I will make the history files with this case. Here is my story. In a nut shell, in march 1995 bought a vehicle and financed it for 5 years. For reasons that can be forwarded, the loan was defaulted about the end of middle of 1998. I thought I was making all payments as normal through a serious girlfriend living in another state. I had been with her since 1995. To make a long story short, she was not using the funds for what I allotted it for. My fault comes in march of 1999 when she stop lying and told me the truth. I was in a terrible predicament. I owed almost 8 months of back car payments. I didn't have that cash on me and I needed my vehicle to get to and from work as I live in queens, NYC and worked in Long Island. My mother had cancer and I was the only person able to help her financially. Help arrived in the form of my brother. He offered to buy the car from me as long as I pay the back 8 months. This was about April of 1999. He took the car to Memphis where he lived. About 4 weeks later he was murdered, That was not the worst of it two weeks later my mother lost her battle with cancer. Now I was stuck with paying for two funerals, 8 months of back car payments ( if I wanted to keep car) and a car payment. My fault now comes. I couldn't't take the car back from my brother's wife. I just couldn't't she and my niece needed it and they need my financil help. I couldn't't give her back the car my brother gave me because I had to go to work. So I did nothing! I didn't contact the creditor. I didn't give up the car. I am completely at fault. Months became to years as the depression set in on my life. I got my life back together in 2000. I finally got the courage to go get the car in 2001 from my brothers ex-wife. I didn't know how to handle the case so I put it off. I didn't have much in funds yet to make right my wrong to the company so I set on may hands until today. I have saved about $15000 dollars and I estimate owing about $8000 in principal on the loan. I surmised that she hadn't sent in a payment since June of 1998. I have access to more funds in that I can sell some inherited property I just recieved. I must admitt it is painful for me to think about the entire affair. I feel like and evil person. Like a theif. I want to know how do I go about fixing this. I am not a theif and have always been a stand up person. All my life, except in this one incident. I want that company to have what is due to them. I just don't know how. Do I hire a lawyer? Do I try to contact them after so long? I have had not contact with them over all this time. I ask for no sympathy. I made the decisions to buy and it was my responsibility to pay. I just want to make right a past wrong! I don't use credit. As a matter of fact, I never used credit during my life except in an instance of buying that car. I don't care about fixing my credit. I just want to get this off my conscious and make right my debt. It has been almost 6 years since a last payment. But I want to pay in full my debt. Please Help me or direct me to someone who can help me. I have reached the point where I have the courage to face my demons and re-live the pain of losing my love ones. I must admitt when I think about the problem I think of my closest sibling and My dear mother......Please Help! Please help1?
DLB, If you want to pay this to clear your conscience, then start by pulling your credit reports. You need to find out WHO you owe for this car. Its been a very long time, bad debts get sold, or assigned, judgements could have been awarded, etc. I admire tremendously what you want to do, but the cold hard facts are, in trying to do this, the sharks will come out. Many people, in the quest to do the right thing have paid the wrong person, and wind up with additional problems such as sleazy companies trying to collect again. You cannot go by your old paperwork and correspondence. So, pull your cr's and lets find out what is showing up. You may have to play the credit repair game some, just to cover your bases.
I admire your willingness to deal with this and pay what you owe. But jlynn is right - it is going to hurt you in the long run. And the original creditor wrote the debt off long ago. The debt is past the statute of limitations in most states, and legally, you no longer have to pay it. How would your conscience fell about donating the money to a worthy charity? It will do far more good that way than paying a bad debt purchaser - these are companies who buy bad debts for pennies on the dollar and then make people's lives miserable trying to collect money from them when they are in terrible trouble to begin with.
But, I am somewhat confused. The car isn't really his, or his sister-in-law's because the lein that was on it was never satisfied, correct? So what about when the day comes that she needs to sell it, or use it as a trade-in for a new vehicle? How is that going to happen? Can't this be a huge mess with the DMV as well?
10*I thought he sold it to his brother in which case the title would have been transferred to his brother. Since DLB sold the car to his brother I don't get why He feels he owes anything for the car. 20*Good QUESTION. How do you transfer title on a car after the sol on the loan has expired ????????????????? 30*Maybe.
Re: Re: Repo that never occurred 1. Sounds like it was an under the table deal, where no one notified the lienholder. 2. As part of the sale, he was supposed to make up the back payments, which it doesn't sound like was ever done, so the agreement of sale never took place. He left the car with his sister-in-law out of sympathy, plus he ran the risk of the lienholder finding the car if he took it back where he was, then he would have been vehicle-less. The car is at least 9 years old, if it is even around and running anymore - DLB never said. If he still has the car, there are procedures he can probably take to obtain a title. I still say, until he looks at a cr to see who is claiming he owes money too, everything else is probably moot.
2**I thought I was making all payments as normal through a serious girlfriend living in another state. 4*8 months of back car payments (if I wanted to keep car) 6*I didn't contact the creditor. 8*I didn't give up the car 10*I estimate owing about $8000 in principal on the loan. 12*? I have not had contact with them over all this time DLB ><- <>- ><- <> 2**Why didn't you just make out the checks to the loan company and mail them directly to the loan company instead? 4*Why would you want the car back after you sold it to your brother? 6*So then how do you know what the balance is if any?? 8*You did when you sold it to your brother. 10*What do they claim you owe? 12*Maybe that's because you don't owe them anything. NOTE How do you know the car loan wasn't paid in full upon your brothers death??????
