My car was repossessed and the bank is telling me I need to pay off the balance of $12,000. How do I pay that off if no one will give me a loan?
by 
Anonymous
ANSWERS: 9
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W-O-R-K is a surefire money making scheme. Oh yeah and stop buying crap you can't afford. If you can't pay cash for it, you can't afford it.
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I understand your dilemma, you need a car to work, you need to work to pay the bills. Unfortunatley, my only advice is you have to suck it up and learn from this experiance. Or find a generous rich friend or a loan shark...
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Unfortuneately, you are really kind of stuck.
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I'd try to call the lender and try to work out a payment plan. You may be stuck trying to get public transportation or hitching a ride with someone. Try to save whatever you can to get a cheap used car and then work on paying off what you owe. Let this be a very expensive lesson to you about paying SECURED debts.
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Other than working and saving?
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IF YOUR CAR WAS REPOSSESSED, THAN TELL THE BANK TO GO SEE THE ONE WHO TOOK IT. SINCE YOU NO LONGER HAVE POSSESSION. IN OTHERWARDS THEY TOOK IT BACK, SO ITS THEIR PROBLEM. THIS IS MY OPINION.
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my car was repossessed I asked for a loan to help fix the car through the bank I was financed through. They wouldn't even help. I had put in the last year almost $4000 into the car getting fix I was taken off work due to pregnancy complications so got behind on payments. I was not even driving the car I owed a balance of $6500 and they came and got it sold it for $2300 leaving me a balance I just made arrangements to pay them back. People dont know how easy it is to fall behind or not being able to pay their bills at all untill it happens to them.
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The sucky part is when a vehicle gets repoed, they can sell it for nothing and still demand you pay what you owe. First, I would attempt to settle the debt and make a payment plan. Second, get creative. I went back to school one year and used student loans to consolidate all my bills into one payment. It is whacky but it really helped and student loans would give me credit where I probably would not have got it anywhere else!
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try to arrange a new payment plan. tell me kind of vehicle, year and miles. I can give you "blue" and "black" book price (will be low) how much equity do YOU have in car? (Bought for ___, paid ______) knowing those things does help you get an accurate answer.
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