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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.

I havent made a payment since July 2009. The "bank" has gone to court and been issued a Writ of Possession. They havent shown up to my house yet. I hear that they’ll come with the police and repo guy. I plan to hide out in the house and not answer my door. The longer I string them along/stall for time, the longer I go judgement free. I figure if they get the vehicle back sooner, they’ll sue me that much sooner and start garnishing my wages. Seems to be to my advantage to string this out as long as possible. What happens if they never recover the vehicle? (its in Mexico)
Why would I surrender the vehicle? so they can auction it off for pennies on the dollar, then sue me for the balance? ohhhhhh, and garnish my wages. forget that, I’ll part this sucker out and give it back on blocks, lol
"Also, if the creditor doesn’t receive the vehicle back after going through the court ordered Replevin, then the creditor might include the term ‘P&L write off’ or ‘Subscriber cannot find’ in with their regular negative reporting of the account on your credit reports, which is far worse than just having a repo or a repo and a judgment on your reports." I plan to go chapter 7 BK and wipe everything out
Is it possible to beat the repo man? I’d have to say yes. I’ve beat the repo man like a "yard dog" for the last 2 years, lol. Even if they sue me and get a judgment for the full balance of the loan, plus repo charges, they’ll never recover the vehicle and I’ll declare chapter 7 bankruptcy and wipe out their judgment. I think its funny as hell to see "The Bank" continue to switch repo companies. They’ve burned through 3 different companies in the last 2 years. I think its funny to confuse their "skip tracing" software, by registering my credit cards to a relatives house 2,000 miles away. Also, turing on utilities for a buddy who is attending college out of state confuses them as well. The more time they waste with me, is one more day someone else more deserving gets to keep their car, because the repo guy is spinning his wheels with me. I cant wait until he shows up with the cops. I will come out, get really really really mad, tell them the vehicle "ain’t here" so "get lost." I will also trespass the repo guy in the presence of the officer, and is he returns, it will be considered "disturbing the peace" which is a big No No in the repo world. The cops can only arrest me if the vehicle is here
"Louis and Matt?????" are you serious? Those are actors. google them. You think that show is real? wow.

5 years ago I lost my job and got two months behind on my car payment. The creditor told me to just give it back. I asked them to give me more time or to lower the % rate. They continued to haress and kept telling me the best thing to do is to give it back. We did, but now another credit company is saying that we owe ,000,00! Have they lost their mind? How or why should I pay that when they took the car and sold it. I live in the state of Texas and purchased the car in Texas. They keep calling and now they call my place of employment! What should I do?

My car was repossessed. I received a paper saying they were taking me to court. I spoke with an attorney who gave me advice. Long story short they took it to court. I was advised to take the default judgment because it was my fault. I got a letter after the court date saying that unless I respond to the lawyer of the creditor within 10 days they would assume it was a valid debt. I have not received any other information on what is going to happen. Does anyone know what I should do or if I should have received something from them? This all took place in November 2010.

My car was repossessed. I received a paper saying they were taking me to court. I spoke with an attorney who gave me advice. Long story short they took it to court. I was advised to take the default judgment because it was my fault. I got a letter after the court date saying that unless I respond to the lawyer of the creditor within 10 days they would assume it was a valid debt. I have not received any other information on what is going to happen. Does anyone know what I should do or if I should have received something from them? This all took place in November 2010.

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