Car loan defaulted, but they won't repo the car
I got a wierd situation. I had two auto loans from the same creditor, one in my wifes and one in mine. I had a run of bad luck one month and both rigs broke down. Tranny in the suburban and the cv joint/differential in my jeep grand cherokee. I was trying to fix my jeep in my garage, so I pulled my 20's off and stored em at a relatives due to lack of room. The front cv is taken off etc.
I called the creditor to let them know I was going to be late. They said they didn't care. They wanted their money that day or they repo. To make a long story short, they repo'd the suburban a couple weeks ago. However, the repo guy came to take photos of it in my garage. Then he started walking off and I was like, dude, you forgot the car. He replies, he said if its in pieces to let you keep it. They need a photo for the file.
Keep in mind. I've had this loan for three years. 90% of my payments were late, sometimes up to 45 days or so. But I always paid them and they always took it. I still owe $8,000 on the thing and its worth as it sits maybe a couple grand.
I guess my question is this. If they don't repo the car, what do they do with the title. He said their going to sue me for the money but won't give me the title and I'll have a useless car.
One would think that to sue me for $8,000, they would have to release their interest on the title. Also, can I get de-registered from the car then charge them storage fees and sue them?
Any help is appreciated.
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