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What can happened to a vehicle they are wanting to repo?

Submitted by roadside on Sunday, 28 December 20085 Comments

lightthenight asked:

They are looking for one of my vehicles, which I am way behind on payments. The vehicle is in Mexico at the moment. Can they report it stolen? Can I get in trouble? I plan to return it at the end of the month and I have already told them so. I know it is very bad and irresponsible from my part, but I can not afford it anymore.

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5 Comments »

Chris R said:

Not report as stolen.

They will put a lien on it and it will go statewide. I don’t know if eventually they can report it as stolen.

Most likely it will go on your credit as a secured debt gone bad.

- 31 December 2008 at 11:19 am

dude I said:

You can end up in major problems. The care is mortgaged and it is against the law to hide or conceal mortgaged property. You could end up with criminal problems if you continue to not produce the car.

- 31 December 2008 at 8:49 pm

Sallad08 said:

Yes they can report it stolen. If you worked out releasing it back to them then they shouldn’t be looking for it. Just remember you will still be responsible for what’s left or owed after they auction it. My sister just had hers repoed and she still had to come up with 4500.00. The sooner you turn it over to them the better. Good Luck!

- 2 January 2009 at 4:41 am

stan c said:

If you’re having other financial problems, perhaps you should contact a bankruptcy attorney in your area. Usually there is no fee for the first visit.

- 2 January 2009 at 7:38 pm

EDWARD FERNANDES said:

Since the vehicle is mortgage they can REPORT as Stolen, Missing,Debts recovery, Criminal procedure etc. ACT FAST & convenience them your difficulties

EDWARD FERNANDES

- 5 January 2009 at 4:15 pm