Help1285 Posted April 24, 2022 Share Posted April 24, 2022 My brother has a car 40k financed thru Cap1, the balance is 12k. He is not going to allow them to repossess it. They offered him a settlement of around 11k paid within 6 months. Will they go any lower the longer they don't find the car? Quote Link to comment Share on other sites More sharing options...
get.randy Posted April 24, 2022 Share Posted April 24, 2022 Why would they settle for anything? Their name is on the title. hegemony 1 Quote Link to comment Share on other sites More sharing options...
Help1285 Posted April 24, 2022 Author Share Posted April 24, 2022 39 minutes ago, get.randy said: Why would they settle for anything? Their name is on the title. The car is destroyed...and they do settle. Quote Link to comment Share on other sites More sharing options...
hdporter Posted April 24, 2022 Share Posted April 24, 2022 50 minutes ago, Help1285 said: The car is destroyed 2 hours ago, Help1285 said: He is not going to allow them to repossess it. Because it's enhancing someone's property value (???) hegemony, MarvBear and StupidCredit 3 Quote Link to comment Share on other sites More sharing options...
get.randy Posted April 25, 2022 Share Posted April 25, 2022 15 hours ago, Help1285 said: The car is destroyed...and they do settle. The part about the car being destroyed was not in the original post. A financed car requires insurance. If the car is totaled, was there an insurance claim? If there was an insurance claim, why wasn't the not paid off? hegemony and centex 1 1 Quote Link to comment Share on other sites More sharing options...
centex Posted April 25, 2022 Share Posted April 25, 2022 Even if the car is 'destroyed,' no matter whether parted out or torched or otherwise totaled, your brother is still engaging in what we refer to in Texas as "hindering a secured creditor.' Further, if the car IS 'destroyed,' then why does he not want to release the remnants to the lender? Something smells here, and it is NOT the dead fish in the pond where something is likely resting... get.randy and hegemony 2 Quote Link to comment Share on other sites More sharing options...
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