My daughter was 4 days late on her car payment

[Horse with no Name]

She called the bank to get an extension for 6 days.

They were rude and condescending.

Told her that her car was scheduled to be repoed. :wtf:

The lady told her that the bank was tired of all of the late payments by everyone and was going to start cracking down on everyone and start picking up cars and stop extending payments.

Personally? I think they are bullying her because she owes about $2k on a car that books out at $16k and they want to find a way to take it.

I told her this bank wasn't anything but a tote-the-note lot.

Ultimately, they did give her the extension...but they did it after demeaning her and worrying her.
I am so sick of these parasitic fuckers.

[Manifestor_of_Light]

1. Sometimes, repo men wake up dead.

It's happened before. People get upset when you take their wheels away.

[CBGLuthier]

14. So they wait until the repo man goes to sleep? Then Kill Them?

Perhaps a better cliche would have been in order?

[Fla_Democrat]

17. Scary Movie 3

http://www.youtube.com/watch?v=qNuFl-Uu1go

Mahalik: This morning, he woke up dead!
CJ: How in the hell do you wake up dead?
Mahalik: 'Cause you're alive when you go to sleep.
CJ: You're telling me you can go to bed dead and wake up alive?
Mahalik: You can't go to bed dead! That shit would be redundant.
CJ: No, it wouldn't. 'Cause you can go to bed and not be dead, and you can die but not be in a bed.
Mahalik: But you are in a bed, man. That's how you wake up dead in the first place foo'!
CJ: Damn! That's some quantum shit right there, man!








:smoke:

[adamuu]

18. playing online chess

means you are playing against another human or a remote server.

[Iggo]

40. I had to go back and read the OP after that response and the one above it.

ComPLETEly untracked me!

[freshwest]

25. ROTFLMAO!

[999998th word]

2. Sounds about right

Notice the repo shows on TV ? That shit is on for a reason.Put some fear in people

intimidate and demean them @ the same time.They're assholes.

I hope it works out OK for her.

[nosmokes]

3. Does she belong to a Credit union?

If so maybe she can take out a car loan through the CU and pay off the bank note. Likely to get a better rate, for sure to get a better attitude.

[Horse with no Name]

9. I was actually thinking of getting her to switch and go through

our local bank. She doesn't belong to a CU.

She doesn't owe much on it so it is definitely an equity buy for them.

[bluestate10]

28. She is better off in a credit union.

She can have her paychecks auto deposited and have the Credit Union take a fixed amount for the car payment from her checking or savings account. I have no idea of why every day people use banks any more.

[Schema Thing]

46. you should

The Credit Union will probably refinanced the remaining amount at a much better rate.


I'm late fairly often (just absent minded mostly) and the Credit Union is always gracious. They even have a 10 day grace period from my due date w/o any late fees.


Plus, they are... well, you know, NOT the big banks.

[MadMaddie]

4. Do you have a Credit Union in your area? See if the car can

be refinanced at another bank or Credit Union.

[Obamanaut]

5. Was it her first extension and/or late payment on that loan? nt

[Horse with no Name]

11. Yes.

She said she got the distinct impression that she was being punished for other people being late.

That's why I thought that they were trying to get the car back. It seems so unreasonable.

[The Doctor.]

6. Ummm... ok.... can I help?

That's their job.

To be full of shit.

They have very little power. Your daughter has the power. Not them. I know this might not seem accurate given the intimidating stature of the lender, but that stature is an illusion.

Yes, they can repossess the car. They lose money by doing so, however. If they are the primary lender, they really don't want to repossess. Their collections department will insinuate anything they can get away with to get the money. So long as she is not more than 90 days behind, repo is unlikely.

Wanna hear the fun part?

If she doesn't care about a hit to her credit, and she has a friend nearby who is willing to 'garage' the vehicle, she can go months or years without paying and then eventually settle with the tertiary agency for less than 50% of the remaining balance and wind up owning the vehicle outright.

I'm not suggesting she do this (and don't ever act on advice from anonymous online posters), but it wouldn't hurt to talk to a debt attorney.

I can tell you that it's worth looking up the FDCPA for starters. After that, there are many online resources that can help her realize that she's the one with the leverage.

[saras]

7. You may not ever have any idea how many other people you helped today.

[Horse with no Name]

10. Part of the condition of getting the credit

They installed a GPS on it.

