Help with car repo!

Discussion in 'Credit Talk' started by roni, Jul 24, 2001.

  1. roni

    roni Well-Known Member

    A friend of mine has a problem. We are in the state of Pennsylvania. He is about 6 mos behind on car payments. They are trying to repo the vehicle (tonight). It is a 1996 Honda Accord. They want half the money now, turn in the car and then get the car back in 30 days when he can come up with the rest of the money.

    They want him to pay off the rest of the car loan now (that is half now and half in 30 days) or he has to pay the whole thing now. He owes $6400. I can't think of a thing that can help him. Can you guys. I dont even want to start on how this is hurting his credit....
  2. heather

    heather Well-Known Member

    I had this situation once, I just let them take it. If there is a will, there is a way. My husband nearly lost his job over our repossession, but it all worked out in the end. Perhaps he could go to one of those "buy here, pay here" places and get something to get him by until things can be settled?
  3. doodyhead

    doodyhead Well-Known Member

    ugh. This happened to me. But I was only 2 months & 3 days late. Bastards. I was able to redeem the repo by paying current plus one month ahead & the repo fees.. BUT it's still on my report as a repo ANNNND I still have the piece of crap car. I should've let'em have it, I coulda bought a cheapie car & had money instead of barely scraping by.
  4. roni

    roni Well-Known Member

    that is why i dont understand why they wont just let him become current. I think they are gonna put repo on his report also, but are trying to get the money out of him also....any thoughts.
  5. MartysGirl

    MartysGirl Well-Known Member

    It's going to be a repo on his credit report. So.. It might be better to Just let it go back.

    Last chance is to Lock it up in a garage and do not drive it. They can't enter a garage and take the car, That is illegal! Then Western Union what he owes on the car to bring it up to date. If that will not help ..... I really don't know what else to say. The people trying to repo the car will continue until they are told to cease. Maybe if the company gets their money they will cease!

    Good Luck!!

  6. breeze

    breeze Well-Known Member

    Well, heck, if they're gonna put a repo onhis report anyway (and they will) he should just tell them to come get the keys. He can find something for a few hundred dollars somewhere or go to the loacl "buy here pay here, no one gets turned away" places and get one at exhorbitant interest rates. Not much choice they're giving him.

    When I was deep in debt and had been sick out of work, I found a rusted out little Datsun (never knew the mileage the odometer was broke) that ran like a dream for $300.

  7. roni

    roni Well-Known Member

    you are probably right. If he truly has the $3600 he can get a car with putting half down now.....Dunphy says that they dont turn down anybody...for finnancing.

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