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  1. #1
    Join Date
    Jul 2006
    Location
    Northern California
    Posts
    1

    Default Auto Repossesion

    We own a 2005 Ford focus. We haven't made a payment since december of last year. The finance company is threatening repossesion, they are also threatening with jail time if we do not surrender their car.. Can they do this or is this just their way of getting their auto back. This car is the only transportation we have, we're both unemployed, no money and are staying with a friend. What can they really do. not only are they saying jail time but legal action as well. PLease advise asap.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Auto Repossesion

    If you intentionally hide your car from repossession, it is possible to be charged with a crime. It's not the lender's concern, but if you have no jobs, you don't really need a car (and you probably aren't insuring it - are you?)

  3. #3
    Join Date
    Jul 2006
    Posts
    2,652

    Default Re: Auto Repossesion

    In addition, you don't OWN a 2005 Ford Focus.

    They will repossess and sell it (most likely at auction) and you will be on the hook for the difference of what they receive and what you owe.

  4. #4
    Join Date
    Oct 2007
    Posts
    2

    Default Re: Auto Repossesion

    Well, it has happened. The repo guys came at 12:30 a.m. We were 60 days late on our car. We have had issues over the last year but we always have made up the payments. The credit rep said today that she made a decision and we would have to come up with the full $13k still owed. Do we have any recourse; we have been trying and talking to them regularly. And making payments. We had talked to them just 3 days before this with a payment schedule/promise.

  5. #5
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Auto Repossesion

    In California, you generally have the right to reinstate the loan after repossession, but one of the exceptions to that general rule is where you hid the car from lawful repossession. See if the lender will allow you to reinstate.

  6. #6
    Join Date
    Oct 2007
    Posts
    2

    Default Re: Auto Repossesion

    Thanks for reply. We didn't hide the car; as a matter of fact, far from it.
    Very discouraged since we had arranged to make payments this week.

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