I did something really stupid....

[calys]

What is the name of your state? California but I bought my car in Arizona

I bought a car in 2005 with a loan from a credit union. I got into a very bad situation at the beginning of this year and I got behind on my payments. Instead of doing the smart thing and letting the car be repoed, I parted it out.

I still owed about $10,000 on it. A few weeks ago my ex told me that some men came to his house looking for my car and they said they were going to the authorities. But I'm not sure if that actually happened or if he was just trying to scare me.

I am planning on filing for bankrutpcy this year. But what is going to happen with my credit union? Is it likely that they will file criminal charges against me?

 

[TigerD]

I agree you did something exceedingly stupid. As for criminal charges -- I don't know. Maybe. They had a security interest in the car and you stole that from them by parting the car out.

As for the credit side -- that may have destroyed your ability to file bankruptcy. By parting the car out, you engaged in a deliberate attempt to defraud the lien holder. Fraud is one of those nasty little things that is non-dischargable. In fact you could have your entire bankruptcy thrown out.

You need a lawyer. Fast.

DC