cancel
Showing results for 
Search instead for 
Did you mean: 

Auto Not Reaffirmed, Offered Money for Repossession

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Member

Auto Not Reaffirmed, Offered Money for Repossession

So, in our CH7 BK case, we did not reaffirm our auto loan and planned on surrendering the vehicle. To date, the lender has not made any attempts to claim the property, not have they communicated with us at all. We received a letter in the mail from a recovery company stating that they'd give us $1,000 if we allowed them to pick the vehicle up and they'd deal with the lender directly.

 

Has anyone experienced this? Is it legitimate?

Message 1 of 5
4 REPLIES 4
New Contributor

Re: Auto Not Reaffirmed, Offered Money for Repossession

Your title has a lien on it because you still owe a balance. I doubt if it's a legit recovery offer. 

Message 2 of 5
Senior Contributor

Re: Auto Not Reaffirmed, Offered Money for Repossession

Sounds like a scam to me. Do NOT surrender the car to anyone unless they have a written, signed document stating the lender authorizes them to take possession of the vehicle on their behalf.


Fico 08: 734/716/734 TU/EX/EQ
Message 3 of 5
Member

Re: Auto Not Reaffirmed, Offered Money for Repossession

Thanks for confirming my suspicions; I didn’t understand how they could do this legally. Pretty pathetic practice to prey on individuals in a tough situation already.
Message 4 of 5
Contributor

Re: Auto Not Reaffirmed, Offered Money for Repossession

Walking, talking, quacking like a scam. Lol Once we file for bankruptcy our information is shotgunned all around public channels. If you’re still considering it, I would call them asking lots of questions. 🙂




Started from the bottom now I'm here. Smiley Happy
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.