Has anyone ever had a vehicle repossessed?

Yes, I have had a car repossessed, and it sucked.

I was able to get it back, but eventually filed bankruptcy, protecting the car while the case was being litigated.

One day after the judgment was entered, the tow truck showed up. I saw them come on to the work property, got up from my desk, told them to give me 3 minutes to get things out of the car and they could have the keys and take it with no issue. They gladly agreed since it meant they would have no trouble getting it hooked up in the corner parking spot I had it in (innocent decision that morning, even though I knew it was coming).

The credit union will not want to take the car and sell it, knowing they have little or no chance of recouping their money. Work with them and they will work with you. Ignoring their calls will do nothing but hurt your chances.

 

I laughed out loud at this.

 

Financial decisions should originate within the assumption of your second sentence. Not planning for the natural volatility of life doesn't really hold up as a flattering defense in most situations.

/Jeff Goldblum voice

 

I'm afraid that if I just let them take it, they will sell it for a couple of grand and leave us to pay the rest. I believe that's the law in this state. They would file a lawsuit, win, and have my wages garnished.

Because my wife is no longer employed, I believe they would come after me and my fantastic salary, knowing I am a professional journalist.

When we filed bankruptcy, we both were gainfully employed, and more than anything needed to just clear up a bunch of medical bills. We had no intention of not keeping the van at that time. But a divorce means two rentals, two utility bills, etc., not to mention the mound of child support I am paying for an autistic kid.

Believe me, I've thought about trying to sit it in front of a tornado, or finding a sleepy truck driver who could T-bone me in it. I've thought of just driving it into a river and taking the hit on my insurance premiums. But life doesn't really work like that.

And Peyton, I wasn't trying to make you look stupid. I just cringe at certain terms or words that get misused, and once in a while, try to inject them into my conversations on this board. No harm intended, though if you never use "towards" again, but think of me (and hate me) every time you use "toward," then I guess I can handle that. I'm just a little too OCD for some people. Probably where my son got his.

 

Laws vary by state, but if they want to eventually come after the debt and garnish your wages, it's going to happen unless you pay the debt and that's that. They'll sue, they'll win (unless you have some reason you don't owe), they'll try to collect, and eventually they'll show the judge they've made efforts and they'll get the garnishment.

Keep in mind that if you make real bottom-of-the-barrel journalism salary, you may make too little for them to garnish anything.

 

"a man with a tow truck repossessed my car. don't push me cause I'm close to the edge."

 

Look into whether your state has free legal services. Maryland has something called the Legal Aid Bureau for anyone who can't afford an attorney. That's how I was able to lawyer up for my unemployment insurance appeal.

 

They do. Unfortunately, they go by your gross pay (mine's pretty gross). They don't consider things like child support, health care, you know, actual needs.

There's not often a government tit if you are gainfully employed.

 

So 95 percent of the country should never risk spending money on anything because of the chance that life circumstances may fuck them up financially?

 

no, but its shocking how many people declare bankruptcy. I know its legal etc, but I think its fundamentally whats wrong with todays economy.
Yes, businesses do it all the time, but that;s a problem too.
I guess its my Protestant work ethic shit in me -- I just think its too easy
Spend less - live within your means -- all that crap. Not everyone needs 4000 square feet and all the mod cons
Debt is killing the Western world. Isn't that apparent?

 

Not all people who file bk are living in 4000 sq foot homes. Most bk's are caused by medical bills.

 

have you tried making some good-faith payments -- send them $100 or $200 bucks, tell them what's going on, etc.
Try to work with them.