Repo Question

[caseyandjenny]

hey, kind of new here and have a few questions. we have a little 2 door cavalier that wells fargo holds the title on. payoff is $9000 and its worth MAYBE $3500. well, i told a collector who called awhile back that we were thinking of filing and including the car. He said to get ahold of a supervisor or someone higher up because they can/will make you some kind of a deal. I dont need the car (have twins and another coming in sept.) So its not a big deal to lose it. anyway, got a call today and asked about making a deal. He said "we dont make deals like that" he was just a d*ck. anyone else have an experience like this where they will/wont deal with you??

[AngelinaCat]

We had that with our major CC, where they wouldn't settle for a lesser amount. Also there was a small medical bill that we had been paying an agreed amount on monthly. When we got it from about 2K down to $550.00, we suddenly got a 'nasty-gram' demanding payment in full, and alledging that we had violated the payment agreement. 'Hub, never one for not being able to write letters! popped one back at them and essentially said they had violated the agreement themselves, and we weren't paying another red cent, and that we were filing, and they would be listed in the BK, that they had just screwed themselves.

Now that that is over, if you don't need the car, why not go ahead and turn it back in? Save those payments for the baby, and for a little emergency fund down the road. Morer and more people are going to be turning in houses and cars as this economy gets worse.

Good luck to you all!

[liz417]

Hi there and welcome to this forum,

It funny how the cc and/or loan companies don't want to work things out with you BEFORE there's a problem, but as soon as you stop paying, boy the deals come your way!

I called a couple of my (larger) cc's before I was in trouble, trying to work out something, anything! I was paying appox. $1,500 in minimum payments per month and just couldn't afford it anymore. Anyway, I figured out that I would be able to "swing" a $900.00 per month...but no one wanted to help or reduce the payments temporarily(I've had some of these credit cards over 15 years!)...I even talked to supervisiors. Now that I have an attorney, the are willing to "settle" the debt...yeah sure!

I think AngelinaCat is right, it's only going to get worse, people are just going to surrender everything to the loan/creditors and walk away!

Good Luck!

[Cali]

I didn't tell anyone I was thinking about filing until I started seeing attorneys.

hey, kind of new here and have a few questions. we have a little 2 door cavalier that wells fargo holds the title on. payoff is $9000 and its worth MAYBE $3500. well, i told a collector who called awhile back that we were thinking of filing and including the car. He said to get ahold of a supervisor or someone higher up because they can/will make you some kind of a deal. I dont need the car (have twins and another coming in sept.) So its not a big deal to lose it. anyway, got a call today and asked about making a deal. He said "we dont make deals like that" he was just a d*ck. anyone else have an experience like this where they will/wont deal with you??

[Pinkie86]

Yeah me either. I didn't tell anyone until after I hired my attorney after a particularly scary phone call.

(of course I realize now I had no reason to be REALLY scared of a jerk-off debt collector, but hindsight is 20/20)