My thoughts were that they just want the vehicle because she has so much equity in it. She put nearly $10k down on it.

We talked about several options--one being making a payment every payday. Another is refi at a local bank.

We aren't sure what are her best options at this point.

But-you gave very good advice.;)

Thank you.

[MindPilot]

13. The first thing I would do is disable that GPS n/t

[Hassin Bin Sober]

16. Did she have rough credit going in to the original transaction?

Why the GPS unit?

I'm a little rusty as I've been out of the auto finance business a few years. Some of this new technology like GPS and ignition kill switches came after my time. I spent 11 years as a finance manager in a dealership.

If it was a rough credit loan then she was right to contact the lender and ask for an extension because they would have been bugging HER after a few days past due. That's what the rough credit loan people do - they COLLECT.

If it was a regular bank I wouldn't even advise her to call for only a few days. She will only bring grief on herself by reaching out to some collection clerk who only knows one thing - COLLECTING. Other wise they probably wouldn't call her before thirty days or close to it.

[sammytko]

21. sounds like it was a high risk loan

I've purchased 5 vehicles in the last 10 years and I've never had that happen to me. And only 6 days late? Really what is the issue?

[bluestate10]

29. Or she purchased a luxury car. Based upon the book value stated for

the car, sounds like she purchased a luxury car.

[Horse with no Name]

32. We weren't told that it was

But she didn't have any credit and was a graduating college student.

It sounds like a high risk thing to me, too.

[WolverineDG]

20. why would they want a vehicle they have very little interest in?

if she only owes $2K on a car worth $16K, it's not worth their while to repo. (her equity is $14K, theirs is only the amount still owing) If the situation were reversed, hell yeah, they'd come for it.

dg

[bluestate10]

30. The car is worth $16K. The bank can repo is, walk away from the $2k

and still make thousands selling the car to a used car lot.

[MedicalAdmin]

22. Unbolt the gps. Hook it up to a spare battery and drag it into the woods.

Shimmy up a tree and strap it on where it can't be seen from the ground. The battery pack will trip and send out a position.

For extra fun put a stop motion camera in place to watch the repo guys looking around and scratching their heads...If the bank mentions anything, just mention the recent car robberies in the area and shrug. It ain't your job to keep track of their property.

[femrap]

26. Maybe next time, try not to

take on any debt at all. Buy a used one for $10K. Having debt can cause lots of headaches....one being you end up paying more than the car is worth and second, giving up things you enjoy.

Cars lose so much value when they are driven off the lot....unless it's a hybrid in days of $5/gal. gas.

[The Doctor.]

38. Ok, that DOES make a difference.

If there is not that much left on the loan (not a lease, right?), then her best option might be to sell it and simultaneously pay off the balance. Many people do that. She may have enough left over to put down on another or just outright buy a used car.

That's something I'd definitely look into.

Good luck!

[BanzaiBonnie]

8. At some point, the bullies won't end up well.

[OffWithTheirHeads]

12. Get her to join a credit union RIGHT NOW and get them to re-fi the loan

A few years ago I was having serious financial difficulties and simply had pulled every rabbit out of every hat I could find. I reached a point where I simply could not make my car payment. I called my credit union and told them that I couldn't make the payment and did not know what to do. You know what they told me? "Why don't you skip the payment for the next two months and then call us". Fortunatly, I got a job that month and was able to start paying but try that at Bank of Fuck America and see where it gets you.

I love my credit union.

[lonestarnot]

15. credit unions of the old fashion are fantastic, some are of the new ideology, not so much.

[GoCubsGo]

19. Any chance you can loan her that last 2K?

She can pay the damn thing off immediately, and you could charge her a bit of interest for your troubles. It would probably help her out on her credit rating just a tad, too. If not, I concur with the others regarding her joining a credit union and getting a loan there. She should join anyway, regardless of what becomes of this loan.

[Broderick]

23. Maybe paying bills

on time if possible would help alleviate the issue. Sounds like she signed an agreement to make payments in timely fashion, and that end of the bargain is not being upheld.

[Donnachaidh]

41. this was her FIRST time asking for an extension

Did you -read- the postings and responses?

Inferring that someone isn't paying bills in a timely manner from a one time problem sounds like something we'd see on a RW board. Jump to conclusions much?

