They Came to get my Son's truck tonight!

[mdl]

He has been unemployed for a year. We have been making his payments. But I have got behind because of our Chapter 13. Its 2 months behind. The guy was real nice, I guess. He asked if my son was here, I told him no...He asked did he live here and I told him on and off....which is true. He stays with his girlfriend and her family mostly, in another town. The guy didnt ask where or for his phone number. I told the guy that we hadnt recieved anything from the credit union - he said usually when they issue a request for repo, they dont send anything more. He said at this point, they either want the truck or it to be paid in full. I told him I would call the CU tommorrow. I dont have enough money to pay it off, but I have almost enough to catch it up. He only owes about $6500 and it is due to be paid off in October after 5 years of payments. I dont want him to lose it....
Any suggestions? No smart *** answers, PLEASE......I dont need anymore things that upset me!

[AngelinaCatHub]

We are not accustomed to giving "smart @zz" answers. We do get some Trolls here and there who play games but are usually discovered soon and banned.

So tell us, did the man leave the truck or not? If he left it that would be very nice of him. If not, he has a job to do. Contact the bank tomorrow and work something out as they really don't want the truck. You may be penalized for the tow man, but that would not be too much. Be not dismayed about your son and your predicament. Just do what you can November 2012 to help us all out of this mess. Best to you my friend. 'Hub

[mdl]

No, my son was not home and his truck was not here.
Its just that I have screwed EVERYTHING in mine and DHs life up since his stroke by trying to keep going like nothing happened.
And regardless, I can't NOT help our son.
Thanks and I will let you know what happens.

And I WISH November was here NOW!!!!!!!!!!!!!!!!!!!

[jacko]

So your blaming POTUS for your misfortunes? I guess you have to scapegoat someone.

No, my son was not home and his truck was not here.
Its just that I have screwed EVERYTHING in mine and DHs life up since his stroke by trying to keep going like nothing happened.
And regardless, I can't NOT help our son.
Thanks and I will let you know what happens.

And I WISH November was here NOW!!!!!!!!!!!!!!!!!!!

[LadyInTheRed]

So your blaming POTUS for your misfortunes? I guess you have to scapegoat someone.

Where did that come from? I assume some other thread in a politically related topic. It does not belong in a thread where somebody is asking for advice. Please take the conversation back to wherever it originated.

[LadyInTheRed]

Where did that come from? I assume some other thread in a politically related topic. It does not belong in a thread where somebody is asking for advice. Please take the conversation back to wherever it originated.

Sorry, Jacko, I now see where it originated. Don't know how I missed it. So I redirect this at both you and mdl. Please keep politics in political threads. Thanks.

[KAM465]

"I dont have enough money to pay it off, but I have almost enough to catch it up. He only owes about $6500 and it is due to be paid off in October after 5 years of payments."

I think MDL is referring to the fact that the truck is scheduled to be paid off in October, hence the statement "can't wait until November".

[AngelinaCatHub]

"I dont have enough money to pay it off, but I have almost enough to catch it up. He only owes about $6500 and it is due to be paid off in October after 5 years of payments."

I think MDL is referring to the fact that the truck is scheduled to be paid off in October, hence the statement "can't wait until November".

No, Mdi and LIR as well as Jacko were responding to my comment about the the right thing in 2012. Yes it was a political remark, but a light one. The thing is, in my opinion, our political situation is a strong reason why we are all here in the Bankruptcy forum. It is difficult to hide my feelings even when helping an OP. I'll try to contain this flaw but I'm concerned about our Country and it shows through.

That being said, back to MDl. MDl since the truck has been reprieved for a day or two, I'd take a bit of that money down to talk to the mortgage company. GET IN WRITING an agreement to extend a catch up period. They want the money not the truck but don't let them take both, so you will need some sort of assurance that the order for pick up will not go Forth. Don't trust a verbal promise. 'Hub

[AngelinaCatHub]

So your blaming POTUS for your misfortunes? I guess you have to scapegoat someone.

Jacko, you and I both know the reason for your post and it was not appropriate here. It was not a comment worthy of our goal of helping a person in trouble, with a hand out to us for aid. You were never treated this way but you have come across on more than one post with a caustic remark. Let's not be the cause of bringing shame on this forum.

