Questions about repossession..

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Registered: 04-05-2003
Questions about repossession..
Sun, 02-19-2006 - 4:59pm

Well I could not believe it but my DH's truck was repossessed on Friday night. We were 45 days late on the payment and I had been talking to them so we were shocked to learn that they had repossessed it. We have not yet spoke to anyone because of the holiday and the weekend. We want to try and get the truck back. I was able to speak to an agent at the financial institute and he said the we should be able to get the truck back if we can bring the account current and pay the repossession fee. Luckily we received our tax refund on Friday and should have enough to get it back.

A few questions that I have are: Will this still show on my credit as a repossession even if I pay and we are able to get it back ? It is it hard to get the car back now that they have it ?

Someone told me that the fees will be so high that we will never be able to afford to get it back..

Any help or advice anyone can offer would be appreciated.

Thanks,
A