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I didn’t keep my payment arrangement. This is the third time that I wasn’t able to keep it. I’m behind 3 months. I didn’t call the company, AmeriCredit, to let them know that I would be sending my payment on Tuesday instead of Friday.

I’m also sending more than my arrangement was for. Unfortunately me car was taken last night. What are the chances of me getting it back?

7 Comments »

1. 

   Unless you can come up with enough money to put your account current, plus any towing and storage fees they may charge, it doesn’t look good. And even then, since you have defaulted several times before, they may not give it back.

   Comment by RetroGirl — February 19, 2011 @ 9:02 am

2. 

   Your will probably have to catch it up and maybe pay a month ahead before you can get it back, they want their money back more than the car so they will probably work with you.

   Comment by shortmama7j — February 19, 2011 @ 9:02 am

3. 

   they only thing you can do now is pay off the remaining balence, call americredit and they will tell you who has the car and where. Then you just have to make arrangements to go and pick it up. That is about all you can do now that they have picked up the car. Also, make sure you find out where they put any belongings you had left in the vehicle, they may not be with the car any more…good luck

   Comment by koma — February 19, 2011 @ 9:02 am

4. 

   im sorry your going through this. Perhaps this is a car you just couldnt afford. Focus on how this hurts your credit and do whatever it takes to fix it. Pay off what you owe and start saving for a cheap used car to get by for now. Save money for the life of your new used car to buy a better one down the road.

   Comment by Adriano — February 19, 2011 @ 9:02 am

5. 

   I didn’t keep my payment arrangement. This is the third time that I wasn’t able to keep it. I’m behind 3 months. I didn’t call the company, AmeriCredit, to let them know that I would be sending my payment on Tuesday instead of Friday.

   Based on that, yes you can. Call the bank, find out what the full payoff is and the costs of the repossession. Then go to the bank with that amount in cash, or a certified check. They will give you a lien release and have no further interest in the car, and will tell you where it is being kept. Take that paper work to where ever the car is, and drive it home.

   Otherwise, it is doubtful that will mess with you a 4th time.

   Comment by oklatom — February 19, 2011 @ 9:02 am

6. 

   Slim to none, unless you can fully catch up (not by arrangement, but by lump sum payment) within the next 48 hours.

   Comment by mbrcatz17 — February 19, 2011 @ 9:02 am

7. 

   You will need to contact the lender. Likely you will need to:

   a) Make all of the outstanding payments
   b) Pay for the cost of the repo
   c) Pay for the cost of the vehicle storage (which increases daily so don’t scr* w around on this)

   in addition they may choose to:

   d) Require you to make a payment in advance so you are always ahead
   e) Accelerate the loan and demand payment in full since they will consider you a bad risk and want to collect their money while they still hold the car.

   Options D and E will be subject to your loan documents but are not uncommon.

   Bottom line.. if you want your car, you are going to have to dig up some serious cash.

   Even more bottom line: If you do NOT reclaim your car, they will sell it.. odds are that the sale price will be less then you owe so you will STILL have to make payments.

   (see the part about acting on this NOW !)

   .

   Comment by ca_surveyor — February 19, 2011 @ 9:02 am

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