Bought a SUV in my mother in law signed for the loan because my husband & I credit was not good enough to get loan and my husband was laid off at the time. Got menipulated into purchasing this vehicle because we were in need of one.interest rate is way up there and my mother in law had good credit at the time. She agreed to pay for the truck to help us out. We would get behind a couple of days after the due date but always had our payment in.
Then in October my mother in law was getting ill and I had to move her in to our home and quit my job. Now instead of having my income and my husband plus my MIL little bit of income, we are now down to just my husbands (which is only $300 a week) and my MIL income. We have a mortgage to pay alsong with utilities and the car payment. We got behind in paying by their calculations of 3 months-I am not sure if that is true.
We would get messages left to call but every time one of the collectors would call it was from a different area. Finally I would just hang up when the call would come in. Then the other day, the cure of default came and said I owed them $1400 by 5/23 or they were going to take the vehicle. They called again, I answered on the other end was some guy named Nick-told me they need the money now-told them I don't have it but will have $700 on the 3rd of June. That was not good enough they want money now-I told them come and get the truck-they told me they don't want the truck-they want money. I told them they will either have to wait till the 3rd or just come and get the truck. Nick told me that he couldn't make that type of arrangement that the account manager (Vern) will have to talk to me - I told him to have Vern call me the next day and I hung up.
The next night, the phone rang I answered it, it was 8:32p. M she told me her name and that she was calling about my mother in law payment being late. My husband is her P.O.A. Since she has come down with dementia. I told the girl I can't pay anything till the 3rd, she saod that was unacceptable, I asked where Vern was and she said Vern was not available and that he would give me the same answer as she did. I gave her the same answer. Told her that my income is out the door and that we are living barely with what we got, she said that we are ruining this poor old lady's credit by not paying and I said the reason why we are behind is because I had to take this poor old lady into my home and quit my job to take care of her. She did not want to hear it, I told her to tell me when they were coming for the car and I will take ot over to her house for them to pick it up. She told me that I just better do it that night, I said fine.
They do not even want to hear about the struggles that we are going through, so I will give up the truck and not pay them a dime. It will be soon that my MIL will have to go into a home and her income will pay for the home and Wells Fargo will be out of a payment because I really won't be able to afford it. They threatened to put a lien on her house, I said go for it cause the bank owns it right now and medicare will get the money first in the event that she passes away.
I have not gotten one phone call today, but have been on the watch for the wrecker to towe the truck away, which will be an embarrassment to me for my neighbors to see this but I don't care-they are greedy, inconsiderate and ignorant when they call.
Wells Fargo was able to get all their bail out money and the CEO to get his big raise but to suggest that they help the poor guy who really works hard to support his family and try to put food on the table and agrees to pay at least 2 payments in June, but no they say say they helped us when they let us drive the vehicle for 3 months without a payment.
I worked collections at a credit union, and I thought the law was you had to receive at least 2 letters of delinquency, then a cure default, then a ltter of intent to repossess before any repossession can take place. I don't know maybe they have rules of their own.
Can someone give me any advice or help on what to do?
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