Posted on March 5, 2010 at 7:29 pm I can really use some guidance right away!! Here's my situation.Approx. four days ago, my vehicle was reposed. I was told by the people who took it that I had 15 days to work out an arraignment. If this is true, I am trying to do the right thing for myself, now and for my future.I was approx. three months behind on my car payments due to severe health problems of depression which I am still experiencing. I am concerned that if I am able to come up with the money that potentially I will fall behind again. It is possible that within a month or two I can also be well and begin to work and get back on my feet financially.There are still about three and a half years on the loan at a huge payment (at least huge for me) of 450. dollars a month so it appears I would be stuck with this loan for a long time to come.The loan is upside down in that the loan is for 16,000 dollars but the car is only worth 8,000 tops.I had filed bankruptcy four years ago and have had a repossessed vehicle in my debt history.I am concerned that I am demolishing my future by allowing this repossession to occur.Can you please help and tell me what are realistic options to handle this as successfully as possible. I want to roll up my sleeves and tackle this problem. However, I need the wisdom form experienced people to guide me. Please tell me what to do!!??   Thank you!!!

Posted on March 9, 2010 at 5:21 am I am concerned that if I am able to come up with the money that potentially I will fall behind again. It is possible that within a month or two I can also be well and begin to work and get back on my feet financiallyHi there, sorry to hear about that - and have you tried telling this to your lender?

Posted on March 9, 2010 at 5:39 am Maybe you should review the terms of your contract and do speak with your lendersperhaps they'd hear you out and modify your payment terms. I read that the only way to recover your car is to 'pay off  your loan balance – no more monthly payments – and pay the fees and charges associated with picking up and storing your car.'

Posted on March 9, 2010 at 5:40 am Is this a case of the loan outliving the car?

Posted on March 9, 2010 at 5:48 am Hey I wonder how your car was taken..there's such a thing as "breach of the peace"depending on the law in your state -- yes your lender has the right to take backtheir property but depending on your agreement with them verbally or written - I read that it's still subject to some limitations. I wish I know more about this - butif ever you feel like they've been unfair or what, consult with an attorney, and ask about what they call a deficiency judgment (the difference between what you owe on your loan and what your lender will get in reselling your vehicle) ...if it's proven that they violated this "breach of the peace" they might even have to pay you penalties for it.

Posted on March 14, 2010 at 7:23 pm Thank you for the ideas and I will look into them! I am unsure who to call about a preech of peace idea?

Posted on March 25, 2010 at 11:05 am i think there is a need for you to review your terms of contract..