Posted by BillinCentralMo on September 14, 2010 at 19:13:08 from (173.158.165.83):
In Reply to: OT Car Repo posted by barn E on September 14, 2010 at 18:16:08:
The car is worth less than the balance or she would sell it and pay it off or refinance. Some lenders are loaning 100% of the value on newer vehicles with a good credit check. It is not going to sell for what is owed on it after the repo. Never happened before and it ain't happening now.She is in over her head and can't pay the payments. Betcha a beer.So it's come up with some money somehow or get a bus schedule. Them's the facts of life. Or you can hide the car and wait on that "change" thing the president promised us. Strikes me a car hidden in the garage is not a lot of use to you. May not be good to hide Sis's car at your house if you are averse to rough ex motorcycle gang members with towtrucks and weapons staking out your place. It won't be the Banker who made the loan that comes to repo it.Suggest you consult a different lawyer about that bankruptcy filing.
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