Americredit Repo Help

[mavado007]

Hey Everyone,

 

Newbie here doing some research. Thought I'd post to get some help on my situation. I own a Ford Powerstroke Diesel through Americredit. I fell behind in my payments and now I just recieved a letter from Americredit (Friday) stating I'm in Default and I owe $22,740. Let me go look into the couch cusions and see if I can find that money to pay them.

 

1. How long til they actualy come get the truck?

 

2. I've been reading alot on Americredit, are they going to sue me? Is there anything I can do? I want this Repo off my credit ASAP. How long until I can dispute it?

 

3. I don't want to be stuck paying an $8,000 judgment or anything and I'm getting pretty scared.

 

4. Any info on what I need to do or threads I need to read will be greatly appreciated.

[mixer99]

Why don't you call them and see if you can work out a payment plan, etc? I have found many creditors to be willing to work with me if I was just honest with them. The LAST thing they want is to REPO your truck because they will lose money at auction.

[Khris]

Hey there.

 

Americredit repo'd our suburban when we hit the 90 day plus some mark. We live in Texas so all I had to pay was the amount I owed (3 payments) to get my car back.

I did that, then waited about 2 months disputed the repo on my credit and they took it off.

 

If you will make at least ONE payment to them, they may leave you alone. Just do not fall into that 90 day bracket. One payment should help you at least out of the repo with them.

If you can not make the payment right now, then you need to go park your car somewhere else!!! They sent a tow and picked ours up in the middle of the night and we woke up and for a second thought it had been stolen.

[dd1021]

DH and I have a car financed through Americredit. DH lost his job last Oct. and our payments (which were out of this world) fell behind 3 months. They called constantly and we kept explaining the situation, and they never really did anything. But like I said, this went on for months and then we started making payments. We finally got caught up. They threatened to repo etc, but even after 3 month of no payments they didn't do anything but call. Good luck!

[kym]

(I am new here also)

And we also have americredit .. We fell behind as well 60 (and they threatened to repo it) even afterwards it was explained dh was fired and was denied unemployment..(I do not work outdside the home) --

We deferred 2 payments (they said that was the max) and had to borrow money for 1 payment. To become current...

 

Kym

[mavado007]

Thanks all for your advice. I'm torn between keeping the truck... The interest is so high that it's not worth the headache. I'm @ like $12,000 in total interest... pretty ridiculous if you ask me and I'm struggling to make the monthly payments plus insurance. I'm wanting to know what my options are, as stated above.

[bnamortgageguy]

You should sell it and before its a repo, even if you have to pay some difference.

[wayne0312]

And if they do repo, you are still obligated to pay it off minus what they get at an auction I believe. Keep reading on here, get your scores up...Pay what you can or ask for a deferment. Then, try and refi. They actually repo'd my car. I had to pay all late fees, the three months I was behind, and a tow fee along with storage at the yard to get it back. Quite a headache. Luckily, since then, I sold it and bought a new car at rates I could afford after reading and reading on here

[mavado007]

I have been reluctant to sell. I owe 22,000 and I know it's not worth that. Kelly Blue Book Rated it at $14,000. Dealership ripped me off. If I sell it, won't the buyer have to wait for the title as I slowly pay down the difference?

[mavado007]

Ok, I parked my truck in reverse (in case they come for it). I guess it's better to just continue paying for it until I can refinance? Also, if I call Americredit tomorrow, can I negotiate them to delete the delinquent staus on my CR in return for payment? What is deferred payment and how do I get it?

[kym]

To deferr it simply call them and tell them that you need to defer it--that simple..(you'll have to pay a fee a including late fes...but it is alot better than losing all that you have paid into it. I have 2 people there that I trust--if you get no where with them then talk to a supervisor..

[wayne0312]

Parking it in reverse does nothing. Mine was in the garage and closed. I guess I should not have answered the door, but I realized it was a losing battle. Anywho, that was the wake up call I needed. That was back in March of 2003. I've never been late on anything since then. Just call em and ask if you are eligible for a deferrment. My guess is yes cause they really don't want to take the car, it costs them money to do so. You can ask them to remove the negs, but I really don't think they will! Good Luck

[mavado007]

Bump, WhyChat... Care to comment?

[jenyphur]

Whatever you do, try everything in your power to NOT have them repo the truck. Call them, see if they will work something out with you. Repos are a mess to deal with and you'll get the 'bad' end of the stick no matter what.

 

Do you have anything you can sell to make a payment or two? Has your credit gotten any better? Can you try and refi somewhere else?

