I recently lost my job and can no longer afford to make my car payments. The place that gave me the loan has threatened to sue me. I don't want to return the vehicle, I'd rather have it as a scorched credit rating on my TRW . But, I would pay the balance later on down the line, little by little. Could I keep the car in hiding and hope that it's not found? And once this is on my credit report do I still need to run and hide? Could they still come for the car?
2006-10-05 02:38:38 · 6 answers · asked by Latinamom 2 in Cars & Transportation ➔ Other - Cars & Transportation
I think they can repo the car if and when they see it. The best advice I can give is to communicate with the company as openly as you can. Let them know your situation and be honest with them. They will be more inclined to help you if they know you are actively looking for a job, etc. Bottom line though, they are going to want their money or the car.
2006-10-05 02:43:09 · answer #1 · answered by Sharon 5 · 0⤊ 0⤋
you can keep the car in hiding and hope its not found. Once it is on your credit report its there unless u can sweet talk someone into fixing it after you've paid it off. The car belongs to them it is on loan to you but u can file for bankruptcy and it will slow the process down
2006-10-05 02:50:57 · answer #2 · answered by isa 2 · 0⤊ 0⤋
get another job and make your damn payments or give the car up. take responsibility for your life and quit blaming the world. if you just lost your job and are one payment behind then they dont sue yet. you apparently are such a deralect that you have denied most of your payments.
yeah file for bankruptcy because that only screws your credit for 7 YEARS!!!
2006-10-05 02:46:08 · answer #3 · answered by doogie494 2 · 0⤊ 0⤋
Credit rating is damaged, and they may repo your car and other items to cover the cost. basically they dont get whats owed from you they WILL find other ways of getting it. Your best trying to return the car because they will find you and your car sooner or later. Wont they negotiate? tell them your situation and see if you and them can restructure your payments.
2006-10-05 02:55:59 · answer #4 · answered by guitar_f1ngers 3 · 0⤊ 0⤋
you are trying to play a dangeroius game hiding the car. call the loan company and try to work out a payment plan with them
2006-10-05 02:53:11 · answer #5 · answered by island3girl 6 · 0⤊ 0⤋
if you missed payments it is already on your credit if they repo the car it looks worse and they will try to get the car as long as you are behind on payments
2006-10-05 02:42:49 · answer #6 · answered by Anonymous · 0⤊ 0⤋