Ive been Evicted, and had a car Repoed?

well, im 24 years old currently live in NY. back in 2006 i moved to florida bought a car and rented an apartment. well i lost my job, and got evicted in june of 2007. subsequently i moved back to NY and drove the car i purchased back to ny with me. i moved back in with my parents, and during the whole process i fell behind on my car payments and my car was repoed in april 2008.

currently i am paying 50$ a month on my eviction payments. the total due is over 6000 dollars. i know its a small payment but thats all i can afford. im a full time student and will graduate from comm college i may, and plan on enrolling in a 4year school in the fall. i have not heard anything from the finance company of the car. they do have my address and my phone # but still havnt heard a word. is it possible that they will not try to collect the debt? just brush it under the rug? i still owe over 5000 dollars on it…

2006-2008 was a very rough period for me, but im getting my life back together. these 2 years has destroyed my credit.

should i even pay off this eviction? is it even worth it? it will be off my credit report in 7 years right then there will never be a trace of it correct? should i just wait it out a few years? and is it possible that the car place has just squashed my debt?

advice plz.. thanks!

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  1. These debts usually come back to haunt a person. By paying you show some degree of integrity.

    If someone owed you money, how would you feel if they wrote the above?

  2. Really, you have two options. Either file bankruptcy and offiically get rid of the debt, or suck it up and pay them off. If you are going to file bk, I would do it as soon as possible and include the apt and car stuff. This way, by the time you are out of college the damage the bk does to your credit report will start to age and you’ll be able to start recovering. What you don’t want is to just hope the car company isn’t going to come after you and then do so 4 or 5 years down the road which they very well might.

  3. It goes off of your credit report after 7 years, but I’m almost certain if you don’t pay it off they can put it back on for another 7 years. I don’t know how often places do that but it’s a possibility. Your credit is probably in pretty bad shape due to the car situation, not paying won’t help at all.

  4. They will not brush $5000 under the rug.

    Also, how do you plan to pay for the 4-year school? If you have a $6000 debt on which you are paying only $50 and a $5000 debt on which you are paying nothing, then you will not be approved for a loan.

  5. Every time you have sent a payment, you have reset the counter to seven years on that eviction. If you stop paying, they will probably sue you.

    You will more than likely hear from the car company sooner or later. If you moved states they might still be looking for you. Since they have so much time, they will find you before the seven years is up, and all they have to do is take you to court to reset that one.

    You’re more than likely going to have to pay soon enough.

  6. i think the reason u hadn’t heard from any 1 is b/c yer probably not working. they can’t collect if there’s nothing 2 collect, right? k. now, what i’d do is IF u have fin aid is take yer refund from that & try 2 save back as much as absolutely possible & NOT spend a dime. yer gonna NEED that $$$ 2 help u get another place & u need 2 1’st care 4 yer own needs, THEN worry about paying off anything else w/ what’s left. secured debts r relatively higher than unsecured debts, so u can consider that. yes, the car was repoed but u currently have nothing 2 pay w/, so just focus right here & now on getting back on yer feet by saving ALL u can & NOT spending ANYTHING 4 ANY more than u absolutely MUST. as a future astronaut, i’ll break this down so u can understand;

    if u were on the Moon, or even Mars; VERY FAR away from home, ALL u have is the immediate bare essentials 2 carry u over several months, maybe a few yrs. once its gone, it’s gone. there’s no more & u can’t go 2 the store up there. u must make yer supplies stretch til u return home, by making do w/ what u already have, & finding creative ways 2 reuse some things.
    there’s some similarity 2 yer $$$ situation. u must ALSO make yer small amts of $$$ last til u get a job. look around. find out what $$$ u have NOW & SAVE. get creative & save all u can, as if this were 2 preserve yer very life. if u were in the middle of the ocean, u’d B thinking of staying afloat til help arrived. think of yer $$$ as yer virtual life raft & protect it w/ yer life, b/c u never know just how long it may B til yer actually out of the woods

  7. get it paid off as soon as possible been down that road. wife was hi by a car while walking, no insurance. that was seven years ago, just starting to recover. don’t bank rupt 10 years to recover

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