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Ok I admit i’ve been behind on my payments for like 2 months only because I wasn’t working & some dude knocked on my door @ 6:00am tellin me my car is being repossessed what do I do now it’s sunday & I can’t call the bank to make arrangements. I am so afraid it’s gonna show up on my credit report! I am planning on paying the amt I owe will it still show up on my report? do I have any fees im gonna be responsible for paying other than the amt I owe? I live in Massachusetts.

8 Comments »

1. 

   Everyone on here who says that your car cannot be repossessed after only being behind 2 months is completely wrong. I was 1 1/2 months behind and they took my car on 11/15/09. Granted, my bank did work with me and I just got my car back, but I had to drive 2 1/2 hours to get my car from the auction yard. I had until 12/02/09 to make the payment or my car was going to be auctioned off. I paid what I owed on 11/22/09 and my car was already cleaned out and shipped off for sale before 12/02/09.

   My bank told me that the repossession will still show up on my credit even though I paid what was due and have my car back, so this will show up on your credit.

   My other advice is to make sure that you contact the recovery company that took you car right away if you had anything in the car. I was only able to get a few things out before they hauled my car away and there was still a lot of personal items in the car and NOBODY knows what happened to my stuff. The recovery company says it was empty when they got it and the auction place says it was empty. I have been getting the runaround for the last two weeks.

   So good luck….

   Comment by Melissa — January 4, 2011 @ 6:38 pm

2. 

   u shud TruTv on cable. i think ppl would B calmer about this if the bank gave back when repoing. ppl do fall on hard times & there r those who really do deserve 2 have their $$$ returned or @ least a portion of it. i c way 2 many ppl fighting the repo man b/c they really don’t want 2 lose all the $$$ they pd. i think there should B stern laws that require banks 2 give back 2 struggling customers when they repo stuff. when ppl fight its usually over $$$

   Comment by saved_astronaut — January 4, 2011 @ 6:38 pm

3. 

   you had to be at least 3 months behind for a repo..and they would of sent you a letter prior to the actual repossession…what did you think, they were kidding. they came so early cause a lot of people really stash their car at someone Else’s home to avoid getting it taken.

   the bank will take nothing less than the amount that is in the rears. there are no deals to be made now, so if you are behind say $300 a month and 3 months. they will want at least $900.
   some places even charge you for the repo service as well.

   now another bit of bad news. if you choose to just let them have it cause you don’t have the money. they will take that car of yours and sell it at auction. they won’t be particular as to what they make on the deal either. if you were to owe say 8 grand on the car, they could sell it for 4 grand at the auction and guess who gets a monthly bill for the difference…yeah YOU….
   don’t pay that, and they will slap a lien on you and go for any assets or if you do get a job, they will try to garnish your pay. if you have a bank account, watch for that as well, cause if they do get a judgment they will freeze your accounts. they can’t take the money in the bank, but neither can you.
   as you can see, you are between a rock and a hard spot. if you have parents now is the time
   to ask for help and get the car back before it’s too late.
   your credit report right now, is the least of your problems.

   good luck

   Comment by fitz 1969 — January 4, 2011 @ 6:38 pm

4. 

   I hate to tell you, but it was on your credit report when you started running late. And a car isn’t usually repo’d for only 2 months back payments.

   Call the bank in the am & ask.

   Comment by ckm1956 — January 4, 2011 @ 6:38 pm

5. 

   did u ever call them up and explain your situation first,they might have helped u with it..but since u ignored them that is not good…it will show up on your credit..have u ever seen your credit reports..u can get them free once a year…when u bought this car ,they know when u pay and when u dont …please look at your credit reports..
   you will have to pay other fees and you r responsible for all of it..
   also u may have a different allowances since u live in mass. i wish you well..

   Comment by littlerose — January 4, 2011 @ 6:38 pm

6. 

   It’s most likely been reported to the credit bureaus already, might want to check http://www.annualcreditreport.com and see what’s going on. Otherwise there is nothing you can do today. If you can pay your note tomorrow you’ll get it back (plus whatever fees are involved for the repo). You should also look at the MA attorney General’s website to find info about what fees they can charge you in a repossession but I do not think you’ll get away with no fees. Good luck.

   Comment by douglas l — January 4, 2011 @ 6:38 pm

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   Comment by Mrs Alima — January 4, 2011 @ 6:38 pm

8. 

   The people who answered you to say that they would not repo after 2 months behind are totally mistaken. Because of the bad economy and everything that comes along with it, we had our vehicles repoed. One we were only 2 months behind, had an agreement with the bank that we would pay by Friday noon the unpaid payments with our Income tax refund and if we did not get it we would voluntarily turn it in. They came to get the vehicle Thursday night. We called the person the next day what happened with our agreement and that we had our tax return. She said too bad. So all the time they were planning on taking the vehicle with only 2 payments missed.
   We also had our work vehicle repoed with only 1 month behind–yes 1 month. We had told them we were filing BK and that is probably why they came to get it. The only thing is they came to repo after we filed BK and they had notice.
   Yes, it will show on your report as a repo. Your only way out of this is to pay the balance of the vehicle. They will sell the vehicle for less and charge you for the deficiency, repo fees, storage, cleaning fee, attorney fees and whatever they can add on to it. Sorry to say you are screwed.
   I dont know if you were in communication with the bank as to your situation before they repoed but I can say by experience that talking to the bank before they repoed may not have made any difference. It did not help us in any way.

   Comment by MKD — January 4, 2011 @ 6:38 pm

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