SO Screwed asked:
I was really sick all of last month and in a moment of a lack of lucidity, I paid my husband’s truck twice and didn’t pay my car at all. Well, now I just paid my husband’s truck and don’t have the money to pay my car til next week. I am now officially 32 days late. I have made a payment arrangement with Chase and explained the situation with them. She has given me until next week to pay last months payment and is deferring this months payment. She also says Chase does not repo unless you are 60 days or more late, but I’m not sure I believe her. I’m just wondering if its worth the money to take a cash advance and catch up now or accept our arrangement. Anytime someone won’t give me written confirmation of an agreement I am suspicious that they are going to uphold their side of the deal. I have also heard of Chase and Nissan specifically issuing Repo orders the morning after you go 30 days late. I understand that I have a responsibility and it was an honest mistake…
Payday Loan Default
I was really sick all of last month and in a moment of a lack of lucidity, I paid my husband’s truck twice and didn’t pay my car at all. Well, now I just paid my husband’s truck and don’t have the money to pay my car til next week. I am now officially 32 days late. I have made a payment arrangement with Chase and explained the situation with them. She has given me until next week to pay last months payment and is deferring this months payment. She also says Chase does not repo unless you are 60 days or more late, but I’m not sure I believe her. I’m just wondering if its worth the money to take a cash advance and catch up now or accept our arrangement. Anytime someone won’t give me written confirmation of an agreement I am suspicious that they are going to uphold their side of the deal. I have also heard of Chase and Nissan specifically issuing Repo orders the morning after you go 30 days late. I understand that I have a responsibility and it was an honest mistake…
Payday Loan Default
January 17th, 2009 at 1:03 pm
I don’t forsee them repoing you car at 32 days. I would have to recommend that you fo pay it as soon as possible as you would not want a 60 day late to reflect on your credit report.
January 18th, 2009 at 5:19 pm
If they feel they’re going to lose less money by pulling the car, they will do so. Since you’ve made firm and achievable promise to pay, you should be fine. Don’t break the promise.
January 19th, 2009 at 5:49 am
i would make every effort in paying this even if talking a cash advance. I have heard most company’s will repo you car if you are more then 90 days late, but once it is 30 days late it is breach of contract and they could do that. Repos are ugly, bad for credit and you could get sued for the difference. you did the right thing a called chase and yes they want to work with you, they have as much in it as you do. Again i would do a cash advance to get it cleared up and clear you mind.
hope things get better for you!
January 21st, 2009 at 6:21 am
I was in the auto financing division of another large bank for a while, and I can tell you, they don’t want to repo the car. Banks generally only get about 60% of the balance owed when they send these vehicles to auction. It is in their best interest to work with you. I can tell you, we never issued a repo on a vehicle that was under 60 days delinquent unless it was a voluntary repo by the Customer. Though you have a 99.99% chance they won’t repo the vehicle before 60 days, remember…..You were speaking to a phone rep, they have almost no authority when it comes to business decisions and what is and isn’t done. This rep you talked to, put an arrangement on your account, which shows good intent. Banks know people go through tough times. Good Luck.