I don't know what would happen if you drove it onto their lot and left it there. Perhaps you should to speak with a lawyer see. The other two issues on your plate are the credit report issue you raised and the debt that you owe.
Regarding the credit report, the history of your missed payments on the debt will remain on your credit report for 7 years. The creditor can pursue collections against you for the debt.
They may send letters, call, or go to court and sue you. You should try and set money aside so you can negotiate a settlement with them when they contact you. Dealership manager took advantage of me an my situation an he made me false promises to me an left me with a higher car note and more debt. I can't afford my upside down vehicle and I'm thinking of going the voluntary repo route an not paying anything at all anymore bc I just cant.
Who has been down this rode already or can give suggestions an advice btw my car is worth 18k an I'm suppose to pay 40k over time for it. Which is not happening. Tony, I am sorry to read that you were taken advantage of.
Unfortunately, that is unlikely to affect the situation. The car willl be auctioned, the auction balance less some costs associated with the auction applied to your debt and the remaining balance your responsibility.
Given the size of the debt that will still be your responsibility, I would first speak with a bankruptcy attorney, before you go the repo route. Secondarily, try to get something positive out of what, overall, is a lousy experience. I imagine you learned something about car salespeople and won't get taken advantage of again. I suggest you look at what caused you to buy such an expensive car.
I am not judging you. I do believe you could have had reliable, pleasing transportation without a car that cost so much. All About Voluntary Repossession. What is the difference between a voluntary repossession and one where the vehicle is snatched by a repossession person from the auto or home lender?
By Bills. Understand your responsibilities regarding a deficiency balance you will owe. Get help with your debt if you cannot manage the debt payoff on your own. What is Voluntary Repossession? J Joshua Abreu-Rosa, Aug, T Terri, Mar, Hello Terri, Thank you for reaching out to us. Maybe you can still own your car, maintain payments, and address your other expenses. Please let us know so we can find options that can help you. Hello Sam. If you need anything else please let us know.
J James, Aug, Ontario — Ontario Exec. Palmdale E. Voluntary vs. Erik Clark. Imperial Highway Suite A Ontario - Ontario Exec. Center Ontario — Ontario Exec. Center Inland Empire Blvd Suite Torrance W Carson Street, Suite Palmdale Palmdale E. Palmdale Blvd Suite B. Glendale North Brand Boulevard Suite Follow Us:. Federal Trade Commission.
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