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Greetings, I need help! 

I have an auto loan that is in the process of being charged off. The bank (wellsfargo) has been attempting to repossess the vehicle for some time, however I've managed to keep it in my possession. I owe roughly 16k on the vehicle but got WF to agree to a 10k settlement offer. I don't have 10k or the means to gain that money in a lump sum. My credit score is terrible (480) but my personal habits and financial habits have drastically improved since I put myself in this situation. I am attempting to get a 10k loan to pay off the settlement (and get my credit/my consigners credit back on track) but I am having difficulty finding a place that will consider my situation. I've attempted to arrange a payment plan with WF to pick up where I left off with the loan but they won't have it. I am at a loss of what to do and am open to suggestions! 

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37 minutes ago, Donlawl said:

My credit score is terrible (480) but my personal habits and financial habits have drastically improved since I put myself in this situation. I am attempting to get a 10k loan to pay off the settlement (and get my credit/my consigners credit back on track) but I am having difficulty finding a place that will consider my situation.

You will not find a lender who will loan you five figures with a defaulted car loan and pending repossession combined with a credit score that low.  You would need a credit score at or near 700 for a personal loan of that amount combined with 2 years of on time payments and good credit/debt management and debt to income ratio.

39 minutes ago, Donlawl said:

I've attempted to arrange a payment plan with WF to pick up where I left off with the loan but they won't have it.

Every auto loan as an acceleration clause in it that states when you default the entire balance becomes due.  Once your default went past 60 days and a repo order was issued you lost any leverage to rehab the loan absent a large lump sum payment bringing it current.  

40 minutes ago, Donlawl said:

I am at a loss of what to do and am open to suggestions! 

Unfortunately there is no good solution to this that is going to allow you to keep this vehicle.  You have the added problem that you have been illegally concealing the vehicle from the bank and their repossession agent(s) for the past 4 months.  They could haul you into court and charge you criminally for deliberately hindering the repossession.

I don't know what your debt situation is but you might want to speak to a bankruptcy attorney and see what options might be available.  I am afraid you are going to lose this car though.

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21 hours ago, Clydesmom said:

They could haul you into court and charge you criminally for deliberately hindering the repossession.

Only a government entity can initiate criminal charges.

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3 hours ago, Harry Seaward said:

Only a government entity can initiate criminal charges.

If the lender feels the consumer is deliberately concealing the vehicle from repossession depending on what state they have 2 options.  In some states they simply have to go to the local Magistrate or police station and can swear out a warrant for their arrest.  (GA allows this)  In other states they can institute court action almost similar to a debtor's exam that requires the consumer to come to court and produce the vehicle and failure to comply results in arrest.   Either way the government is carrying out the action but the lender is initiating it.

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That could be true Harry but Wells Fargo can still haul them into court to find out where the car is at. They can also try to get a writ of replevin which allows the sheriff office to enter a private residence in search of the car. Either way, Wells Fargo will get the car and if the OP continues to play games to hide the car, they could very well end up with criminal charges against them, at least for contempt of court.

As to the OP, I agree with Clydesmom on this one. There is no way any respectable finance company is going to loan 5 figures to the OP based on what they have said. Their best bet at this point is to offer to turn in the collateral themselves in return for Wells Fargo agreeing not to go after them for a deficiency balance. The OP does not have much negotiating power here but has some currently. Once Wells Fargo gets the car, they might as well declare BK because they will be on the hook for the loan plus all the legal fees and repo fees after taking off what the car will sell for at auction. This could be approaching $25k - $30k at this point and climbing.

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