[ataloss224]

My question involves an auto loan or repossession in the State of: Maryland. My car was repossessed two days ago and to get it back I need to pay a little over $2100 that I do not have. I had exchanged phone messages with the lendor the day before they took my car and had been left a message offing a payment option (which I could of afforded and was planning to do) to bring my account current. They were closed when I called back and by the time I woke up my car was gone. My question is was this verbal message left on my machine considered a credit contract change and can they proceed that quickly with repossession without giving me a chance to accept the offer? If not, is there a quick way I can use my house as collateral to get my car back since I do not have the cash?

[seniorjudge]

Q: My question is was this verbal message left on my machine considered a credit contract change and can they proceed that quickly with repossession without giving me a chance to accept the offer?

A: You already violated your promise to them on payment options; so they just gave you one more chance and you didn't take it.



Q: If not, is there a quick way I can use my house as collateral to get my car back since I do not have the cash?

A: Who owns your house? Do you have a mortgage on it? Talk to a mortgage lender; a mortgage shouldn't take more than 30 or 45 days.

[cyjeff]

A lender does not have to accept the changed payment terms that work for you.

You had the opportunity to review the payment terms at lease/loan inception.