I've had my car for five years. it's in my father's name. he has passed away. The contract on my car was to be paid off this month . I am 2 months behind in my payment. I called the creditors to explain that I will pay the catch up payment this friday. one Rep was real mean about it. I then asked her if I could money gram the money this friday send $900.00 she gave me the money gram info I needed to send the payment. I then called again to reasure that I am still sending $900.00 this friday another rep threatend & said we need the money today. I mentioned I have no other finacial means but friday you will have the money. my question is can they repo my car? the car is 30,000 I have already invested $28,000 I would like for the creditor to know I would not have come this far to lose it. should I hide the car until paid off?
2007-01-29 02:10:13 · 3 answers · asked by noraminer@yahoo.com 1 in Business & Finance ➔ Personal Finance
"should I hide the car until paid off?"
Yes, at least until you are all caught up. Especially since the actual named owner is deceased. It would be rather difficult to get back a car that isn't even in your name.
"I would like for the creditor to know I would not have come this far to lose it."
Do you seriously think they care? If the company really wants to repo your car, they will. They want their money and will say anything to get it.
"another rep threatend & said we need the money today."
Or else what? If they were going to repo, they would have already sent someone. Don't let phone reps bully you.
"can they repo my car?"
Yes. If you are even a week behind they can do this, but 99.9% of lenders don't. They want your cash far more than they want your car.
2007-01-29 02:28:59 · answer #1 · answered by BoomChikkaBoom 6 · 2⤊ 0⤋
It's not your car. It now belongs to your father's estate, unless your name was joint with your father's on the title. If it has been some time since your father died, you may even be driving the car illegally.
If you have the title or you are the administrator or executor of his estate, you may find it better to refinance locally (preferably with a credit union), especially if the car is worth $28,000 more than you owe. It also depends on your credit standing, of course.
2007-01-29 10:36:06 · answer #2 · answered by thylawyer 7 · 1⤊ 0⤋
I would definitely hide it!
2007-01-29 10:30:49 · answer #3 · answered by Glen S 1 · 0⤊ 1⤋