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Am I out of luck? So this is the story– My car was under mine and my ex husbands name. I fell behind on my payments because of a lay off. Once my car was repossessed I thought I’d just be able to call in and catch up on my payments and get my car back. I was very wrong. They want me to pay it off with them because my ex husband filed for bankruptcy. So I tried to refinance but didn’t qualify with my credit history. I tried to have a co-signer but the financial institutions said I couldn’t have a co-signer for a refinance unless I had no credit. Ok so went to Plan B. My cousin tried to get the loan for me. Now that’s not working because number one they said his name is not on the vehicle and number two they don’t refinance repossessed vehicles. I feel as if I’ve exhausted every option. Am I out of luck? Should I just give up now? It’s very hard for me because this car was my baby. I put a lot of work into it. Lots of aftermarket parts. I put a lot of money into this car and I feel helpless as far as getting it back.

I’d be the only signer. I’m 21 and have poor credit score b/c no credit history. I want to get a car to build my credit and b/c I need one. Does it matter if I get a used or new car? Will my credit score rise either way?

I was young, (22yrs old) had 2 jobs and made good money. I decided to trade in my old junk of a car and buy a brand new car. I had no credit history so my then bf helped co-sign for my new car. My interest was sky high but I didn’t care at the beginning because I had no idea what I was doing. I paid a very large amount per month and then after about a year, I lost my main job. A few months after that, I lost my other job. I now was collecting unemployment and went through HELL to make sure that car was paid off every month. I started making late payments and my life was just a mess because not only did I have to pay for that car, I had the insurance, rent, etc. I was no longer able to pay my car and that day came when Mr. repo came knocking on the door. They took my car after 2 years of me working my butt off and they auctioned it off for SO cheap (almost had a heart attack at how much they sold it for!)

This was in 2008 and 2 years later, I’m still struggling financially in more ways than a hundred lol…I have really bad credit, I can’t even open a bank account and I feel like my once so organized and amazing life is now totally off track. I don’t know what to do. These are my questions:

1. If I open a bank account, can my lender seize all my money? Not a savings, a checking account.

2. Being that I did not pay the upside down on the car (,000) should I file for bankruptcy and is it too late to do that after 2 years? And for those who want to suggest that I pay off the 16 grand, I’m not because I’m not going to pay for a car I don’t have anymore and you might say well you’re stuck with it you should have never bought a car you can’t afford I don’t want to hear it because you don’t know my story. I want serious answers, not answers that are going to sound mean and not help.

If there is anything that I’m missing? Please, any advise would be GREATLY appreciated. Thanks in advance

The bank has said we can get our car back if we can scrape together two months of payments due. But, since the car was repo’d a few nights ago, is it to late to save a repo report going on our credit history? Is it reported only if the car is, in fact, sold at auction or otherwise disposed of?

I know that my credit score will have an effect on this issue. The vehicle got repossesed in january and it seems that there is still a balance of 27. What happens if I start paying the balance, will my credit score go up again, will the negative of the repossession be erased from my credit history? Any help would be appreciated.

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