Repo question?

[Anonymous]

I speak from experience on this. I had a repo back in 2012.  It too just stayed on my credit as a charge off which i didnt intend to pay. That is until they got a judment filled against me and levied my bank accts and garnished my wages. It was horrible. Dont do it. I truly intended on just leaving it on my report as a charge off and not paying it. I was just going to let it fall off in 2019. They completely disallowed me of that notion.  Imagine checking your bank acct and there are $0 dollars in it when you had $3000 in it the day before. Or getting your check and its only $324.00 because of the garnishment.  Nobody is saying it so I will. i mean so lets forget about it being FICO suicide. That can be fixed overtime. But what about when you cant pay your rent till the garnishment is paid up.  It would be STUPID to to this. DONT DO IT!! 

[Anonymous]

I dont even know who to talk to try to make arrangements to pay it? Exeter said they sold the debt, how do i find out who it was sold to if they aren't reporting?

[Anonymous]

at this point im nervous to even draw attention to it because after bills i only have about $100/wk left for groceries, gas and spending and i have basically no available credit for "emergencies", just 2 secured cards for $200 each.... so i feel like if i call and draw attention to it when i cant afford to pay what if that prompts them to pursue a garnishment.. that would basically be my only option and i get that its financial suicide... but would i be better off to wait until maybe like tax time when i could at least offer them something?

[cjane1]

Songburd18, where you receiving letters or calls from the CA before the levy?

[Anonymous]

No calls. But they said they tried to contact me via mail. But they sent it to a very old address so I never got it.  But never received even one phone call.

[Anonymous]

was it showing on your credit report as a charge off with a dollar amount?  I dont even know who i would contact to try to arrange payments? 

Profile

COMPANY	Exeter Finance	Exeter Finance Llc	Exeter Finance Corp
LOAN TYPE	Vehicle Loan	Vehicle Loan	Vehicle Loan
ACCOUNT NUMBER	XXXXXXXXXXXXX1001	XXXXXXXXXXXXX1001	6806XXXXXXXXXXXXX
ACCOUNT HOLDER	Individual	Individual Account	Individual
DATE OPENED	Apr, 2013	Apr, 2013	Apr, 2013
Status Payment Timeline History Terms and Remarks STATUS DATE Dec, 2016 Mar, 2015 Dec, 2016 CONDITION Closed Closed Closed LAST ACTIVITY Dec, 2014 Dec, 2015 Not Available BALANCE $0 $0 $0 STATUS Charge-off Charged off as bad debt Unpaid balance reported as a loss by credit grantor       1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 9 10 11 12   2015 2016   LATE 30 DAYS 3 times (Dec 2014) 0 times 3 times (Dec 2014) LATE 60 DAYS 3 times (Jan 2015) 0 times 3 times (Jan 2015) LATE 90 PLUS DAYS 22 times (Nov 2016, Oct 2016, Sep 2016, Aug 2016, Jul 2016, Jun 2016, May 2016, Apr 2016, Mar 2016, Feb 2016, Jan 2016, Dec 2015, Nov 2015, Oct 2015, Sep 2015, Aug 2015, Jul 2015, Jun 2015, May 2015, Apr 2015, Mar 2015, Feb 2015) 0 times 22 times (Dec 2016, Nov 2016, Sep 2016, Aug 2016, Jul 2016, Jun 2016, May 2016, Apr 2016, Mar 2016, Feb 2016, Jan 2016, Dec 2015, Nov 2015, Oct 2015, Sep 2015, Aug 2015, Jul 2015, Jun 2015, May 2015, Apr 2015, Mar 2015, Feb 2015) WORST DELINQUENCY 90 days past due None Reported Collection HIGH BALANCE - $17,728 - TERMS (74 Months) - 74 Months SCHEDULED PAYMENT - - - CREDIT LIMIT - - - REMARKS Charged off account Fixed rate Purchased by another lender Purchased By Another Lender

[Anonymous]

Yes it showed as a charge off with a balance on it.  Originally I owed about $7000.00 on the car. They sold it at auction for about $5000.00 So the balance they reported as owed on the charge off was about $2000 give or take a few hundred dollards. 

[Anonymous]

Ahhh! this confuses me so much, idk why mine doesnt show an amount and shows the worst delinquency as a 90 days past due. It would seem to me like i should have another collection from whatever agency bought the debt....

[Anonymous]

Do not let it go to repo if you want another car that is more than a beater for many years to come.   Transmissions problems can be corrected by finding a transmission through a salvage yard. I found a transmission for DW Jeep at salvage yard with 1 year warranty for $900.  I then paid another $400 to friendly small but certified garage to put it in.  That was 2 years ago and it runs great.

[Anonymous]

I'm kind of in a similar situation. Voluntary repo (horrible idea but not concerned about credit score at the time) due to moving out of state to Chicago, so don't need a car at all and wasn't going to be able to afford payments plus my insurance tripling. UICCU, the credit union back in Iowa, has kept the account in their own collections department. Was on a payment plan but couldn't afford that anymore either. SOL in Iowa and Illinois both is 10 years, so either way there I'm screwed. Ever since I stopped making the payments back in January, I have only received emails from the collections guy asking me to update my financial info to continue payments. Every 5 days they come in around 1am. When I first stopped being able to make payments he warned me that if it's sold the CA would sue, but UICCU wouldn't. I thought that was interesting. Regardless I can't afford them between paying for school and rent, yada yada. By Illinois law I'm judgment proof due to my low income, so I'm not too concerned.. yet. I'm not going to be in school forever so hoping to make a settlement offer once I make more money. Offered a settlement previously and they refused, stating they would only accept the full $9,000. Long story short. Don't do a repo. It sucks.