Repo Question HELP

[Anonymous]

Hello,  My husband has a repo on his report as judgement.  Filed 6/01. Amount owed was $9660 I recently contacted the lawyers office handling they said the amount owed is now $11k. And they will only except $9k as settlement offer.  HELP what approaches can we take to get rid of this nightmare.  We can afford to pay the $9k at the moment we are saving up for a house.

Thanks everyone! 

[Anonymous]

If the car was repo'd logically what you owe should be lowered by what they were able to resell for. (OR HAVE THEY ALREADY ADJUSTED FOR THAT?)I would try to find that out and offer the difference plus their repo and sales costs. This might be a case where bringing a lawyer into the negotiation might prove fruitful. Better to pay a lawyer for an hour's work than let them run all over you.

Message Edited by rhinocl on 08-07-2007 06:58 PM

[Anonymous]

I would offer a pay for deletion, where if you pay the 9,000 in full at one time, they will delete all negative comments/Charge off, lates and repos, and tradeline.

Otherwise, I would pay them, but in small, affordable monthly payments. That will probably light a fire with them so they can get it all at once.

Goodluck with the househunting/buy.

Welcome to the forums.

Cecilia

[Anonymous]

You definitely want to look into hiring a lawyer. Also, GET EVERYTHING IN WRITING. I WOULD NOT EVEN TALK TO THEM ON THE TELEPHONE AS IT WOULD BE YOUR WORD AGAINST THEIRS.

[Anonymous]

Hmmmm... I'm not familiar with judgements and how long they stay on your report. If they fall off after 7 years, then it looks like sometime next year it will disappear anyway. After that, with the statute of limitations probably already having expired, I think this should go away all together.

Either way, I would definately hire a lawyer to simply review this for you for a few hundred dollars and see what happens.

[Anonymous]

They claim the amount owed has already been adjusted.  We have talked to them and tried to offer a reasonable monthly payment $300.  But, they want to get to personal wanting to know how much we make, who we work for, so forth and so on.  I guess we should invest in a lawyer.

Thanks for your suggestions.   

[Anonymous]

Don't tell them any of that. Only amount that you can pay and that's it.