[Broderick]

81. I don't know.

I pay my bills on time - never have a problem, and it seems people that have GPS tracking devices on low value car loans @ 2000.00 getting harassed seem to probably have a history of slow bill pay. Maybe I jumped to a conclusions, but I think I can guess in this case. I feel for the OP and his daughter and I only offered a viable piece of advice. Pay the bills in a timely fashion as agreed upon. If you can't pay the bills, don't get the loan. I get on local charge accounts of mine quickly when payment isn't made because it is my money I have "loaned" out. I am not a bank, but even I don't harass or crap on a customer a few mere days late. I am graceful and understanding if someone calls me to tell me they might be a bit late and I work with them and appreciate the heads up. I have seen cars come into the shop where they won't start. I track it down to an installed GPS security unit that will disable the car for non-payment. I have to tell them the creditor shut down their car and they get pissed when I won't remove the security system. Pay the creditor I tell them. How could her car be scheduled for repossession if it wasn't even disabled yet? Shrug. Seems she just got a bit a grief for being late in my opinion. Bottom line - make an agreement, pay the bill.

[tammywammy]

24. What kind of place did she get a loan through? A tote-the-note lot?

Because the pay weekly places are the only ones I've heard of that would go after someone a few days late.

[Horse with no Name]

33. I thought it was a pretty big lending place out of Dallas

She bought the car off of a big dealership lot.
It's not a tote the note--but they sure act like it.

[sammytko]

37. Even big dealerships have all kinds of financing....nt

[Donnachaidh]

42. I've never heard of a place asking for a gps unit -- did they ever give a reason why?

We've only just finished off our car loan, and are thinking of buying a small knock around car for our son. But I don't think I'd buy from any place that required that sort of nonsense.

It's almost as if they -expect- to have to come after you. That's pretty rude actions towards customers.

[tammywammy]

50. The only places I ever heard of doing it, are the ones where you pay weekly

Through the dealership, not a bank. And those types of loans are "high risk."

[Horse with no Name]

80. For about the 20th time--she pays monthly payments to a bank

not the dealership. Sheesh.

[Taitertots]

27. Why does your daughter think she doesn't have to abide by the terms of the contract she signed?

How do you think they should treat people who are taking their money and refusing to pay when they are supposed to? Your daughter should have just bought a car that she could afford.

But they are parasites for giving her thousands of dollars and years to repay it.

[Name removed]

34. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Name removed]

35. Deleted message

Message removed by moderator. Click here to review the message board rules.

[The Doctor.]

39. Lol! You're a collector.

Believe me, I know the language when I see it.

People lose income all the time, and they rarely ever expected to. Many agencies are starting to drift away from the attitude you just demonstrated here (but most still use that exact language), not that there's necessarily anything wrong with it. Agencies are starting to recognize that debtors are not necessarily deadbeats, but people who wound up in situations they never foresaw. A top agency, ACI, actively trains their people to be very respectful and polite (I have friends in the industry). The employees who use bullying tactics, or even 'guilting' don't last.

As for the OP, it is apparently an example of someone who certainly intended to pay. Otherwise I doubt she would have posted about her daughter.

Hope you had a good close-out. :hi:

[Name removed]

48. Deleted sub-thread

Sub-thread removed by moderator. Click here to review the message board rules.

[Curmudgeoness]

44. Your lack of empathy is noted.

Since this is the first time she had a problem making the payment, it is apparent that at the time she got this loan, there was no problem affording it. And since there is only $2,000 balance on the loan, she is at the very end of those "years to repay", so she could afford those payments. And this woman had the decency to call the bank immediately to work with them instead of hiding out or ignoring the responsibility. Some times, life gets in the way for every one of us and we are set back for a short period of time.

We should not be crucified for this. When I think of the number of people who pay late every month, or file bankruptcy to get out of paying debts for things that they did buy, or the ones who will take credit to the max and then negotiate 50 cents on the dollar to pay it back, I cannot imagine anyone getting their panties in a wad over a one-time request for an extension of time.

[Taitertots]

49. I reserve my empathy for people whose problems are not entirely of their own creation

She knowingly agreed to the contract terms and should have known she was violating them.

[Curmudgeoness]

51. Off with her head!!!

I feel sorry for you for being such an ass. She did know the terms, and that she was not making them, and she called to deal with that. This is not a bad person.

