Got my car repoed now whats going to happen?!?!!?!?

Question

My car was reposed around January 29Th, up till date I ha vent received an phone calls, or letters from the bank. Prior to the repoing i use to get about a million calls a day. What is the bank up too? Surely i owe about 10 thousand for whatever it was sold. i really ****** up the engine before it was taken it was next to burnt on a 2005 altima. Regardless i haven't heard anything for a while I'm starting to wonder what they are up too? Should i call them and inquirer on what tricks they got up their dirty sleeves? last time i talked to them i told them i was a student with not enough income to pay the loan off. maybe that's why? anyone got any suggestions ? PS: the car was only valued at around 18G's and i owed 28'gs because of extended warranty etc etc and like i said the engine was more dead then my dead cat

Answer 1

By now the should have been sold. I think they have to hold them for 30 days to give you a chance to pay the money back and get your car back. I'm sure they have reported it to the credit agency, so now when you get a loan, it's going to cost you in interest. You'll be considered a high risk.
They may also get a judgment against you for the balanced owed minus what they got for the car plus expenses incurred for the repo. Then they can get a lien against your wages till they get their money back.

It would have been a good ideas to call them and try to work something out, but it's a little late for that now. Good luck.

Answer 2

do a search on the internet on repossesion. more than likely you will not get your car back. once that happens you lose it and they can sell it. you must havent paid the note in a few months for them to take action. this will ruin your credit. they dont care if you dont have that much money, you owe and you gotta figure out how to pay for it.

Answer 3

His physique of concepts in direction of it is the actual project. he's in denial, he refuses to debate his financial and legal duties. This says lots on the topic of the shape of guy or woman he's. IRRESPONSIBLE. it is strictly what's going to take place. The financial corporation he stole money from is going to take the motor vehicle back (they have already performed this). they are going to touch him to artwork out a value plan (which he's ignoring). in the event that they are able to't get any cooperation out of him they're going to sell the motor vehicle and attempt to hold at the same time as lots of the money he stole from them on the common public sale. i take advantage of the term "stole" because of the fact it fairly is precisely what he did. He signed a settlement asserting he will borrow XX style of greenbacks and he will pay all of it back in XX style of months. He did not try this. He took the money, he under no circumstances paid them back. If that may not theft i don't be responsive to what's. in case you do not purely like the notice theft, exchange financial corporation fraud as a exchange. Who is familiar with what the motor vehicle gets on the common public sale yet all of us be responsive to vehicles sell low-priced at public sale and the financial corporation would not fairly care. in the event that they are able to't get all their money they're going to sue your boyfriend and take him to courtroom. he will of course lose the case and the decide will call for value. At this element they gained't supply any form of value preparations. They tried that once and have been given no reaction. so they don't seem to be going to furnish it back. this is funds, in finished on the time of the judgement. If he would not pay the courts will furnish the financial corporation the authority to return into his financial corporation account and take the money. it is termed a salary garnishment and this is one hundred% legal. So interior the top he will have destroywed his credit score, misplaced his vehicle, had a judgement located against him, defaulted on the judgement and ha his wages garnished. And on appropriate of all of it, he remains in charge for paying the money back. I specific desire your call is nowhere in this loan or he's going to pull you into it besides.