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In April, I moved across state lines to move back in with my parents due to financial difficulties, and have since been unable to find another job. Louisiana, the new state I live in now, won’t even let me have unemployment due to some "error code" that’s way over my head.

Anyway, this morning my car was repossessed. It is in a seriously upside-down loan: the value of it is probably no more than 2000 dollars, while I owe something like 9,000-11,000 on it. I do not understand repossession laws or bankruptcy, or whether bankruptcy should even be an option.

I owe approximately 3,900 dollars in other unsecured debts (fees, credit cards, deficits owed to schools, etc), plus whatever mystery debts I might have that I’ve completely forgotten about. I owe around 15k in student loans, which from my understanding can’t be effected by bankruptcy and are the main source of my problems. I don’t think this is a reasonable amount of money to file for a bankruptcy, but I’m not sure of what other options I might have.

Should I attempt to negotiate with the creditor of the car to maybe have it returned? (I don’t have work — but being that I’m 40 miles out of civilization, without a car, I will never be able to GET work.)

Should I surrender the car completely and let the bank resell it? Would I still owe the money left on the balance of the loan?

My long-term goals are to try and get back into school to get a degree after getting a secured job, but with my credit destroyed, I’m not sure how best to repair it from this point forward. Any advice would be appreciated. (( And while I know someone’s going to come on here and say I’m a deadbeat, bla bla bla, I’ve applied to over 400 jobs since I’ve been here and have only had failed, expensive interviews — you try doing that with only 8 dollars to your name. I know I work hard, so don’t waste your time or mine. ))
As usual, people post the "it’s your fault!" responses with no useful information — I’m looking for advice. You are not aware of anything that is or is not my "fault", for all you know a contributing factor to my move may have been that I need to take care of my elderly parents. I know what I owe and what I am responsible for — I am just looking to move forward without getting taken advantage of.

So today my car was repossessed from Toyota, I was back about two months and they had been calling me non stop, I finally answered to tell them I need another month before I could pay them and what my options are but they just told me they can just take the car so I just hung up on them. Now that was a few weeks back and now they found the car and towed it today but I just want to know what to do in the event of this happening, I financed this car and this is my first car so I’m a little bit inexperienced. What is the best possible option for me? Someone has told me about bankruptcy and my mom says let them keep it, I dont know what to do. Please help.

I have car loan with UAC/Car Hop (worst decision ever)! I am having trouble making the payments and it is becoming clear that I need to let this car go back. My credit isn’t great to begin with (hence the need to go to car hop/uac).
I have tried working with the bank and they aren’t willing to do anything.
I just need advice.
I am thinking about bankruptcy after this to clear it all out and start over. I know my credit is screwed for 7 years but it will be with a repo anyway.

Hey everyone, Because of some issues and fights with my bank, my 2005 altima is being taken back by the bank. But the thing is I messed it up. The engine or transmission, is about to blow. It has severe issues with the engine really bad it might need a new engine. Either way what will and or can the bank do to me? I dont have the money to get a new engine or anything so what could happen? And what if I just declare bankruptcy then could they do something? Im pretty worried seeing its gone happen sometime this week? Anyone know? or know somebody that would know about this?
Was told 90% it needs a engine, the pistones are misfiring
ps: i live in canada

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