[Carni]

52. It is an insult to asses...

And a really piss poor instigator to boot lol

[Curmudgeoness]

55. My apologies to all the asses everywhere.

And as to instigating, I am making every attempt not to do that. I am really really really trying to be rational when my mind is screaming irrational.

[Carni]

57. Oh YOU are not the instigator

The tater tot--or other fatty named thing, is definitely trying to push buttons.

[Taitertots]

54. She knew them, willfully violated them, and called afterward

Sounds like a bad person to me. And "Deal with it" was refusing to honor the terms of the contract. She called and told them that she wasn't going to honor the terms (which includes timely payments).

[Curmudgeoness]

59. Whatever happened to debtors' prisons. We need a bunch of them.

I hope you never have a problem, like mailing a check and having it lost in the mail, and therefore you did not pay your bill.

BTW, I would put my FICO against yours any day. I don't pay bills late. But I know there is always something that could happen in the blink of an eye. That would not make me a "bad person".

[Taitertots]

65. I'm sure your credit score is much higher, I avoid debt and that isn't good for your credit score

It is much easier to avoid debt problems when you live within your means.

Whatever happened to intellectually honest discussion. Why are you bringing up debtors prisons?

[Curmudgeoness]

71. I bring up debtors' prison because it is apparent

that you would love to have it reinstituted. People who pay one payment late over the course of years are "bad people" to you. Well, bad people should be punished, shouldn't they? There is nothing dishonest about trying to make you see how you sound.

And it seems a good bet that you do not own a home, since there are few ways to buy a house without going into debt. Taking out a loan is not considered by most people to be living beyond your means. I guess you could own a house, if you are independently wealthy and can pay cash, but for the rest of us, debt of some kind is a necessity.

You really should take a look at your posts to realize that you are sounding like someone who would relish seeing people imprisoned for late payments on debts.

[Name removed]

73. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Curmudgeoness]

75. Then make it clear to us what you do support? What do you

think should happen in this situation? What should happen to this young lady? Set the record straight, what do you support?

You and I are on the same page on one thing, I also hate deadbeats. What we will never agree on is where that line is. We will never agree.

[Taitertots]

77. I think we will have to agree to disagree

I think the bank should have strongly warned her about the pending repo of her car, they did. I think they should allow her to repay her debts, they did. I think they should treat her with the same level of respect she showed them by refusing to honor the terms of her contracts, they did.

I don't think she should go to jail. I don't think they are parasites for expecting the money they lend will be repaid on the terms both parties agreed to.

[Carni]

60. Sounds like a bad person to "YOU"

LMAO!

[Carni]

45. Six days late?

= repossess the car? When the bank collects a late fee?

Hmmm--sounds a little extreme to me.

Gee, why do I suspect that YOU must work for Ford?

[Iggo]

47. Who said she refused to pay?

[Taitertots]

56. She did.....

She refused to pay for four days. After that she called them and refused to pay for 6 more.

[Iggo]

58. .

:rofl:

[Odin2005]

61. Nice , sticking up for the rich parasitic elites, how Democratic!

Fuck the bankers.

[Taitertots]

64. Parasites... they gave her thousands of dollars

And she is refusing to abide by the terms of the contract she signed to get it. How is directing funds from savers to spenders being parasitic? How is taking money and refusing to abide by the terms anything but parasitic?

[Odin2005]

68. IT WAS ONLY FOUR DAYS LATE!

There is no sane or just reason to repo something that is almost paid off just because payment was 4 DAYS late. Now, if it were 4 MONTHS that would be a different story.

Your lack of compassion is disgusting. 4 DAYS LATE.

[Taitertots]

70. They didn't repo it AND they allowed her to pay late. How are they parasites? n/t

[Carni]

66. He should learn to control his "johnson"

WAIT--I think I have that backwards...is it controls johnson, or johnson controls? (who controls who in this situation?)

Whatever...I am sure this guy is an awesome judge of character and is above reproach in a professional capacity of course ;)

[AlabamaLibrul]

67. Ignored

because I had a nice dinner and I'd rather not lose it all in the toilet bowl.

:puke: :puke: :puke: :puke: :puke:

[redwitch]

82. Oh FFS!

Noticed the economy lately?

[sarcasmo]

31. Tell her to go to a Credit Union, borrow the 2grand from them and pay off that loan.

You are right about them being parasitic fuckers.