Re: Re: Re: Repo that never occurred 1*sounds like it. 2*Right On. If folks would just give the clear full story it would make giving good correct advice easier wouldn't it?
Re: Re: Re: Repo that never occurred OK....I pulled CR and it looks like the same company still holds the loan...do I call them and pay them tommorrow or do I get a lawyer? What is the best course of action. My CR only shows their name and no one else. It is written as a Charge Off. Thanks for the help so far everyone. Just help me with the next step and I will make right on my wrong to society. Should I call them tommorrow??? Or is it someone else may have the loan? Help!?
Re: Re: Re: Repo that never occurred OK....I pulled CR and it looks like the same company still holds the loan...do I call them and pay them tommorrow or do I get a lawyer? What is the best course of action. My CR only shows their name and no one else. It is written as a Charge Off. Thanks for the help so far everyone. Just help me with the next step and I will make right on my wrong to society. Should I call them tommorrow??? Or is it someone else may have the loan? Help!?
Re: Re: Re: Re: Repo that never occurred I think you're going at this with the wrong attitude and an incorrect aproach. ><- <>- ><- <> ><- <>- ><- <> ><- <>- ><- <> *****NEW MEMBER MUST READS***** 12-25-3 What is Validation http://consumers.creditnet.com/stra....php?s=&threadid=42188&highlight= validation *** Victims of Credit Reporting *** http://members.aol.com/victcrdrpt/Score.html Rule of 72 http://consumers.creditnet.com/stra...=&threadid=39313&highlight=rule+AND+of+AND+72 Must SEE--------------------------- http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=350770#post350770 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=314910#post314910 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=352826#post352826 """""""""""""""""""""""""""""""""" FixYourOwnCredit! http://consumers.creditnet.com/stra...848&highlight=fix+AND+your+AND+own+AND+credit """"""""""""""""""""""""""""""""""""""""""" '''''''''' `````````` '''''''''' Sample letters http://consumers.creditnet.com/straighttalk/board/index.php?s=WhyChats statute of limitations http://community-2.webtv.net/Y-chat...ity-2.webtv.net/Y-chat/WhyChatsCredit/statute of limitations http://www.edebtnetwork.com/content/collection_laws.asp""""```--~~~~~~~~~--```'""''' THE END ** *** ** LB 59""""```--~~~~~~~~~--```'""'''
A loan from a secured party, which maintains a security interest, (the underlying asset/collateral) may still have every right to pursue this debt legally. Chattel Paper and Chattel Property, which acts as the underlying collateral for a loan, is governed under an entirely different system of law. Secured debt is different from other types of debt and relying on the customary SOL's we always rely on could be a HUGE mistake. Nobody on this forum is qualified to tell you, with any degree of certainty, that any part of your unfortunate nightmare is safely beyond the SOL. You have some money now. Go see a lawyer. Also - take the emotional component OUT of the picture DLB. This is purely a business decision. Creditors rely on your guilt to extract/extort the maximum amount of money out of you. .
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx Thanks for the advice. I will consider what you are saying. What do I do with vehicle? I figured if I made the debt right I could get the title and get rid of it or I could allow them to come seize it. I don't need this vehicle. It is a constant reminder of the past. Any other advice? Help! DLB XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX 1*I could allow them to come seize it. 2*allow them to seize it. DLB ============== 1*Why pay for the car and then let them have it????? 2*This would put a real repo on your report for the next 7 years-that would be real smart wouldn't it??????? Like Butch and I both said you've got to get your emotions out of this. Until you do that you will just keep on screwing yourself and shooting yourself in the foot at every twist and turn.
><- <>- ><- <> Any agreement that can be changed at any time, for any reason, is no agreement at all ><- <>- ><- <> Or is it someone else may have the loan? ? DLB ><- <>- ><- <>
There are potentials in this situation for really nasty surprises to pop up, and I don't think a car theft charge is out of the question if someone on the other side wants to get really mean. Therefore, I think a NACA member attorney would be the first stop. Get all your paperwork together, put together a chronological timeline of events, make copies, and have the organized package ready to hand to the attorney. I believe it's Naca.net.
1*the loan was defaulted about the end of middle of 1998. 2*I was stuck with paying for two funerals 3*I have saved about $15000 dollars and I estimate owing about $8000 in principal on the loan 4*I want to know how do I go about fixing this. 5*I want that company to have what is due to them. 6*I just don't know how. 7*Do I try to contact them after so long? I have had not contact with them over all this time. 8*I ask for no sympathy. 9* I don't care about fixing my credit. 10*I just want to get this off my conscious and make right my debt. 11*It has been almost 6 years since a last payment. 12*But I want to pay in full my debt. DLB ><- <>- ><- <> ><- <>- ><- <> ><- <>- ><- <> 1*Is SOL up? 2*You shouldn't have been. 3*Have they validated? You can't just flash money at it and make it go away. 4**Did they validate ????????? 5*Even it means getting the screwing you don't deserve.?.?>?> 6*Read up on the board and learn. 7*Not before you know how the game is played unless you don't mind shooting yourself in the foot. 8*In other words you think they should screw you every way they can. 9*Why?Is it because you like getting shafted? 10*There is a right way and a wrong way to do that. 11*Then you probably don't even have a debt so why all the worry and fuss?? ?? ?? 12*You better get your emotions out of this before you do something stupid that you will regret for a long time.
