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My mom co-signed for a car we purchased. I defaulted on the payment. I switched jobs and I had to change my bill due date and that’s when it all started. I had to pay late fees, and it just escalated. The bank ended up taking the car. I was reading on a few articles about car repossessions and I learned so much like tow fees, storage fees, and defiency loan I have to pay back. My mom still doesn’t know the car is gone, I am so scared to tell her. I am for sure that I owe money on the car when they sold it to the auction. I would just pay the difference but do you know if they accept payment arrangements? I am thinking of filing for bankruptcy, how will this affect the car loan and what happens to my moms credit? Will the bank put a lien on her properties? Please advise. Thank you.

Car was repossessed on Monday.
We were making partial payments for the last four months since my husband was out of work. But that was not enough to keep us in good standings with the bank.
We bought the car through JDByrider and they use CNAC to finance the car. Called CNAC on Monday after the car was repossessed to speak with our account representative. We have two options.
1. Pay the car note bi-weekly until we get back into the good. Which will take us 6 months.
2. Take the repossession hit, buy a car with cash and pay the repossession off our credit (which is bad anyways).
We both work and both jobs are within walking distance. Our problem is that we are not sure if we can get the car back because they may by accident sell the car off privately and we still stuck with a repossession on our credit. Or we get into good standing and we have no way of going and getting our car.
The car has a lot of miles on it. Several problems. Resale value is maybe 1000.00 to 2000.00 if everything is in working order.
If someone has been through this please tell me what you did. We are very indecisive about what to do.

I was 3 months late on the payments so I called the lender(wfs financial) and told them what was going on that I was between jobs but was starting a manager pos. with a firm very soon. I asked if they would roll a payment off to the end of my scheduled plan they agreed. Since then I have made double payments and brought myself current with my payment plan. I called them(wfs) the other day and they said that they had "charged off" the car and for me to turn it in to them. I asked why? what about the payments I have caught up on? they said …consider it like renting a car. Last night the car was repossessed from our apartment parking lot. Can I fight this? Can I get re-financed? HELP, there has to be a way to beat this……………..

Because of not staying on a job long, and not making enough money on those jobs to pay a 1.64 car note and making 8 or a little under on the job. I know that i will a charge off repossession balance on my credit report, will this affect me getting another car and a home one day?

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