i have a car thats about 2 payments behind, the bank that has the loan is located in california, they said if i didnt come up with one payment by october 7 they were repossesing it, well the day has come and i only have half the payment what should i do, send them half or is there a way i can stop them? debt consilidation or something?
2007-10-06 07:38:26 · 10 answers · asked by Anonymous in Business & Finance ➔ Credit
Before you make that payment, get it in writing that if you
make the payment, THEY WILL NOT TAKE YOUR CAR.
I had a car re-possession and I made two payments
and they took my car anyway. I had to sue them
back and found out they didn't even keep a payment
history. So I ended up getting the car for nothing
because they had to proof my payment history and
they couldn't . I'm in PA and they were in California
Wouldn't be Triad Financial now would it ?????
2007-10-06 14:53:35 · answer #1 · answered by Anonymous · 0⤊ 1⤋
You have to come up with the entire payment or you will lose the car. If you can figure out a miraculous way of coming up with the payment then you can talk to them about putting the other payment off until the end of the loan so that you won't be behind now. In order to put a payment off you have to be able to pay the interest part of the payment. You can then try to go to a debt consolidation place, but at this point you are going to have to deal with the car first as you have let it go for too long. If you send them half it will be wasting your money. Good luck.
2007-10-06 07:49:03 · answer #2 · answered by Anonymous · 0⤊ 1⤋
If you are already 2.5 payments behind I seriously doubt there is a lender that will consolidate for you because of the late payments showing on your credit report.
Do not let this happen, a repossession is one of the worst things that can show on your report without a bankruptcy to explain it.
The lender will sell the vehicle at auction for less then it's worth and come after you for the balance plus all fees for the repossession, towing, storage, reconditioning, auction, interest, lawyers and anything else they can think of.
This will amount to several thousand dollars and if you do not pay they can take you to court and get a judgment, at that point they can attach bank accounts, garnish wages (if your State allows it) and file liens on any other property you may own like cars, boats, land and homes.
All of this activity will show on your credit for 7-years making it very hard to get any other types of loans without paying massive down payments, huge fees and State maximum interest rates.
2007-10-06 07:47:48 · answer #3 · answered by ? 7 · 4⤊ 1⤋
Over the course of a day, you checked 250 total mousetraps and determined that 50 of them were perfectly made. Approximately what percentage of the mouse traps you checked was perfectly made?
2016-01-19 09:05:31 · answer #4 · answered by Troy 1 · 0⤊ 0⤋
If they actually "threatened" repossession and then did not send you a written "right to cure" notice, they can't touch you. They would of needed to mail you a right to cure notice, as required by State law, and provide you a written notice that they would repo.
Contact a local attorney and discuss your rights. They'll talk to you for a few minutes for no charge.
2007-10-06 10:18:22 · answer #5 · answered by Anonymous · 1⤊ 1⤋
I would call the company and try to negotiate with them ASAP and tell them I have half the payment and I can have the other half in 2 weeks even if you can't. Good Luck!!!
2007-10-06 07:46:27 · answer #6 · answered by funvonne 2 · 0⤊ 3⤋
Your half payment will be wasted. Hold onto it and ask them how long they will hold the car in repo.
Even after they repo it, they may hold onto it for a couple of weeks and let you pick up where you left off. That happened to me years ago when I bought a used car on special credit.
Debt consolidation will just add one more expense and it will be too late to save the car.
I know someone who had a car repossessed. They did pester her for the difference after they auctioned it off, but she held out and eventually they just went away. Seven years goes by pretty quick.
.
2007-10-06 07:46:02 · answer #7 · answered by Kacky 7 · 1⤊ 5⤋
Call Dave Ramsey.
2007-10-06 07:46:23 · answer #8 · answered by tag you're it haha 3 · 0⤊ 5⤋
find a car dealer who will buy ur car on a premium.
2007-10-06 07:47:52 · answer #9 · answered by jimmybond 6 · 0⤊ 4⤋
I'd say goodbye to the car.
2007-10-06 07:41:45 · answer #10 · answered by Smelly Cat 5 · 2⤊ 4⤋