I recieved a letter trying to collect 12,000 for an auto loan. I was laid off from my job and struggled to pay, but finally had to let the car go back. The loan was a high interest. I paid 450 a month for around 4 years. Then I get a call wanting the 12,000. Apparenlty even after the repo, they still want the full price. They offered to make an arrangement if I could give them smth like 3000, they would call it even. If I had had the money I would have taken the deal, but I didnt. That was about 2 years ago. Then a few weeks ago i get that letter from Simms. Then today I got an automated phone call from them. I havent returned the call. I am in alabama - Hamilton. I do not have 12,000 obviously to give to some collection agency for a car I dont even possess anymore. The crazy thing is, after paying 450 for 4 years, they still say i have a balance that high. Its because they would add whatever crazy interest and penalties for late pays etc. My balance actually went up everytime I paid rather than down. How can they get away with this crap. I am a single mom, working and barely making it. I am just now starting to see the light of day and now this. I dont think I can take any more, and am considering bancruptcy. Does anyone have an suggestions before I resort to that? I have 2 old cars, because neither runs worth a darn and I have to have a backup for one when the other is down. I have heard you cant have more than one car if you file bancruptcy. I am about to not be able to take care of my babies and Im so scared. All over some horrible car loan, that I had to take out to begin with becuase I had no way to work and it was my only option. My luck seems to be so awful. I realize I owe smth on this loan (even though technically I probably paid it in full over the 4 years I did pay). but the full 12,000 and I dont even get to keep the car? I let them take it, because I couldnt pay for it. If I had known that they were going to charge me the full price anyway, I would at least have kept the car, so I had something decent to get me back and forth to work, to be able to pay the bill, you know? Any help would be appreciated, an attorney seems like my only option now, and I cant even afford that.