car payment

[newlad35]

What is the name of your state?Michigan
I financed a car two years ago and have not been keeping up with the payments
I haven't made any payments in 18 months nor have I driven the car it is the garage.
recently I was contacted by a fraud investigator and my response was I don't have the car anymore. can the finance company report the car stolen.

[seniorjudge]

Originally Posted by newlad35

What is the name of your state?Michigan
I financed a car two years ago and have not been keeping up with the payments
I haven't made any payments in 18 months nor have I driven the car it is the garage.
recently I was contacted by a fraud investigator and my response was I don't have the car anymore. can the finance company report the car stolen.

I suspect you will be arrested shortly.

[newlad35]

Why, I didn't know it was illegal not to pay your bills

[newlad35]

Originally Posted by seniorjudge

I suspect you will be arrested shortly.

When did it become illegal to owe money on a loan.
if that were the case the half of america would be in jail for not paying their bills.

[Chien]

Is this a New Year's prank?

You've already dug yourself a hole so deep, why do you even care what they report? But the answer to the question is yes, of course they could. And, under the laws of Michigan, it may have been stolen.

Several states make the crime of larceny by false promise a part of their penal code. Yours may as well or have something that's the eqivalent.

Let's see: You lied to the invesigator (and more than you admit - the investigator didn't just say "oh, thanks, just checking", when you said you didn't have the car). You haven't paid in 18 months of the total of 24, but you don't say that you made the other 6 payments or paid anymore than was necessary to drive it off the lot. You're intentionally concealing the car. If your state requires insurance, my bet is you don't have it. If the finance company thnks it can't repo the car, sell it and come after you for the difference, they'll just sue you on the whole contract. If you just throw open the garage door and exclaim "eureka, I found it", you're already guilty of fraud. Should this list go on? Because it can.

C'mon, you've had your little joke. No one is that obtuse and still breathing.

Originally Posted by Chien

Is this a New Years's prank?

You've already dug yourself a hole so deep, why do you even care what they report? But the answer to the question is yes, of course they could. And, under the laws of Michigan, it may have been stolen.

Several states make the crime of larceny by false promise a part of their penal code. Yours may as well or have something that's the eqivalent.

Let's see: You lied to the invesigator (and more than you admit - the investigator didn't just say "oh, thanks, just checking", when you said you didn't have the car). You haven't paid in 18 months of the total of 24, but you don't say that you made the other 6 payments or paid anymore than was necessary to drive it off the lot. You're intentionally concealing the car. If your state requires insurance, my bet is you don't have it. If the finance company thnks it can't repo the car, sell it and come after you for the difference, they'll just sue you on the whole contract. If you just throw open the garage door and exclaim "eureka, I found it", you're already guilty of fraud. Should this list go on? Because it can.

C'mon, you've had your little joke. No one is that obtuse and still breathing.

WOW!!! I guess that takes care of that!!

I wonder if the OP is still conscious after getting hit in the head with that cement block?

[Chien]

I hadn't planned to devote any of today to thinking up crimes and torts for you, but it's irresistable, and I've got a couple more. I'll give you one as a carrot:

The financing agreement required that you carry insurance and name the financing company as the loss payee until the car was paid off. Tell me you've had that insurance for the last 18 months, while the car was hidden in a garage, and this idea is no good. But, if you haven't, won't the finance company be surprised when they try to make a claim for the "stolen" car? What a hoot, huh?

I'm going to sit on the other ideas until you "take a meeting" with a Michigan criminal attorney, but I think I have a solution for you. If this whole thing is for real, it gets licensed as a board game. Along the lines of "those other board games", with "get insurance" and "car really gets stolen" etc. cards.

It's very addictive. You have a percentage of the licensing rights, to make incarceration comfortable, and you can think of whole families sitting around playing "Save Sammy From The Slams" or "Does Donny Do Time?".

Post back if the idea appeals. I know people who know people who know people who know people who know people.

[newlad35]

Originally Posted by Chien

Is this a New Year's prank?

You've already dug yourself a hole so deep, why do you even care what they report? But the answer to the question is yes, of course they could. And, under the laws of Michigan, it may have been stolen.

Several states make the crime of larceny by false promise a part of their penal code. Yours may as well or have something that's the eqivalent.

