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2 Bumps

Am I wrong to feel so stressed, agrivated, etc.?

I'll try to keep this short.

Years ago I was not too responsibe with money and I was also unemployed for a long time. I ran up several credit card bills then ended up not being able to pay. Now one of them is taking me to court over the debt.

I live in Tennessee and what I've gathered is that if they get a judgement against me they can take my car or whatever else I have that's worth anything. I have a nearly new car that I owe a little less than the value of. This is where the big issue starts...

I thought it would be a good idea to sell it then use the money I get to buy a cheaper car, around $5000-6000. Since I have good credit with that bank I'd turn around and borrow the maximum ammount that the cheaper car is worth. That way it wouldn't be worth taking. Plus I'd have a little money to work out a settlement.

Well, I explained my situation to my parents who totally disagree with me selling the car. They gave me some money to put towards a down payment on it so they're pissed that I want to sell it to get something cheaper. They are thinking about paying the car off and putting it in their name. I'd pay them the rest of the money owed on it. Were not sure if that's legal though.

The thing is, I kinda wanted to sell or trade it anyway. Theres nothing wrong with it, it's a pretty nice for an econobox. What I don't like is that it's really slow and I hate the shifter. I had thought about getting a 2011 mustang but that's out of the question now. What I really want is a 1990-1993 Mustang. I know how to work on them and I know that a carseat will work just fine in it.

If I told my parents I wanted to get another Mustang they would have a huge fit and probably hate me forever. They don't think they're that safe for a baby to ride in. So, I'm mad at myself for getting into this credit card mess. I wish I wouldn't have let my dad give me any money to help get a new car. I hate being "under their thumb" on anything. I know it's awful, but I feel a little resentful because if my son was never born I'd have never bought a new car or sold my old Mustang. I hate all these feelings. I love my baby more than anything. I just don't know why it's such a big deal to them that I want a mustang. It almost feels like they're punishing me. I wish I could give them their money back so they couldn't say anything. Ugh.

I don't know what to do!!!1

Answer Question
 
Anonymous

Asked by Anonymous at 11:01 PM on Apr. 4, 2011 in Relationships

Answers (5)
  • sell the car back to them even if it's $1.00....put it in their name.
    Drive it until your credit cards are settled and then get what you want.
    ItsJustMe1017

    Answer by ItsJustMe1017 at 11:04 PM on Apr. 4, 2011

  • Let them help you with the car you have now and get out of debt! You can get another mustang later on.
    bdflykisses

    Answer by bdflykisses at 11:05 PM on Apr. 4, 2011

  • They can't take the car if it's not your's....it belongs to the bank. The only creditor that can take the car is the bank you owe (as in repossession). Creditor's can get a judgment against you but they can only enforce it if you sell something...LIKE THE CAR. If you sell the car you have to give the money to them so it won't go toward a new car. Keep the car. Let them take you to court. The court will order a payment plan or you can file bankruptcy (yes you can keep the car). It's not as bad as you think. You will be fine.
    Anonymous

    Answer by Anonymous at 11:10 PM on Apr. 4, 2011

  • Mustangs & car seats do not mix. Had too many trail & errors w that. Get out of this mess & get one ad your 2nd vehicle, not ur primary.
    shynu

    Answer by shynu at 11:34 PM on Apr. 4, 2011

  • I only owe $5900 on a car that's worth twice that. They can take it, sell it, pay the bank, keep the rest.

    I think I'm going to talk to a lawyer. I hate the idea of signing my car over.
    Anonymous

    Comment by Anonymous (original poster) at 4:02 PM on Apr. 5, 2011

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