Tonight there was a strange man outside taking pics of my car.. AT midnight! I know i'm a month behind on payments, and also know that the 2 previous months I didn't pay in full ($480 payments, and only paid $350). I just want to know do the creditors actually come out and take pics of your vehicle when in the process of repossession, or should I be worried it's something else?! Thank you
2007-11-30 17:35:51 · 9 answers · asked by christy d 1 in Cars & Transportation ➔ Buying & Selling
Hide the car!!
when they repossess it, you STILL have to make the payments!!
2007-11-30 18:07:47 · answer #1 · answered by mdcbert 6 · 0⤊ 2⤋
For the record, you are not 1 month behind in payments, you are two months behind.
Three payments at $480 is $1,440. In those three months you've paid $700, which is 1.5 payments worth. Round up and you're now 2 months behind, with the most recent month having not paid at all.
Look, thieves may case for cars, but I've never heard of them taking pictures. My guess is that it's like your number two responder said, it's the bank taking pictures to get ready to provide to a repo house.
Both responders are right that if and when the bank gets ready to take your car, you won't know, it'll just be gone. Every day you drive it, the car is worth less, so the bank will be looking to get their collateral back as quickly as possible.
I agree, get everything of value out of the car that you can.
If you don't think you can get caught up on payments, I would surrender the car to the bank before they come to repo it. In many states, when you surrender the collateral it does not go down as a loan default. Meanwhile you're now at 90-day late status from this bank.
So long and short of it is, do one of the following:
1) Hide the car in a garage or some other place a repo company can't physically get to the car.
2) Catch up completely on your payments
3) Call the bank and work SOME sort of deal out with them, that could forestall or prevent entirely them from ording a repo
4) Turn the car into the bank now
2007-11-30 17:49:31 · answer #2 · answered by JSpielfogel 3 · 0⤊ 1⤋
Very well could be the bank, the creditor anyone setting up the file for repo. They know you are on the brink and the file has been handed over.
Could be pics to check for damage, get license plate, color, anything added to the vehicle, etc. So when it comes time they can give the pics to the towing company so its easier to find.
Unless you hit someone or did something wrong and its some driver who came by to get shots of your car.
Just be warned... you won't know when they take it. They are good. You will look out and it will be there, turn your back, hear nothing, and turn back around and its just gone.
I'd be taking EVERYTHING of value you want out of it and keep it out till you are caught up. Cause when they take it, its hard to get anything back. Many at the towing company feel its their stuff now as free.
2007-11-30 17:42:17 · answer #3 · answered by Anonymous · 0⤊ 1⤋
i have pepoed for 10 years and unless they changed something in the past 15 years that answer would be no, i have never run across that, the creditor only wants payment on the car, if its not paid they will just repo the car and dont care the condition because there going to auction it off and sue you for the balance, whisch is going to be a pretty penalry for you, because it can go for as little as 1 dollar
2007-11-30 22:58:41 · answer #4 · answered by haroldwsmithjr@att.net 2 · 0⤊ 0⤋
First I have been a repo man and have never heard of someone, whether the bank or anyone else going out to take pictures! When we spend the time to find your vehicle, it's not gonna be to take pictures, IT'S GONNA BE TO TAKE YOUR CAR.
2007-12-02 14:41:16 · answer #5 · answered by patrick b 2 · 0⤊ 0⤋
I'd bet it's someone working for the bank.
You should talk to them, they'd (99% of the time) rather work out a payment plan than take your car back.
2007-11-30 18:07:08 · answer #6 · answered by doug4jets 7 · 0⤊ 0⤋
I think if someone was in my yard at midnight,I would have to ask what the hell he was doing..I would not think it would be the bank..In the time he was out there snapping pics he could have repoed the car.
2007-12-01 02:48:04 · answer #7 · answered by Harley-HST 4 · 0⤊ 0⤋
Its something else. If they were going to repo it you would notice an empty parking spot where your car was!
2007-11-30 17:40:41 · answer #8 · answered by The Mechanic 3 · 0⤊ 0⤋
I HAVE HEARD OF THIS BEFORE AND WHAT THEY ARE DOING IS TAKING PICTURES OF THE VEHICLE AT THE ADDRESS FOR PROOF IF FOR SOME REASON THE VEHICLE IS NOT TO BE FOUND.
THIS PICTURE WILL BE TIME AND DATE STAMPED AND USED AS EVIDENCE AGAINST YOU IF YOU SHOULD TRY AND HIDE IT.
2007-11-30 23:31:53 · answer #9 · answered by Anonymous · 0⤊ 0⤋