As of right now i've contacted several lawyers that i've found in the phonebook. I haven't received a return phone call. I've thought of trying to stall them and tell them that i'm doing all that I can to come up with the money. I am kind of at a stand still and I don't know what to do. Any suggestions are welcome.
Thank you guys for all of your input. The name of the leinholder is Automotive Credit Corporation. I looked there are no complaints on this company at the bbb and their state license is active. I got the car from a dealership here in Michigan called Detroit II. If you donâ??t have a copy of you loan agreement go there and ask for a copy and re-read it regarding repression. They canâ??t help you get the car back, but they will have all paperwork signed so you can understand what your rights are. I've came up with the decision that I am not even going to try to get the car back. They are putting me through so much trouble. After I posted my previous messages, i've been talking back to the leinholder. Heres the deal: They want me to pay $3500 what is the complete break down on this amount. by May 14, 2004 with the following additions, towing, repossession fees and any other fees. Check this out, I have AAA full coverage insurance. They took me through the ringer on that wanting to verify that I had full coverage insurance after they took the vehicle. They wouldn't take any documentation from me, they wanted me to have AAA fax it to them directly to verify my insurance. That must mean Automotive Credit Corporation did not have current insurance information on file for you. That could have be AAAâ??s fault, as they forward insurance renewals and cancellations to the lien holders. Not have full cover insurance on a vehicle in the state of Michigan warrants a breach of contract and they can repo the car just for that. The lien holder can charge you for any insurance they place on the car in order for them to protect the car from fire, thief, and non-collision damage. If they felt you did not cover any or not enough insurance they could charge you. After they verified my insurance, they had the nerve to tell me that it's only paid up until May 14 and they want it paid right now for the next three months. Once again by signing that loan agreement you stated that you will have full coverage insurance on the vehicle at all times. No offence, but you are late paying Automotive Credit Corp. in their eyes you might be late paying AAA, also if you have to pay them to get the car back how will you pay the monthly insurance payment. Once again this is not me saying you wouldnâ??t pay its ACC thinking. Hello, I pay every month on my car insurance. My policy is for a year but they want me to pay. This is really creepy. What an introduction to having a car note. This is actually my first car note. At this point, i'm ready to tell them to sell the vehicle and just keep paying my regular note so that they won't be awarded a judgement. They threatned that the vehicle won't sell for even half of what I owe if it goes to an auction, after this is done then their law department will get a judgement and take 25% of my wages off of the top. I just don't know what else to do. What is the $3500 for? What if you can make up all late payments, which if what you are saying is last month, as well as this months, paid for the repo costs, and pre-paid your insurance for the next month? Would they accept that? So offer late, current, and one advance payment, all repo charges, and pre-paid your AAA for the month of June. If there is any other fair and reasonable costs asked them to put them on the back end of your payments. So it takes you 52 months to pay off a 48 month loan. You havenâ??t lost the car, and you donâ??t have a judgment against you. You can have the repo reversed after payments have been made. They canâ??t change your interest rate, so do what you can to get yourself straight now.
Thank you for your responses. I am glad that you took the time to read all of my posts and respond to my concerns. I am just a little scared to call the leinholder and state that I will pay all of those fees and I don't come up with enough money before the 14th. If I am able to accomplish this task, won't they still report a repossession on my credit report but state is as a redeemed repossession. Will that also damage my report just like a regular repossession would?
