Car never actually repo'd

[ceara19]

What is the name of your state? Texas

My sister bought a car and had it financed for 5 years. Well, about 2 years ago she stopped making the payments on it with 2 & 1/2 years left on the note. According to what she's said, they called and sent letters concerning reposession for about a year and then they just stopped. She hasn't heard a word from them since. The thing is, they never actually repo'd the car. She is at the same address and works for the same company, so all the information the finance company has is up to date. Now she wants to buy a new car and use this one as a trade-in. (I have no idea how she thinks she's going to get an auto loan after defaulting on the last one.)

I've never heard anything llike this and haven't been able to find any info about this kind of situation. My advise to her was to call the finance company and have them come get the car. For some reason, she is under the assumption, that since they have stopped collection efforts and that she has been in possession of the car this entire time it's hers free & clear.

This one's got me perplexed. I've never had to deal with anything like this (Mainly because I pay my bills). Does anyone know what steps should be taken in this type of matter?

 

[zippysgoddess]

Well I am sorry to burst her bubble but not the car is not hers free and clear. They are still entitled to repo or get all of the money owed. If the car does not have enough value to cover the amount owed, they may not want to repo and may just pursue other action to collect their money.

A car loan like this is a written contract and the SOL in Texas for this is 4 years, so she still isn't in the clear on their collection efforts or pursuit of a lawsuit. It might even be different in your state for a secured loan, I am not sure and couldn't find any further information.

However, she will NOT be able to get the title to a car she hasn't paid for and use it for a trade in.

 

[ceara19]

Well I am sorry to burst her bubble but not the car is not hers free and clear. They are still entitled to repo or get all of the money owed. If the car does not have enough value to cover the amount owed, they may not want to repo and may just pursue other action to collect their money.

A car loan like this is a written contract and the SOL in Texas for this is 4 years, so she still isn't in the clear on their collection efforts or pursuit of a lawsuit. It might even be different in your state for a secured loan, I am not sure and couldn't find any further information.

However, she will NOT be able to get the title to a car she hasn't paid for and use it for a trade in.

That's exactly what I told her. She's not the brightest person in the world. I told her, if she thought I was wrong, to go to the DMV and request a copy of the title. I don't even know how she got the loan in the first place. I also can't figure out why they just gave up and quit trying to collect. I had some debt collector harrassing me for 3 years over a $38 debt that wasn't even mine! This is her 3rd auto loan default, actually 4th if you count the time she bought a $60K SUV with a bad check written on an account that had been closed for over a year and she's only 27! Unfortunately, you don't get to pick your reletives!

 

[TigerD]

That's exactly what I told her. She's not the brightest person in the world. I told her, if she thought I was wrong, to go to the DMV and request a copy of the title. I don't even know how she got the loan in the first place. I also can't figure out why they just gave up and quit trying to collect. I had some debt collector harrassing me for 3 years over a $38 debt that wasn't even mine! This is her 3rd auto loan default, actually 4th if you count the time she bought a $60K SUV with a bad check written on an account that had been closed for over a year and she's only 27! Unfortunately, you don't get to pick your reletives!

When did she get out of jail? I don't care want state she is living in writing a hot check for $60k is a ticket to jail. And you are telling me the dealer let $60k worth of car leave their lot without even confirming funds? For some reason I am now having difficulty believing you. ... It's possible, but I think you may be expanding the story a little bit. But then, that is the essence of a good story. A little more characterization and a decent sub-plot, you may have a winner here.

DC

 

[panzertanker]

That's exactly what I told her. She's not the brightest person in the world. I told her, if she thought I was wrong, to go to the DMV and request a copy of the title. I don't even know how she got the loan in the first place. I also can't figure out why they just gave up and quit trying to collect. I had some debt collector harrassing me for 3 years over a $38 debt that wasn't even mine! This is her 3rd auto loan default, actually 4th if you count the time she bought a $60K SUV with a bad check written on an account that had been closed for over a year and she's only 27! Unfortunately, you don't get to pick your reletives!

You should tell her to pull her credit report, and check with the local courthouse....There may be a judgement against her in the near future for the amount she owed on the car plus legal fees****and a possible repo "ding" on her credit.
If that is true, I might venture to say that an attempt to trade in the car could (IMHO) result in a possible theft charge...

 

[TigerD]

Y**************...

panzertanker .... are you a 19K?

DC

 

[panzertanker]

panzertanker .... are you a 19K?

DC

No, I hope not b/c I do not know what that is...
Sorry.

 

[TigerD]

No, I hope not b/c I do not know what that is...
Sorry.

I was a tanker in the Army. 19K is the mos designation for armor.

 

[ceara19]

When did she get out of jail? I don't care want state she is living in writing a hot check for $60k is a ticket to jail. And you are telling me the dealer let $60k worth of car leave their lot without even confirming funds? For some reason I am now having difficulty believing you. ... It's possible, but I think you may be expanding the story a little bit. But then, that is the essence of a good story. A little more characterization and a decent sub-plot, you may have a winner here.

DC

She went to jail alright. It wasn't just the one check either. The total was just under $100K. And these were checks from an account that was closed! I have no idea why the dealer didn't confirm the funds until AFTER she left with the car. I don't know if the salesman just saw dollar signs or if she just completely snowed him over with her lies. What's worse is the fact that they took her current car as a trade-in without even checking to see if the title was clear. She was in county jail for about 6 months waiting for trial. The judge gave her 10 years suspended. Then no sooner than she got out, she started stealing people's credit card numbers and buying all kinds of crap. She worked at the front desk of a hotel and would just write the number and security code off the back when people checked in. Needless to say, she went BACK to jail. She was sent to a Dallas county jail that contracted to house state prisoners. The judge only made her spend 9 months before she got out again. Some people have all the luck. If it was me, I would have gotten 25 to life for jaywalking. The criminal charges don't even scratch the surface. She is sociapathic to say the least.

EDIT - By the way, not only was she stupid enough to write a hotchek for $60K, she got an SUV that was equipped with ON STAR!!!! The second the check bounce, the dealer activated the On Star. If that's not one for the stupid criminal file, I don't know what is.

 

[TigerD]

I'm all for helping out family, but you might want to consider taking measures to protect yourself and your credit.

EDIT - By the way, not only was she stupid enough to write a hotchek for $60K, she got an SUV that was equipped with ON STAR!!!! The second the check bounce, the dealer activated the On Star. If that's not one for the stupid criminal file, I don't know what is.

That's rich.

DC

 

[ceara19]

I'm way past helping her. That stopped years and years ago, after I had a bookie come to MY house in the middle of the night to collect on her gambling debts. The last thing (and pretty much the only thing) I ever really helped her out with was when she filed a false police report, I pulled a couple of strings and called in a few favors to keep her from being charged for it. That was before her mess with the hot checks.

She's family, so I can't cut her completely out, but I try to keep contact limited to family occasions and that's only for the sake of my parents.

When a friend of mine with the police dept. called to tell me she'd been arrested for the SUV, I laughed so hard I thought I was going to pass out when he told me how they tracked her down!