Voluntary Repo or?

[Thea]

Jurisdiction

Virginia

Background: Daughter meets guy. They date for a while. Guy decides to trade his new truck which in underwater for a new car and ropes daughter into co-signing new loan. Relationship fails- go figure- he has the car. She never have possession of the car. He stops paying on it, stops paying property taxes on it, insurance and registration lapse. He is filing for bankruptcy April 1- supposedly.

Naturally, creditors are coming after her, but she doesnt have the car. She told lender to voluntarily repo car. Dealership says he cant file for bankruptcy with her name on the loan- Im not a lawyer, hence why Im asking. Yes lawyers are very expensive for little ROI.

Fast fwd to today. Guy emails stating that he left the car in a parking lot with the keys in it.

What's the best short-term advice to consider?

1. Go get the car and secure it.
2. Move the car to her apartment and call lender to come get it.
3. Dont touch the car, but call the lender with location.

Either way, she understands that she will owe. Expensive life lesson. Just trying to figure out the best approach. Paying the monthly payment is not possible. Bankruptcy herself is not possible. Local attorney's wont touch the case.

 

[army judge]

What's the best short-term advice to consider?

1. Go get the car and secure it.
2. Move the car to her apartment and call lender to come get it.
3. Don't touch the car, but call the lender with location.

Choice 1 will allow YOU or HER to protect the vehicle and keep it safe and secure until the lender's repo agency arrives to take the vehicle into their custody.

Choice 2 offers some protection to HER, unless the vehicle is damaged during transport.

Choice 3 offers some protections to HER and those who assist HER, but many things can happen beyond your control.

What you ask?

Why an inebriated, unlicensed, uninsured driver could crash into the vehicle.
Maybe a car thief arrives and damages the vehicle while trying to break into it, or crashes it when he gets it rolling.

Choose wisely and stay safe out there in that big, beautiful world in which we live.

 

[justblue]

Background: Daughter meets guy. They date for a while. Guy decides to trade his new truck which in underwater for a new car and ropes daughter into co-signing new loan. Relationship fails- go figure- he has the car. She never have possession of the car. He stops paying on it, stops paying property taxes on it, insurance and registration lapse. He is filing for bankruptcy April 1- supposedly.

Naturally, creditors are coming after her, but she doesnt have the car. She told lender to voluntarily repo car. Dealership says he cant file for bankruptcy with her name on the loan- Im not a lawyer, hence why Im asking. Yes lawyers are very expensive for little ROI.

Fast fwd to today. Guy emails stating that he left the car in a parking lot with the keys in it.

What's the best short-term advice to consider?

1. Go get the car and secure it.
2. Move the car to her apartment and call lender to come get it.
3. Dont touch the car, but call the lender with location.

Either way, she understands that she will owe. Expensive life lesson. Just trying to figure out the best approach. Paying the monthly payment is not possible. Bankruptcy herself is not possible. Local attorney's wont touch the case.

Interesting...You were here last summer with the same exact situation between you and your boyfriend. It's sad that your daughter didn't learn from your mistake.

Contract Law

Option 1 is the best and wisest thing to do.

 

[mightymoose]

The lender wants money, not the car. They don't have to repossess it.
Is you have the means to acquire the vehicle certainly do so. Consider just making the payments as was originally agreed.

 

[Thea]

Interesting...You were here last summer with the same exact situation between you and your boyfriend. It's sad that your daughter didn't learn from your mistake.

Contract Law

Option 1 is the best and wisest thing to do.

To be clear, its not my mistake. Its her's. Trust me, as a young adult, she has to bare this monkey on her back, not me. I can afford to pay cash for a new car. She learns nothing by me bailing her out financially. The COVID lockdown over the past year didnt help. So here we are today. Thank you everyone for your opinions. The car has been secured.

 

[justblue]

To be clear, its not my mistake. Its her's. Trust me, as a young adult, she has to bare this monkey on her back, not me. I can afford to pay cash for a new car. She learns nothing by me bailing her out financially. The COVID lockdown over the past year didnt help. So here we are today. Thank you everyone for your opinions. The car has been secured.

So when you posted last July you lied when you said it was your ex bf and he screwed you over?
I don't understand why people do that. Silly really.

 

[Thea]

So when you posted last July you lied when you said it was your ex bf and he screwed you over?
I don't understand why people do that. Silly really.

No sir. My daughter started the thread, I stepped in recently once the truth of the situation came to light. I do apologize for any misunderstanding.

 

[justblue]

No sir. My daughter started the thread, I stepped in recently once the truth of the situation came to light. I do apologize for any misunderstanding.

Not a "sir".

It creates less misunderstandings if people don't share user names. It takes just a few minutes to make your own account and it's free. And it's always better for members to post for themselves.

 

[Zigner]

Why did you"step in"? This is your daughter's matter - she ought to be the one working it out. You could guide her to the right places to ask questions, but it really ought to be her doing the virtual legwork.

Is your daughter actually on the title as an owner of the vehicle?

 

[zddoodah]

Has your daughter just been sitting on her thumbs for the last nine months since she posted about this?

Dealership says he cant file for bankruptcy with her name on the loan

That's untrue and just plain silly.

What's the best short-term advice to consider?

Please review the "Legal Disclaimer" at the bottom of every page at this site.

1. Go get the car and secure it.

2. Move the car to her apartment and call lender to come get it.

If she on title, then it's her car, and there's no reason for her not to take possession.

Dont touch the car, but call the lender with location.

If she wants to help facilitate repossession, this would be the obvious, logical thing to do.