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Mom Confessions Mom Confessions

Our truck is being repo'd

Posted by Anonymous   + Show Post
We have a title loan on it and we don't have the money to pay it until next week. They don't give a grace period. We have been paying $200/month for a year now and it's not worth it. To get it out it'll cost close to $1500 and the truck really isn't worth that!!! Dh isn't mad, he's being very reasonable about it so that helps alot! We do have 2 other cars. The only reason I wanted to keep the truck is because that's the truck my water broke in and the truck that ds was brought home in.
Posted by Anonymous on Jan. 28, 2013 at 11:31 AM
Replies (11-20):
sweetmissy_05
by Gold Member on Jan. 28, 2013 at 11:39 AM

That sucks so sorry to hear that.

Anonymous
by Anonymous 3 on Jan. 28, 2013 at 11:40 AM
Totally agree.
Way to reach your kids to be stupid with $.

Quoting Anonymous:

But it will still be on your credit report for YEARS and prevent you from buying oher things that require credit.  Doesn't your credit rating matter to you?  Or the ethics of it?   You signed an agreement to pay, then didn't pay.  You are a poor risk due to fiscal irresponsibility now.  If I were you I would be furious if my husband "took it well" when it means a black mark for at least 7 years.


Anonymous
by Anonymous 1 - Original Poster on Jan. 28, 2013 at 11:40 AM
They didn't say they're coming to get it, we just know its due the 28th and we don't have the money to pay. They said "If its a day late we have all rights to come pick it up".

Quoting AmyL3469:

Weird... I did a voluntary repo before when I was pregnant and lost my job. Took the morons like 6 months to come and finally take the car. I knew I couldn't pay for it, it was dead, told them, come take it! Then you miss one payment and get screwed. Silly how those things work. At least you have other vehicles.

Quoting Anonymous:

They used to but new owners bought it. It's just a way for them to make even more money I think.



Quoting AmyL3469:

That sucks. Odd they don't give a grace period, never heard of that before. 


Anonymous
by Anonymous 1 - Original Poster on Jan. 28, 2013 at 11:42 AM
Rent and food are more important than a run down truck. And she's not even old enough to know what money is.

Quoting Anonymous:

Totally agree.

Way to reach your kids to be stupid with $.



Quoting Anonymous:

But it will still be on your credit report for YEARS and prevent you from buying oher things that require credit.  Doesn't your credit rating matter to you?  Or the ethics of it?   You signed an agreement to pay, then didn't pay.  You are a poor risk due to fiscal irresponsibility now.  If I were you I would be furious if my husband "took it well" when it means a black mark for at least 7 years.


Nicoleb9
by Emerald Member on Jan. 28, 2013 at 11:42 AM
The ethics? How is that any different than pawning something? The money they give is so much less than the item is worth. It's the deal. Keep the loan money and they keep the item which is worth more than what was loaned. It's part of the deal. They aren't the same as traditional auto loans where there may be a short fall.

Quoting Anonymous:

But it will still be on your credit report for YEARS and prevent you from buying oher things that require credit.  Doesn't your credit rating matter to you?  Or the ethics of it?   You signed an agreement to pay, then didn't pay.  You are a poor risk due to fiscal irresponsibility now.  If I were you I would be furious if my husband "took it well" when it means a black mark for at least 7 years.




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Anonymous
by Anonymous 4 on Jan. 28, 2013 at 11:44 AM
That's sucks. Your credit is going to be shot and they will be harrasing you from here on out for the loan amount and a shit ton of fees. Title loans are horrible things. Those companies take extreme advantage of people. We took out a loan once to help make up for expenses after I had surgery. 600 loan that we ended up having to pay 270 a month on. We paid it for 14 months! I finally paid it off last month because we finally had extra money. They still haven't returned my title. I wanted to let them take it so bad but I didn't want that hit on my credit.
Anonymous
by Anonymous 4 on Jan. 28, 2013 at 11:46 AM
1 mom liked this
Ethics? Do you have any idea how those "businesses" work? They are the unethical ones!

Quoting Anonymous:

But it will still be on your credit report for YEARS and prevent you from buying oher things that require credit.  Doesn't your credit rating matter to you?  Or the ethics of it?   You signed an agreement to pay, then didn't pay.  You are a poor risk due to fiscal irresponsibility now.  If I were you I would be furious if my husband "took it well" when it means a black mark for at least 7 years.


Anonymous
by Anonymous 5 on Jan. 28, 2013 at 11:46 AM

At least you have two other vehicles!! I am a Divorced, Single Mom of four and my 24 year old is living with me and my other two Daughter's that are 14 and9. My Son who is 19 is in Nevada now. My Daughter has two children aged 2 and 4 and it gets very overwhelming here, as me and my two young ones are trying to hold on to the future when we will have only three of us together. Anyways, my Daughter and I had an agreement where I was to pay the rent and all the other bills and she was paying just the 380.00 a month on the van payment. It started having MANY problems, not worth keeping. She and her live in boyfriend, father of the children stopped paying and owed three months that I was not aware of!! So as of last Sunday I have not been out of my house. A very dismal situation!! I have had my own vehicles for over 30 years and now I am patiently waiting for money that is due to come in soon, as my Grandmother and Father passed last year nine months seperate of one another. That is a complete story in itself different!!  My Daughter and I are both on SSD and have many health issues and life is impossible without a vehicle. We had paid 10,000.00 on the van and what a travesty that I even made a life altering change with my Daughter to begin with, as she is getting older and hold everything over my head. You were right to dump the truck, even tho the reprocussions.

Anonymous
by Anonymous 4 on Jan. 28, 2013 at 11:47 AM
1 mom liked this
Do you discuss all of your home finances with your kids?

Quoting Anonymous:

Totally agree.

Way to reach your kids to be stupid with $.



Quoting Anonymous:

But it will still be on your credit report for YEARS and prevent you from buying oher things that require credit.  Doesn't your credit rating matter to you?  Or the ethics of it?   You signed an agreement to pay, then didn't pay.  You are a poor risk due to fiscal irresponsibility now.  If I were you I would be furious if my husband "took it well" when it means a black mark for at least 7 years.


ashybaby87
by Silver Member on Jan. 28, 2013 at 11:48 AM

Luckily you have 2 other vehicles though....

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