Personally, I will make an attempt to not let my politics show through on my posts. Lady in Red was right. 'Hub

[KAM465]

I missed that tread. But I do agree in part thank many are in this position because of poor political decisions made over the past several years. I must say that both parties have played a part and some more than others.

[LadyInTheRed]

Okay, I think everyone has had their say now. Hub, I appreciate you taking responsibility for your part. I must have been too tired to be posting last night because I missed your comment altogether and I even looked for it in your post. Everybody, please keep any further posts in this thread to the original topic. Otherwise, I'll have to close the thread. There are other places for the political conversation.

[DSPatch]

To the original poster, if your son wants to keep the truck then that truck needs to get real scarce real fast. I went through something similar a few years ago and the loan company was very willing to negotiate right up until they found the car and then they wanted all or nothing. Get any deal in writing.

Obviously he cannot park it at your house, but also do not get anywhere near anyone who was listed as a reference or any place he works, any family or anyone/anywhere he has ever known. Essentially the truck cannot be findable by the repo man. Now that the repo order is out that man has a job to do and it is not helping you, it is finding and securing that vehicle - period.

So stash the truck in a safe place and immediately try negotiating with the loan company while you still have control of the collateral.

If he cannot get caught up and get it paid off then surrendering it will end a lot of stress on everyone's part. When I made the decision to file a 7, I cleaned everything out of it and waited. 10 days after the Chap. 13 was dismissed a tow truck showed at 9 pm. The driver was kinda surprised when I strolled out with the keys and offered him a cup of coffee.

Good luck to you and your son, you are definitely not alone in this.

patches

[bcohen]

First, I would compare the Blue Book value of the truck right now to how much is still owed on it. If the Blue Book value (in average/good condition) is less than what your son owes on it, i.e. he's "upside down", then I'd suggest surrendering it. It's not like he will never be able to own another truck ever again.

If the truck is worth significantly more than what he owes on it, then I'd suggest hiding it somewhere where it cannot be reposessed, such as in a locked garage in a friend or out-of-state family member's house. Make sure that he NEVER drives or parks the truck in ANY parking lot--including an employer's or shopping center's parking lot--or on any city street. With the truck secured from being repo'd then you(and he) can negotiate with the credit union.

Second, you made a mistake admitting that your son sometimes lives there/has contact with you. Before I quit paying on my unsecured debts, I told my parents that collectors might be calling, and to say that they do not speak to me anymore and don't know how to reach me. They agreed, and never admitted my whereabouts or contact information to any creditors. That is what you should have done.

Third, if you can catch up the missed payments, you can probably negotiate with the credit union. I would suggest going there in person, asking to see the branch manager, and suggesting that you will pay right now for the missed payments if they will agree in writing to cancel the repo. No agreement, no payment.

[justbroke]

Personally, I don't advocate hiding property unless you have a legitimate reason. That reason could be that you intend to become current in the next few days.

The repo-man is smarter than most people think or want to believe. Securing the vehicle in a locked garage will always stop the repo-man. However, if you do move the vehicle, they will take it where you least expect it (parking lot of the local Wal*Mart). They could also place a GPS device on the vehicle, or there is already a recovery device on the vehicle! (Some lenders require them.)

In any event, the best thing is to immediately contact the credit union first thing in the morning and work something out. This may not stop the impending repossession, but at least you would have tried to work things out. Please know that hiding it or locking it up only works for a certain period of time (don't ask me how long). Eventually, the lender will seek an Order of Replevin from the court and you'll be compelled, under court order, to surrender the vehicle.

Just looking back, if there is $6,500 to payoff by October, and only two payments past due, that payment must be close to $800+ a month! Is this some sort of work truck?

[mdl]

Thanks for the replies. I have a copy of the certified check that was sent to the credit union overnite on Friday. They told us the amount to prevent repo and that is what we paid.
But, now.....the truck is in my yard because he came by yesterday and right before he got here, the water pump blew. The tow truck is scheduled to pick it up in the morning. So I just keep listening for the repo guy and I will walk out with the copy of the check and the overnight delivery receipt. I am still afraid he will come in the middle of the night. I want to go tape this check to the window. But he was nice when he came last week. Do they HAVE to let someone know they are taking it if it is at a residence? I mean, if my dogs start barking at night and someone is in my driveway, they are going to be met by a woman wielding a .45!
And as far as politics go, I apologize for my comment.