Auto repossession

[Barrelrnr]

What is the name of your state? Florida

I need to know what my options are. My finance company says I am three months behind on my truck payment and sent someone out last night to pick up the vehicle. I have been making a payment every month , but somewhere along the lines I got behind. they cashed the last check I sent on June 12, but claim it was for a prior payment. when they came, the truck was not here but at a friends house getting some repairs. I called the finance company today and offered some money ($400) and asked what I could do to stop the repossession and they said that my only options were to give up the full amount delinquent ($940) or surrender the vehicle. I tried to explain that I could not come up with that much money in one day and they were unsympathetic. My boyfriend told me that there was nothing they could do if they could not find the truck and that I should keep it from them for a couple of days and try to come up with the money. I know if they get the truck, they will auction it and try to charge me $3-4000 for the difference. Legally what can happen to me if I keep the truck from them for a few days ? she mentioned taking me to court if I did not surrender-but what would happen there? can they proceed if I come up with the money in a few days or even before the court date? doesn't the fact that I have sent money every month for 6 months show that I have been trying?
PS- I just found a statement on a nother web site that said hiding a car from a bank is a crime-what is the penalty?

 

[JETX]

Q1) "Legally what can happen to me if I keep the truck from them for a few days ?"
A1) Nothing. They will just keep trying to find it.

Q2) "she mentioned taking me to court if I did not surrender-but what would happen there?"
A2) They (the repo or collection agent) can't take you to court... only the creditor can. And doing so would take a month or more.

Q3) "can they proceed if I come up with the money in a few days or even before the court date?"
A3) Yes. The proplem you have is that most lender agreements have an 'acceleration' clause, which simply means if you breach the agreement, the full amount comes due. So, if you intend on keeping the vehicle, you really need to work with them and get your payments caught up.... even if you have to borrow the money.

Q4) "doesn't the fact that I have sent money every month for 6 months show that I have been trying?"
A4) It only shows that you have done what you agreed to do (when you signed the loan agreement). Regretably, that 'good will' disappears the minute you do NOT do as you promised.

Q5) "PS- I just found a statement on a nother web site that said hiding a car from a bank is a crime-what is the penalty?"
A5) There must be extenuating circumstances in the 'other' situation. Are you sure that the bank didn't obtain a judgment against the debtor and the debtor then attempted to hide the 'security' (the vehicle). What is the site??