Has anyone ever had a vehicle repossessed?

It going to cost you a lot more in fees if they repossess it. I would start by talking to credit union and explaining circumstances, See what they will work out. Worst thing would be doing nothing.

 

It only took you 6 years to figure it out. I feel relieved!

 

So, have you been missing payments or the ex? Or is it both of you? If it's just her, make it her problem. Tell her to pay up or you'll let them know where she is. (I'm assuming you know where she is.)

 

Is your ex the one using the van? If so, lead the repo man to that thing and give him the keys. They'll sell the car and they may or may not come after you for the deficiency balance. If they do, your wife is on the hook for her share, too. If they did want to come after you for the deficiency, they'd have to sue you and serve you and get a judgment. That's a big pain in the ass and gives you some leverage to negotiate with them on what if any amount you might be able to pay in deficiency.

 

This is of absolutely no help, but I had my car repossessed on accident.

 

i really doubt they can garnish your wages. and if you were both listed on the debt and divorce settlement didn't take care of legal ownership, the credit union can go after either one of you.

 

See if a law firm can recommend a Legal Aid Society organization. Some of them give free advice, or reduced rates.

Also, if there are any colleges in your area, check and see if lawyers help out students there too for free. When I was in college, there was a free legal service that I had to use once to discuss options against a landlord.

 

Put a claim in with BP. Tell them you were a shrimper.

 

No offence, but this is a key part of the situation which you omitted when you started the thread.

So the innocent question about repossession now takes on a tone of pattern of behavior. If you coudlnt afford the van, don't buy it, and certainly don't treat it like such shit that you can't sell it.

I know I'll sound like a prick, but the previous poster who recommended declaring bankruptcy as a "simple" solution fails to recognize that those costs are / will be recovered from other borrowers, through higher rates or larger deductibles etc.

 

Tough shit. Not like anyone else on the face of the earth gives a fuck about you when you're at your lowest moment. That said, $4k is not worth going through bankruptcy and he said he can't anyway. Time to start banging the monkey, as Jim Rome would say. Hit those phones, call up the credit unions, lawyers, free legal aid clinics, and see what your options are. I'd take a $75 payment to talk to a lawyer for 30 min than not having a clue what to do in a shitty financial situation. In any legal situation, never be cheap up front. That's the most important time to know what you are doing.

 

He should borrow more money. Maybe he'll qualify for a Federal bailout.