Re: Repossesion

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On 9/06/02, Brian wrote:
> On 9/05/02, Jamie wrote:
>> We are currently are few months behind on our car payment.
>> A few days ago the repo. man can to our house, but I did
>> not answer the door. I called our bank were we have the
>> loan and apolagized that we were so far behind. The banker
>> said that they would "work with us" and thanked us for
>> calling. We had made a agreement that I would have my
>> payments made up by the following month. Does the repo.
>> guy still that the right to come get my car before I am
>> cought up?
> In Missouri, banks are required to send two letters notifying
> you of default on the auto loan before repo can begin. After
> that, look out! They practically stole my vehicles from my
> garage and driveway in my situation.
>
> Call your bank and ask if they have any letters on file
> showing that they have notified you of default on your loan,
> then get copies. You may be able to re-write your loan, which
> could start you off with zero default letters, since they may
> refer to loan numbers in their policy.
>
> The best thing is to keep it paid up, or trade down to
> something you can make payments on every month. Sorry, you
> might not like that advice, but it came from my bankruptcy
> attorney!
Well, Jamie it depends where you live. In Missouri you geta
letter so you have a chance to decide if you want to be smart
or stupid. Smart if you want to pay up or work a deal with the
lender or stupid and try to hide the unit or drive it off the
repo truk or find out what your RIGHTS are, ect. Please be
smart and talk to your lender regularly and honestly. Anything
else COSTS you money in the long run.DONT let it get to repo
status, it's DOWNHILL from there. Good Luck roosta

Re: Repossesion, 7/26/04, by Chrissy.

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