[glowing]

36. I'm not sure what state you live in? But in FL, you have 15 days past the "due" date

of the note before its even considered late or they can add a late fee onto the bill... AND unless your daughter is 3 months late, it won't be repossessed... AND in fact, most states and most banks/ loan companies will do deferred payments.. every year, we can take 2 months of deferrment with our car loan.. We've had to do this 2 times.. the payments do not get a late charge and the amt is just tucked into the back of the loan.. I can't believe anyone actually would act like such a jerk for being 1 week late.. Look into the laws in your state. I believe that their are some new laws in place now that they passed that financial consumer protection act.

[Carni]

43. Can they even do that before U R 30 days past due?

I have NO idea what the law is on this now but years ago (ok a couple decades) you had to be 30 days past do before they could repo...

Four days late? Pul--eeze! They love to screw people with their late fees! ASSHOLES!

I am sick of them as well, sick of everything to do with banks these days! :(

[Atman]

53. Sorry, something sounds fishy.

Four days late and already getting harassed by the lender? Doesn't sound right. Most states (and lenders) allow for a grace period...mail does get delayed. While I understand that you're upset, something about this story doesn't add up.

[tammywammy]

62. At least I'm not the only one

They only way I could see this being possible is if the financing was done through the dealership (buy here, pay here; meaning the dealer is the one extending a loan, NOT a bank via a dealership). Those are the dealers that are willing to loan money to the more "high risk" clients, put a GPS on it and come after a car if it's a week or so late. Late depends on what kind of system you're setting up, some lots you pay every week, some once a month. If you're a week late and you're supposed to pay every week, that's different than a few days late on a monthly payment.

[Curmudgeoness]

63. She was only "harassed" by the lender because she called them.

She called to tell them she needed some additional time, and that is what started the harassment. I have a feeling that if she would not have called, and would have just paid the 10 days late, there would have been no harassment. But she did the right thing, or at least what we have been told is the right thing. You contact the creditor as soon as you know you have a problem and work with them. That is what we are supposed to do. The bank employee was out of line.

[Horse with no Name]

69. Well I am not lying about it if that is what is being insinuated

Why would I?

I thought it sounded fishy. That is why I posted it. I've never heard of such nonsense over a few days late.

I told my daughter to tell them that she is not responsible for their deadbeats and she didn't deserve to be treated as one.

I've never heard of installing GPS. To be fair, I was not present when the papers were signed. That would have surely sent bells ringing.

She is a recent college graduate and had no credit when she got the loan. I don't know what kind of deal they put her into. But, she had a considerable down payment for her car so it should have been an equity buy at the very least--not a high risk loan. She has had it less than a year and only owes $2k on a new car--she isn't a deadbeat by any means. I think she said she has 8 payments left.

It isn't a "tote the note" place. It is a bank and it was purchased at a large dealership.

I didn't know if the lady was just bullying her so that she isn't late again...or exactly what this was all about. It sounded pretty strange.

[Curmudgeoness]

72. It may be the bank employee was having a really bad day, or

it could be that she is a bully, or it might be burnout and it is time for her to find another job. Whatever the reason, this was unreasonable.

[Atman]

74. No, not buying it.

Fifteen years ago I was dead broke. We bought a car from a dealer who "guaranteed us a loan." The shitty car broke down, needed a $2500 transmission job. We called the bank, they worked with us. I just don't believe the OP's story. Not after just four days. He'll, a loan shark will give you a week before he comes back and breaks your knees. This story just doesn't smell right.

[Curmudgeoness]

76. Like I stated before, she would not have been harassed

if she was not the one to make the call to the bank. And this is not fifteen years ago, this is today. Banks are not acting the way they have in the past.

[Horse with no Name]

78. Well, since you called me a liar

indirectly, I guess that is that.:hi:

Things were a hell of a lot different 15 years ago. It isn't even the same world anymore.

[Atman]

79. I didn't call you a liar. I casted doubt on your story.

And fifteen years doesn't make difference. Legitimate lenders don't threaten repo after four days. A bank would not do that...they don't want yout car, just your payment. I would believe that you got a call reminding you that your payment was past due. But after only four days, I simply can't believe there were threats of repo. There is something you're not telling us. You bought from a cheesy dealer? You got a "special" loan? But this is not normal. You're leaving out details.

[Broderick]

83. The first thing a creditor

at a high risk corner lot will do (buy here pay here places) is disable the vehicle remotely before they set it up for repossession.