Imperium Posted July 27 Share Posted July 27 I learned the hard way that being petty comes back on you. In 2021, I had my ex wife’s car repossessed on purpose after I found out she was cheating on me. I ended up losing my truck a few weeks later and had to get her car out of repo in order to have a vehicle. That car broke down and costed me around $6,000 to fix and once it was “fixed”, it still didn’t run right. I ended up totaling it one day by hydroplaning and the impact caused the airbags to implode. After a few weeks of my car sitting at the yard where it was towed to, the towing company apparently junked it. I figured they would have saw it was registered under a banks name and it would have gotten repossessed again but I’m not even sure what happened to it. Anyway, after I’ve gotten myself together now I’m trying to fix my credit. I noticed I’m still being charged as late on payments for that car. I owe $16,000 on it and it’s probably worth $3,000 and that was when it was running. What can I do about this? Quote Link to comment Share on other sites More sharing options...
Admin MarvBear Posted July 28 Admin Share Posted July 28 Welcome to our community here at Creditboards. First things first, a huge welcome! We're thrilled to have you join our passionate group of individuals. Whether you're a seasoned veteran or a curious newcomer, there's a place for you here. Just a heads-up that your initial posts will be gently moderated while you gain your member status. This helps us maintain a healthy, respectful environment for everyone. Don't fret, though! It's a quick and transparent process, and soon you'll be enjoying full member access, including posting freely and joining in the discussions with equal gusto. Speaking of discussions, know that our community runs on the dedication of wonderful volunteers. We all have lives outside of this space, juggling jobs, families, and maybe even pet iguanas (who, by the way, are always welcome in our hearts!). This means that answering your questions might take a little time sometimes, as the right expert might not be available instantaneously. But rest assured, your questions will be answered! We have a fantastic team of knowledgeable folks eager to share their expertise, so just hang in there. Remember, patience is a virtue, and it often leads to even more meaningful conversations. We sincerely hope you stick around and build a lasting history with us. This community thrives on the diverse perspectives and contributions of its members, and we can't wait to see what you bring to the table! So, explore, participate, ask questions (patiently!), and most importantly, enjoy the ride. Quote Link to comment Share on other sites More sharing options...
Admin MarvBear Posted July 28 Admin Share Posted July 28 Did the owner of the vehicle have GAP policy? Quote Link to comment Share on other sites More sharing options...
Why Chat Posted July 29 Share Posted July 29 Karma is a B Quote Link to comment Share on other sites More sharing options...
hdporter Posted July 30 Share Posted July 30 If by, "What can I do ...", you are asking if there's someway by which to mitigate the $16k debt you owe, the answer is "not likely". Sounds like you rolled the dice and didn't carry collision on a car with a sizable loan balance ... and lost. (Hey, I'm a gambler; I get it.) But the debt will persist, despite the loss of the underlying asset. That's the short of it. Why Chat, hegemony, MarvBear and 1 other 1 3 Quote Link to comment Share on other sites More sharing options...
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