Car repossession

Posted by BarS (207.177.61.180) on December 09, 2002 at 18:55:50:

Car has been repossessed. Late payments were due
to change in financial circumstances beyond our
control. Finance company says we must pay the
entire balance due in 10 days - $12,000 which we
do not have. Otherwise car will be sold and we
will owe the difference, probably $8000. Will
this have to be paid at once or can it be made in
payments? Are there any other answers to this
problem that we may not have thought of? Is there a company that will assume this loan and
let us pay it off in smaller monthly payments?
The finance company refuses to even try to work
with us. One person we talked to at this finance
company quoted us an amount of $1005 to get the
car back...even took our check number, checking
account number, and name of bank...next person
said they don't do that. It took almost 3 days
to even get ahold of anyone to discuss this
matter. The finance company is Arcadia. Anyone
else have similar problems? WHAT CAN WE DO?

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