it just keeps getting better and better

[mickeym]

My mother's BRILLIANT plan of "turn my car in voluntarily" is running up against a couple of roadblocks now:

I just called Capital One, my lender, and told them I wanted to do a voluntary repossession. The CR ran through her spiel and then again, in case I didn't get it the first time, and finally connected me to a member of the Repossession Team. The lady I spoke with there told me that if I voluntarily turn my car in, it will 1) affect my credit report for 7-10 years (which I figured) and 2) they'll sell it at auction, but I will be responsible for paying back any difference between auction price and balance owed.

So now mom's all, "well, you need to check online and see if you can find any attorneys who do free consultations so we can meet with them if necessary, and oh, yeah, look in the paper and see what your car is selling for in your area--but oh, yeah, you owe more than it's worth, don't you?" Then she says, "but your aunt went and talked to the Kia dealership in Florida, and they made it sound like they'd be happy to take the car back, they prefer it that way, to having to go find it."

Except KIA isn't financing my car, Capital One is.

*headdesk*

And the repo team lady told me that depending on how it goes, they could take legal action if necessary to get the difference, including garnishment of wages, etc.

The whole thing with auctions is they sell for lower prices. So likely they wouldn't get anywhere close to what I owe on it, I'm looking at potential legal actions for collection of money I don't have, my mom seems to think that there's going to be a magical solution via a lawyer, and I'm ending up with a car I don't particularly want that I'm going to have to pay for anyway... all because my mom "isn't comfortable" refinancing my car for me.

Stop the world, I want off. Or out.

I wonder if bankruptcy would be a better option. At least then it would wipe away ALL my debt, and I wouldn't have to mess with worrying about legal collection action.

Anyone have any suggestions? At all?

Comments

[raynedanser.livejournal.com]

Man, I don't even know, but I don't think you're going to find a lawyer doing a free consult. That's still their billable time.

[mickeym.livejournal.com]

Some attorneys do free consultations -- but not all of them. I know a lot of accident attorneys, and bankruptcy attorneys. I'm actually not even sure what it is I'm supposed to be asking an attorney ABOUT. Capital One can make their own rules about paybacks, and probably don't give a damn that I'm unemployed. Not making any money isn't going to give me surcease on having to pay my bills.