[mavado007]

Don't have anything to sell. I'll keep the truck and dispute the 90 day deliquent on my CR. Don't know how much of a pain that will be but I'll try. I was checking out the different CU's for refinancing in a few months and posted my info. on this thread:

 

http://creditboards.com/forums/index.php?showtopic=89611

 

I was hoping DCU, Patelko, or Meadows might consider me.

 

Comments?

[Khris]

I agree. They are a devil to deal with. You do not want them to come pick it up. You do have the options of:

 

1. Call and just ask them if they can push the payments to at least bring you current. You are probably going to have to make one payment.

 

2. Go and trade it in on something cheaper. Tell them the truth, you are behind and can not afford it anymore.

 

3. Go park it at another persons house until you can decide what to do. They will actually come to your work and pick up the vehicle if they know where it is.

 

 

I have heard of repo people actually running into a garage of a home owner when the garage door was opened and jumping in the car. If they are out looking for it, they will not stop until it is found.

[PrincessPolly]

I use Americredit to finance my car. Due to being laid off from my job I have fallen behind on payments. I was very honest with the rep at Americredit and I called them, I did not wait for them to call me and they were very kind, understanding and willing to work with me. If you call them and tell them everything they will most likely do everything they can to prevent a repo.

[Why Chat]

Bump, WhyChat... Care to comment?

<{POST_SNAPBACK}>

No, everyone else here has given good advice.

[bookreader1]

I just got a deferment in Jan from Americredit. I was 2 payments behind and had to pay $125 for it. I did not even ask them for it, they asked what was going on since they call everyday 4x a day and offered it. Since you don't seem to know what it is you should be eligible for a defferment once a year she said. Try talking with them when they call.

[Needful Things]

I have a Sport Trac (Wifes Car) through Americredit, was up to 120 Days late on 2 seperate occasions, they WILL REPO at 120. The repo guy showed up at the house at 5:30 AM, I told him to get off the property, he left & called the police, I told the police I would not "Peacefully" give up the vehicle and they told him to go away, in Texas they are entitled to perform a "Self help Repossesion" but only if they can do so peacefully. If you can't work it out, let me know, I may be in the market for a good truck.

[mavado007]

I just got off the phone with Americredit and they are going to defer 2 payments for a fee of over $200.00 plus past due fees of $58.00 My Grand total is $876.00 to get the truck back to current.

 

Thanks for all your help everyone, you saved me from a financial nightmare. I was seriously going to have the truck repo'd and just delete off my report. I had no idea about the judgements and nightmares I read on here.

 

Now all I have to do is dispute the Late Pays from Americredit on my CR and I'll refinance ASAP. Any suggestions for my plan?

[bnamortgageguy]

Have you had anymore luck with americredit? On getting the lates deleted?

[mavado007]

Not yet... just keep on them and they will mess up... It's a cat and mouse game

[sharnese]

They are the worst!If you dispute with them they will punish you by placing a 30 day late on your report.They say I agreed to 6 months of deferments when I have my bank paperwork showing they recieved all payments.I have a 60 month loan that is now 67 months because of these extra deferments.All of my monthly payments are being mostly paid to interest.I am due to be paid off in Jan 2006 but they refuse to correct the deferment mistake making me due in July of 2006.I have an commissioner working on my complaint as we speak.Those deferments are gonna ruin you in the long run and when you get to your last payment they are going to tell you that you owe another sum of cash.

[wayne0312]

They are the worst!If you dispute with them they will punish you by placing a 30 day late on your report.They say I agreed to 6 months of deferments when I have my bank paperwork showing they recieved all payments.I have a 60 month loan that is now 67 months because of these extra deferments.All of my monthly payments are being mostly paid to interest.I am due to be paid off in Jan 2006 but they refuse to correct the deferment mistake making me due in July of 2006.I have an commissioner working on my complaint as we speak.Those deferments are gonna ruin you in the long run and when you get to your last payment they are going to tell you that you owe another sum of cash.

<{POST_SNAPBACK}>

 

I agree that in crisis time, Americredit is not fun to work with. They will come get the car. I had someone at Americredit agree to a deferment and they came and got my car the next day anyways. I guess because it was already ordered and the repo guys only are going on their order. The repo'ers are only doing what they were accessed to do. However, getting a deferment is not gonna ruin your credit as much as a repo would. I see this thread came to a conclusion with the original poster back in April, but I don't want the new people looking for help to think they are getting a better deal by having their car taken away cause in the long run....you are still responsible for the car and will be paying for it even if it is gone!!!!