Hi Rachel!
First off, your replies have been very helpful to a lot of us.
I am writing this to ask for your opinion or advice, etc. About what I should do next. I don't sleep well at night, but I don't know what to do, until I can take care of things.
I have posted before that we ONLY have 8 payments on our loan for our van. My hubby just started a job on Feb. 12th. He missed the payday because of the start date (They pay 2 weeks behind). So, long story short, he didn't receive his first pay until the 10th of March. That has not helped us out financially, and here we have this car, just sitting out in the garage.
In January, I received a xeroxed letter from Americredit saying that the car was going to be charged off. Also, it states that we are responsible for "fourth party insurance" (whatever the heck that is?). A few days later, while we were gone, the repo man came and my son answered the door.
The repo guy said "Tell your Mom and Dad to either surrender the car or else they are going to sue you." (From what I understand about the law, they can't threaten to sue you!) And so, we couldn't do anything about paying it because hubby was waiting to start a job and he was making very little and we were sweating to pay our bills and to keep the kids fed! And we were having to get help to make ends meet.
A few weeks' later, we received an "Acceleration" letter saying that we had accelerated on the loan and that they wanted the full amount due which says "$2900"... Ok, so here it is April and I have heard nothing else from them. A few days ago, I had our credit reports pulled and the car is showing up as being charged off in March for $2100. Now, what do we owe? There are two conflicting amounts and one is $800 more than the other? Would we be safe to pay the $2100 or would we have to pay the $2900? That is really puzzling!
So, I tried to get a loan from a non-profit agency that is on the military base and we were told "no" because we would have to pay it back and so on and that we really couldn't afford to do so. Plus, they claimed that we should be spending $700 a month for food! They go by FDA standards and their figures and what we actually spend were two totally different things. So, if I get a job, they will help us out.
I have applied for a few jobs and I just heard from one yesterday so I am hoping to get a job soon working part time to catch up some bills. Mind you, I am finishing up exams for 3 classes and I have just started another class. I run around like a chicken with my head cut off trying to keep a roof over our heads and take care of bills, etc. I need a vacation, but LOL.
I really would like to resolve this and not have to hand over my car over 8 car payments! But, do I trust them? Heck no! If I were to get work, they would probably sneak around and stalk me and then, take the car!
Any logical and constructive ideas of what to do? And we don't want to pay $6,000 or more if they take it! I would like to keep it for a while until I can reasonably afford something else!
We are using my husband's truck and we are cramped in it like a bunch of sardines, but hey, it gets us from A to B! It really gets to me every day to think that I could be driving my car, but I know how they work and they would be on me like a bunch of flies!
Thanks for your help! There has to be someone out there who has experienced something similar to this and I hope that they can help me out!
I am so ready to get this all resolved and move on with my life!
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