I have a car that up until about 4 months ago was up todate in payments but I then lost my job and could not make any payments at all so now I am about 4 payments behind.
The finance aompany has tried to get it from me but I have been hiding it because I do still want the car and I paln on making the full past due payments in the next month. So here is the question. If they can't get the car do they still consider it a reposession and what happens when I start to make payments again?
2007-02-28 04:23:44 · 2 answers · asked by K.D. 2 in Politics & Government ➔ Law & Ethics
Depends on your local laws, but generally, if they can't find it, it still shows up as repo on your credit report. If they can't find it eventually, they will consider it a loss. If you can keep it hidden until you're caught up on your payments, then you should be able to have them retract their reporting.
2007-02-28 04:27:56 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In all seriousness, if they are trying to repo the car, hiding it will only make it worse. They will have you back in court so fast it will make your head spin. The judge will be angry and you will be screwed. Starting to make your payments again will do no good, maybe if you pay off all the months you missed and then start paying regulary, they could consider something. They will not consider it a loss, they will get the car or the money, trust me.
2007-02-28 04:41:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