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Hi ~

I am in a desperate situation. I made a mess of my finances for quite some time and am now ready to take responsibility for my debts. I had everything in line and for the past few weeks it seemed like it was really going to work out.

Then my car got taken last night. My roomate came and said there was a guy with a towtruck and my car outside and he wanted to know if I wanted anything out of it. My face fell. I had nothing to say. I gave him my keys because I know that's what I needed to do and I didn't give him any trouble. I called the bank where my auto loan was taken from and they said that in order for me to get my car back I needed to pay a lump sum of almost $10,000. I don't have that. Luckily my roomate is so sweet to bring me to work and I don't work very far. It's only about 3 miles so I can walk if needed.

Has anyone been in this situation before? I feel like a wreck and I don't know what to do. I emailed my mother to let her know what's going on...the only option might be for someone to co-sign a loan for me?

Please help...

Debbie




Hi Debbie

Unfortunately, the auto loan company has fewer options and they cannot do anything but to take away the car. You can still get back your car if you make some payments now and assure that you will pay off the balance within the time you assure. They want their money back and you want your car back. It is clear that they did this because of not getting the money from you. So, you have to arrange something that works for both of you.

Sub: #1 posted on Thu, 01/25/2007 - 01:27

mcranberra mcranberra

(Posts: 524 | Credits: 71.94)

Thank you for the reply. I just feel so awful about this - but maybe it was a good thing. I really want to work this out so hopefully I'm able to. If I continue to send them as much money as possible hopefully we can come to an agreement.

I'm going through a family member to see if he would be interested in cosigning a loan for me. That way I can pay it all and just make sure that that loan is paid...not matter what!

If anyone else has any similar experiences, I would love to hear them...it's nice to know I'm not alone.

Sub: #2 posted on Thu, 01/25/2007 - 06:23

dhelpwithmoney dhelpwithmoney

(Posts: 2 | Credits: 1.35)

My car company was about to take my car just because I was late by two days. Luckily, my brother was very helpful because he got the paycheck on that day and he wanted me to make the payment to the car company. If you have someone in your family or friends who can understand this problem, talk to them. You never know when help can knock unexpectedly.

Sub: #3 posted on Thu, 01/25/2007 - 22:51

Howard Howard

(Posts: 310 | Credits: 104.2)

I too had my car repo while I was sleeping. I have to pay the lump sum of $10,000 and whatever the reposession fee may be. I don't have that kind of money and neither does anyone in my family and friends. I've been doing research to see if I can get any loan to pay it off. I have a house, but my credit is really awful from past debts. I was considering to get an equity loan from my house, but have not been successful in finding a company that will give me a change.

Sub: #4 posted on Tue, 08/26/2008 - 01:50

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