as well. ; )
2006-09-12 03:23:38 · answer #2 · answered by onionheadinvancouver 3 · 0⤊ 0⤋
Consumer Credit Counseling... AKA Money Management
2006-09-12 03:16:02 · answer #3 · answered by hereintheunivers 2 · 0⤊ 0⤋
WHY? You're credit goes down the tubes with a divorce anyway so why not take advantage of the "bankruptcy" laws?
2006-09-15 15:48:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