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About to be repoed


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I'm assuming this is the right forum for this. Anyway, my girfriend's car is in the process of being repoed, currently i have the car at my house and i've been driving it. Also, there is a private investigator trying to contact her because he can't find the car. I'm assuming its regarding the car. She has not called him back, nor has she talked to the bank and its been 3 months. This alledged "private investigator" has been to her house and talked to her father. I'm just wondering if anyone has any advice or any last ditch effort to get out of this.

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You have to pay them what you owe them - that means calling the creditor. They may very well have accelerated the payments, meaning the entire balance is due - you won't know until you call. It's either the money, or the car.

Also, private investigator or not, he's a contracted agent in a self-help repossession, and therefore regulated under the UCC - that means "no breach of the peace" - included threats of jail, driving a stolen car, warrant for arrest, and all the other great things these slimebags spew.

The creditor will simply get an attorney and she'll be served to give up the car - that's how it should be done, thereby scrapping these hired goons who run around thinking they're cops.

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Thanks Docdon for the quick response and great advice. Would it be possible for her to avoid repo fees if she returns the car on her own instead of them coming out to get it? Also, she owes quite a bit more than the car is worth, so after the repo goes through can the bank come after her for the difference, and in what ways? I'm just looking at worst case scenario. Thanks again.

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Chances are, they won't waive the "service fees". Once she turns in the vehicle, it will be sent to a company the OC has set up to conduct auctions - that usually involves towing. She'll then have a voluntary repossession on her report. One thing I can't stress enough is to take pictures of the vehicle. If anything is damaged in transit, it'll be "your fault".

You'll want to look over the UCC (Uniform Commercial Code), Part 6, Default. http://www.law.cornell.edu/ucc/9/ You'll also want to check your state laws regarding the refund of any unrealized interest and how that amount is "rolled back" after the disposition of collateral.

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You have to pay them what you owe them - that means calling the creditor. They may very well have accelerated the payments, meaning the entire balance is due - you won't know until you call. It's either the money, or the car.

It also depends on how new the loan is. And if it has too much negative equity, then it is probably too new of a loan. A lot of banks figure that if you are having problems with making payments on the first few months or even within the first year, then they correctly deduce how are you going to pay off the note...

But DocDon is right... You got to call the bank... Even if it is just to voluntarily return it...

If it is game over, then that is something that she has to accept because that car WILL get repo'd regardless of where you hide it...

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Even with negative equity, they will sell the car for a fraction of what it's worth and what she owes. They will then come after her for the difference between what it sold for and what she owes plus tacking on all the repo fees, storage fees, prep fees, towing, etc. If its a lot of money she will likely be sued.

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Back in 1999, I had a repo man come to my door. I was in the middle of an expensive, ugly divorce and times were tough. I had a car I was behind on, but I needed to stall them for a couple of weeks until the divorce was final and I could get another car (from a buy here pay here- that was a mistake)

He showed me a badge with an ID and told me he was licensed by the state of Florida as a repo agent and he was there to get my car. At the time, I was hiding the car from them, so I laughed and told him good luck.

He then told me that he was conducting an investigation into the whereabouts of my car and if I didn't cooperate, I was going to jail for impeding an investigation. I told him no way. He then reached through my door and grabbed my arm and pulled me outside, demanding the car keys, he told me he was placing me under arrest for auto theft and fraud. I was genuinely scared at this point. Due to some quick thinking on my part (OK- I will admit- I threatened to shoot him if he didn't let me go), he left without the vehicle.

I eventually turned the car in and later got the account deleted, but I really wish I knew then what I know now. I would be a rich man.

Impersonating a police officer, threatening me with arrest, assault, battery, attempted robbery, home invasion- I wonder what else?

These dirtbags will do or say anything.

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He then told me that he was conducting an investigation into the whereabouts of my car and if I didn't cooperate, I was going to jail for impeding an investigation. I told him no way. He then reached through my door and grabbed my arm and pulled me outside, demanding the car keys, he told me he was placing me under arrest for auto theft and fraud. I was genuinely scared at this point. Due to some quick thinking on my part (OK- I will admit- I threatened to shoot him if he didn't let me go), he left without the vehicle.

I eventually turned the car in and later got the account deleted, but I really wish I knew then what I know now. I would be a rich man.

That is the strength of collectors... Fear and intimidation...

Now here is a different viewpoint. I actually like the TV shows on cable about repo men. They are fun to watch. However, I also know that since they are in essence, bill collectors, they probably lie and deceive every step of the way (but not on television)...

I think that there are probably some legitimate repo men but it is so easy to lie and threaten...

Too bad you didn't call the cops right away and a good lawyer...

Although too many outfits are just nickel and dime operations unless you got a corporate one that was doing the repo...

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What amazes me is how now that the OC's are being held liable for the actions of their contracted agents in a self-help repossession, why they continue to go that route... they have always had the ability to go through the court to obtain their secured property, without worry of litigation from a breach of the peace...

But hey, if they want to continue to throw money down the drain, more power to 'em...

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