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Hi. I co-signed on a car for my cousin in 2008. The car got repossessed in 2009 and the balance shown as ‘charged off’ on my credit is K. Today they told me if I pay 1/2 the balance they can settle the debt and if not they will send me to judgment. If I don’t pay the ,500 today (don’t have that kind of money) the only option I have to avoid judgment is arrange monthly payment on the entire balance. My question is, will they work with me and lower this at all? Does Wells Fargo typically send people to judgment over this kind of balance (mostly fees) or do they sell it to a collection agency?

My car was repossessed on 1/29, i was 3 months behind. on 1/31 i called my finance company wells fargo and asked how much i needed to pay them to get the car back, they tell me that i need to pay the full balance of 14500. so i bite the bullet and chalk it up as a learning experience. then yesterday 2/7 i get a certified letter in the mail stating their intent to sell my car at auction, their starting price (6500.00) and where it will be auctioned. on the 2nd page it states to receive my property back i must pay the past due amount (1100.00) + 2 months security payments (730.00) and recovery costs in the next 15 days. and my loan will continue as if i never had defaulted. so i get my hopes up because i have the money now to get my car back now that im no longer unemployed and i call wells fargo up again. they tell me that that letter was a mistake and that i need to pay the full amount again. my question is would this be something i should talk to a lawyer about. i would like to not have this repo on my credit and i can afford to make the payments or even sell the car private for more than they would get at auction.
why send me a letter saying i can pay 2000 dollars and get it back then tell me i cant that same day. thats my main question.

My car was repossessed last year after wife lost job and we got behind on payments, and were unsuccessful in attempting to negotiate lower payments/deferments with them to get caught up. Loan was through Wells Fargo, who sold the car at auction and we were on the hook for the difference. This was immediately sent over to a collections agency, which would deal with us, and we’ve been making 0 payments ever since. Apparently, Wells Fargo has taken the loan back and sold it to another company. We only found this out because the collection agency refused payment, and we called them. What is up with this and what should we expect? Is it possible that with the sale we may be able to negotiate a smaller payoff to be rid of this loan for good?

I purchased a used (40,000 miles) Toyota Camry 07 from carmax about 2 years ago. I took out a loan from wells fargo, and I am currently still making payments. What I want to know is what if I want to get a different car? Can i trade it in? Sell it back? Taking in consideration that I am still majing payments to wells fargo. The car is now at about 70,000 miles .What are some options.

In late May, early June, Wells Fargo in Canada repossessed my car. I have tried to contact them since then and no one returns my call. I know for a fact that the car hasnt been auctioned off yet. What do I do? I dont want to be paying storage every month plus interest. HELP!

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