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  1. #1
    onebadbird is offline Newbie
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    Need advice on my car being repo'ed

    Ok I have had my loan originally it was through roadlaons they sold it to Santandier consumer. I ended up lossing my job about a year ago. I was out of work for a couple months I managed to stay a float barely but I did. The job I took is for a lot less pay and things have caught up to me. this last year has been a battle trying to keep a float. Any way My car was repo'ed last night. I can not file a bankruptcy cause I filed a chapter 7 about 5 years ago due to mediacal bills from a car wreck I was in. I know I cant afford for them to garnish my wages or I will literally be homeless. what are the chances they just write this off or do they generally come after you I dont really know how this works. thanks in advance for your help and advice I am just trying to keep my head up this Christmas for my kids sake.

    Thanks and Merry Christmas all

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  3. #2
    JoshuaHeckathorn's Avatar
    JoshuaHeckathorn is offline Administrator
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    Re: Need advice on my car being repo'ed

    I'm sorry to hear about your situation, and I do hope you were able to have an enjoyable Christmas spending time with your kids in spite of these problems.

    So, the repossession process works a little different in every state, but in most states creditors have the right to sue you for the remaining amount you owe. This will often happen after the vehicle is sold at auction and they have determined the total deficiency plus repo and attorney fees.

    I guess the answer to your question really depends on what that final number is. Of course, the bigger the amount, the more likely it is they'll come after you for it.

  4. #3
    JMason is offline Junior Member
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    Re: Need advice on my car being repo'ed

    Sorry to hear about this. In most states it just becomes a judgment on your credit report. Once they sell the vehicle they should send you a letter stating how much the car was sold for, and what your portion is. Give them a chance to auction the car. In most cases it could remain a charge off or a judgment.

    Let us know what correspondence you receive.

  5. #4
    onebadbird is offline Newbie
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    Re: Need advice on my car being repo'ed

    Just to clearify and help I am in ILLinois. Today I just recieved a letter from the lender certified mail.Stating that I owe them $11,200 that includes repo fee's ect. The car is prob worth about $2000 only and the letter also states they are going to sell it to a private party around january 15,2011 So I am wondering what this means to me? I thought they had to auction the car I am obviously wrong my main concern is that they come after me for the remaining balance. they have never contacted me to let me take my personal stuff out of the vechicle as of yet either. I hope this helps and your advice is very very very apreciated with this. Thank you and I look forward to hearing more advice and recomendations. thanks again

  6. #5
    JoshuaHeckathorn's Avatar
    JoshuaHeckathorn is offline Administrator
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    Re: Need advice on my car being repo'ed

    They will likely come after you for whatever the difference is between the $11,200 and what they eventually sell the car for. Also, they should have contacted you after the car was repossessed to give you an opportunity to pick up your personal stuff. Are you sure the letter they sent you didn't reference anything about that? If not, I would contact them about it right away.

  7. #6
    onebadbird is offline Newbie
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    Re: Need advice on my car being repo'ed

    no it doesnt state anything in the letter of were the car is or for me to get my stuff out of it. How will I know if they are going to come after me for the money will I just get a summons that I need to go to court because they are sueing me? Or will they tell me this is what you owe and we want it. Also if it goes to court and they get there judgement I would assume they would try to garnish my wages do they have to notify me of this as well? Or will they tell me if they decide to just write it off?

  8. #7
    JoshuaHeckathorn's Avatar
    JoshuaHeckathorn is offline Administrator
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    Re: Need advice on my car being repo'ed

    Quote Originally Posted by onebadbird View Post
    How will I know if they are going to come after me for the money will I just get a summons that I need to go to court because they are sueing me? Or will they tell me this is what you owe and we want it. Also if it goes to court and they get there judgement I would assume they would try to garnish my wages do they have to notify me of this as well? Or will they tell me if they decide to just write it off?
    They should send you notification indicating how much you owe them right after the vehicle is sold. If you ignore it, the next thing they might do is sue you and try to obtain a judgement.

    And yes- if they win, they could start garnishing your wages, but they would have to get approval to do that as well. That doesn't mean they would tell you what they were trying to do though. They could just write off the loss and forget about it too.

  9. #8
    onebadbird is offline Newbie
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    Re: Need advice on my car being repo'ed

    Thanks again I really really apreciate your input with this. What do you think I should do or tell them then. I mean I am praying they right it off because I can not afford to have them garnish me but I can also not afford to pay them either. I basically got into this mess because I was living fine at a job for 13 years paid my bills no problems except for medical bills a few years back. but was able to afford what I had then lost my job due to CUT backs. I found another job right away but for a lot less money. But I figured hey I am working not mooching and trying to hold everything together. I am even trying to get a night shift job as a second job. Sorry for rambling just very nervous and dont really know what to do. So your opinion is definatly greatly apreciated. what should I do once they sell it and send me the notice?

  10. #9
    JoshuaHeckathorn's Avatar
    JoshuaHeckathorn is offline Administrator
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    Re: Need advice on my car being repo'ed

    I would personally try to work my butt off and save as much money as possible between now and then so I could pay the difference before having to deal with lawsuits and judgments. Believe me, you want to avoid that situation if at all possible. Chances are better that they will come after you for the deficiency, so I wouldn't bet on them just writing off the debt and leaving you alone.

  11. #10
    jshimmer is offline Senior Member
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    Re: Need advice on my car being repo'ed

    Quote Originally Posted by onebadbird View Post
    I mean I am praying they right it off because I can not afford to have them garnish me but I can also not afford to pay them either.
    If you owe them $11,200 and (you say) the car is worth about $2,000, I can all but guarantee you that they'll be filing suit and (eventually) garnishing wages or going after any savings you may have (if you don't work things out with them prior).
    John Shimmer

    - As you wander through this life, no matter what your goal,
    Keep your eye upon the donut and not upon the hole.

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