Let's see: You lied to the invesigator (and more than you admit - the investigator didn't just say "oh, thanks, just checking", when you said you didn't have the car). You haven't paid in 18 months of the total of 24, but you don't say that you made the other 6 payments or paid anymore than was necessary to drive it off the lot. You're intentionally concealing the car. If your state requires insurance, my bet is you don't have it. If the finance company thnks it can't repo the car, sell it and come after you for the difference, they'll just sue you on the whole contract. If you just throw open the garage door and exclaim "eureka, I found it", you're already guilty of fraud. Should this list go on? Because it can.

C'mon, you've had your little joke. No one is that obtuse and still breathing.

NO, I'm guilty of not paying my bills
the total # of months is 60, all I wanted was a little advice not to be ridiculed
SHOULD I GIVE THE CAR BACK OR FILE BANKRUPTCY I REALLY DON'T KNOW
CAN YOU HEALP ME PLEASE>

[newlad35]

Originally Posted by Chien

I hadn't planned to devote any of today to thinking up crimes and torts for you, but it's irresistable, and I've got a couple more. I'll give you one as a carrot:

The financing agreement required that you carry insurance and name the financing company as the loss payee until the car was paid off. Tell me you've had that insurance for the last 18 months, while the car was hidden in a garage, and this idea is no good. But, if you haven't, won't the finance company be surprised when they try to make a claim for the "stolen" car? What a hoot, huh?

I'm going to sit on the other ideas until you "take a meeting" with a Michigan criminal attorney, but I think I have a solution for you. If this whole thing is for real, it gets licensed as a board game. Along the lines of "those other board games", with "get insurance" and "car really gets stolen" etc. cards.

It's very addictive. You have a percentage of the licensing rights, to make incarceration comfortable, and you can think of whole families sitting around playing "Save Sammy From The Slams" or "Does Donny Do Time?".

Post back if the idea appeals. I know people who know people who know people who know people who know people.

will you just answer the question please.

[weenor]

Call them and tell them to come get the car. They will sell the highly devalued car and take a judgment against for difference you owe under the contract. Better to have dollar judgment on your credit than a felony theft by deception on your record.

With the change in the Bankruptcy laws, in order to discharge that debt in a Chapter 7 you will have to show that you do not have the ability to pay the debt after you pay to go to credit counselling. Good luck with that!!!

[Chien]

Seriously?

I don't think any of us would spend our time here if we didn't realize that people run into serious problems and look for the best and sanest way to solve them without making the damage worse. With that condition and those objectives in mind, you did neither, so don't be surprised, offended or defensive by the initial responses. If you disbelieve any of that, read the problem-solving efforts reflected on the remainder of the forum.

That said, weenor is right and is recommending something that you should have done long ago. Once the car is repossessed, the likely senario is that it will be sold at auction and they will sue you for the differential between market price and contract price. In a deficiency balance situation, that can be substantial, because they can and almost certainly will add the costs of reclaiming the car, putting it into marketable condition and will then add attorneys' fees and court costs to the unpaid contract price. They'll deduct what they get for the car, and the differential will be a big number. You've made the whole thing worse by adding 18 months of depreciation to the potential sales price.

In addition to the fact that this is potentially an abnormally costly situation to begin with, you've lied and concealed. Can't help you there and think you should keep a good thought that this is a season of compassion. If you understand the facts, can you really be so surprised at the incredulous responses that you received? I'd like to be more gentle and diplomatic and would be under other circumstances, but you've just been dumb. Your original post didn't even suggest that you wanted to try to fix the problem now, so don't pull an attitude until it's clear that you acknowledge that you need and want help.

[debtcollector`]

Originally Posted by weenor

With the change in the Bankruptcy laws, in order to discharge that debt in a Chapter 7 you will have to show that you do not have the ability to pay the debt after you pay to go to credit counselling. Good luck with that!!!

Can't discharge fraud. He's stuck with it.

DC

[Chien]

DC - Do they realize we're in the same line of work?

Maybe no one believes either of us.

Happy New Year.
Chien

[weenor]

Originally Posted by debtcollector`

Can't discharge fraud. He's stuck with it.

DC

Hey DC- I was just trying to positive and hopeful for the OP in this time of giving. There is a different standard of proof for fraud in BK court, so it is possible (tho unlikely) that the car people would not be able to prove that car was procured through fraud.

[debtcollector`]

Originally Posted by Chien

DC - Do they realize we're in the same line of work?

Maybe no one believes either of us.

Happy New Year.
Chien

You buy 'em books, take 'em to school and all they want to do is eat the teacher.

What can you do?

Happy New Year!

May your resolutions live longer than the hang-over.