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  1. #1

    Default Snap on Loan Defaulted, Repossesion

    My question involves collection proceedings in the State of: Missouri
    My boyfriend has defaulted on his loan for his snap on tools, and he believes if he doesn't pay them back, they will try to repossess, and if they can't repossess they will send him to jail. He no longer has the tools as they were stolen from him, thus why he's afraid. His snap on tool loan was apparently a package deal when he left his trade school along with his student loan. Can anyone give me any insight on this?

  2. #2
    Join Date
    Jan 2006
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    38,867

    Default Re: Snap on Loan Defaulted, Repossesion

    does he have a contract with Snap-On for the tools, a school loan or independently secured loan?

    unless he had something to do with them being stolen, you don't go to jail for being in debt.

    Did he file a police report when the tools were stolen?

  3. #3

    Default Re: Snap on Loan Defaulted, Repossesion

    im not really sure, all i know is he keeps getting letters from snap ons financial division. as far as a police report goes, he didn't file one because we had shared a basement in an apartment we once lived in years ago, and they ended up missing when we moved. he didn't think it would hold weight to file a report for something like that.

  4. #4
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Snap on Loan Defaulted, Repossesion

    well, not filing a police report surely won't help support his claim they were stolen.

    If he is getting calls from Snap-on, he most likely financed through their financial services.

    So, the thing is, whether they were stolen or not, he still owes the money. So, what he needs to do talk to them and work out some form of payment deal.

  5. #5

    Default Re: Snap on Loan Defaulted, Repossesion

    i understand that. what he's worried about is being sent to jail if they can't repossess the tools. that's the main question.

  6. #6
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Snap on Loan Defaulted, Repossesion

    unless they have reason to believe he did something illegal, chances are they are just going to hound, and possibly sue for the money. Whether they think something illegal happened or not doesn't mean a lot unless it can be proven.

    If they believe your BF did something illegal, they would contact the police to investigate it.

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