Bankruptcy and Co-Signers....
Find a Conversation
Bankruptcy and Co-Signers....
| Tue, 07-07-2009 - 2:59am |
Well I guess they can take your vehicle if your co-signer files bankruptcy.
| Tue, 07-07-2009 - 2:59am |
Well I guess they can take your vehicle if your co-signer files bankruptcy.
though I can't remember your exact circumstances, I do recall the payments of the Durango were to steep for your current circumstances.
The law is if they sell that car for less then owed on it. They are going to come after you guys for the balance since you didn't go bankrupt. Then you will be left owing hundreds maybe even thousands on the car without a car I sure would get on the phone fast about this. Start with the lawyer and then the lender.
There is no time to waste.
Mary Ann
Two other questions:
Does your husband work more standard shifts on the other days of the week?
Sorry you're having to go through this! I don't know about the ways you can look into saving your car - and I hope you are successful getting some type of vehicle back - but in the meantime here's one different idea you might be able to use to get you by...
A friend of mine with a husband and 5 children went w/out a second car for a year. She had to get up, put sleeping kids in the car and transport her husband to work in the early am. I think it was 4:oo ish. It was a 30 minute one way trip. Then she and the kids came back, slept some more and went about their day and then went back to get him at the end of his shift. (I know 2 hours in the car is long and costly for fuel, but she had no other way at the time because she felt strongly that she and the kids needed the car more than it needed to be sitting in his work parking lot. I remember that particular discussion because we tried to figure out if she could get by only having to do this routine a couple days a week rather than every time he worked. She opted to just keep going.) On days when she couldn't do the trip twice because of her own appointments etc they searched for another ride, tried to meet one of his coworkers at a spot on the trip to get a partial ride or resorted to trying to borrow mine or his mom's car for the day etc. She also made arrangements with her children's friend's parents/coaches and nearby family members to help ensure that they could still have sports etc. Many times if given the choice between helping out by driving the hour trip to get the husband, or getting a child from one place and watching him/her for up to an hour until she could get back, family and friends were happy to help out. Believe it or not, she and the older kiddos who remember have some fond memories and stories of all that travel time together.
Oh, if I hadn't had sleeping very small children at the time, I would have been happy to sit at her place for the one hour 4am trip so her kids could sleep. Maybe you know a trustworthy night owl who could help you out sometimes?
I don't know the details for you and whether your husband has to use his vehicle for his job, which would make this useless for you, but maybe this (or some varied version of it) could help you or someone else in similar trouble until a different solution is made.
Good Luck,
Lissa
I'm sorry for your troubles.
Is it possible to get the use of a vehicle for a smaller fee from a family member or friend that has an extra vehicle, even for a few days a week?
I drive a very old pick up truck and am grateful to have it. I'm not sure what I would do with out it but I am not willing to get saddled with another car payment. I hope it lasts 3 years, I just hope my car maintenance fund will be enough for repairs when we need them??
Things will get better. Give yourself some time.