car repo, questions concerning what to do.

[chasev]

I have recently had my 2002 Kia Rio repoed. I made payments for 3 years blew the engine, got backed up on the payments( trying to save money for a new engine) by 2 months. I couldn't come up with the money the wanted me to pay, so I had no other choice but to let them take it. Now they are telling me I still owe them $3600 dollars. Should I just arrange to make payments, and if so how does that work. Does the bank just come up with a payment or do we figure out what I can pay. My girlfreind is the co-signer and now her credit is going to take the hit along with mine. I also heard that if you don't make any payments for a year there is a good chance they won't take it to court. Is this true?

 

[lwpat]

It just depends. Usually they will sell it to a CA who will hound you and keep putting it on your credit report. In the menatime the interest and fees will keep adding up to the point where they may take you to court and get a judgment. Then they will hound you for payment of the judgment. Best advice is to change your phone number and get one that is unlisted.

 

[chasev]

Quick question, would it be better just to arrange payments or see if they evently take me to court.