Help: What is the Best thing to do for Repo Car

[shadow]

^eh di huwag na....

[Syuryuken]

The collections people said that I have 20 days to make a request or something.. I'm willing to settle kaso the amount that they mentioned for the legal fees (180k) is something that I can't afford right now.. can I try to negotiate with it or something? thanks for the help!

bili ka na lang ng 2ndhand sa 150k mo tiis ka muna hanggang makaipon ulit ng pambili ng maganda-gandang sasakyan

[Manilablock]

I know kaso need ko talaga rin sana ng car kasi disabled na yung mom ko and bihira lang ang taxing papayag (na walang dagdag bayad) para isakay sha.. hay... first time ever kasi to kaya mejo panic mode ako

Maybe hindi na car ang need mo, maybe something with a higher ceiling para hindi mahirapan ang mom mo na sumakay at bumamba, a van would be more appropriate.

Hindi naman kailangan BNew, basta alaga lang. ung pwede mo i-purchase ng cash.

[ghosthunter]

I already talked to them and here are the options they presented:

a. Let the bank repo the car and sign the form saying that I am already cleared with the debt (Is there really such a thing?)
b. Write a letter of request asking for reinstatement/consideration but I have to pay daw worth 180k lawyer fees

I read that if the bank repo'd the car, it will reflect to your bank credibility for at least 10 years...

I think you can still negotiate so you can continue payment on the car without having to pay the lawyer's fees. Trying talking to someone higher up the food chain at the bank than the minions because the minions will just carry out the orders, they have no deciding capacity.


By the way, how many payments is your bank load, how many have you done and how many have you missed?

[eleyn27]

Maybe hindi na car ang need mo, maybe something with a higher ceiling para hindi mahirapan ang mom mo na sumakay at bumamba, a van would be more appropriate.

Hindi naman kailangan BNew, basta alaga lang. ung pwede mo i-purchase ng cash.

paralyzed kasi yung mom ko from the waist down so kinakarga sha dahil di na sha makalakad and di pwede mashadong matagtag.. sayang yun rin sana yung gift ko sa daddy ko dahil retired na sha wala man lang sha nabili for himself

[eleyn27]

I think you can still negotiate so you can continue payment on the car without having to pay the lawyer's fees. Trying talking to someone higher up the food chain at the bank than the minions because the minions will just carry out the orders, they have no deciding capacity.


By the way, how many payments is your bank load, how many have you done and how many have you missed?

yah sana nga there is a way to talk to a person with a higher post.. is it ok to present payment options that I'm willing to undertake? Like PDCs or opening a bank account there.. 60 months (5 years) yung car loan and I missed 3-4 months of payment

[mark_t]

Forget it. You already surrendered the car.
Get another car when you are ready. Get another bank.
Sobra naman 3 months lang, Na delayed din kami ng 3 months
For a whole year eh 5000 lang a month ang extra interest. Natapos din with bpi.
You were dealing with sharks.

We asked for a relationship manager with the bank who gives us instructions to not mind
Those lawyers and just continue paying. Nakakainis nga lang kasi sobra sobra na bayad.
Pero ganoon talaga eh.

[cpsolt]

naku... ganun palang ka-lupit ang BPI. doon ko pa naman nakuha ang akin BPI Family Savings Bank.

[mark_t]

naku... ganun palang ka-lupit ang BPI. doon ko pa naman nakuha ang akin BPI Family Savings Bank.

Ang solution is pay 1 month ahead extra, 2 months kung kaya. Para kasi chess
yan, pag na delay ang kita mo ng 1 day e check mate ka sa bank.

May style pa sila sa insurance na underinsured ang policy mo para mura,
So mukhang ok nga naman-dual purpose policy ata tawag nila at pag nag agree ka
Dahil mura nga naman, ay kakainin ng insurance yon Monthly amortization mo.
Mabibigla ka ngayon delayed ng 1 month bayad mo, eh diba automatic
5000 charges mo, eh napamahal ka pa tuloy dahil lahok lahok na. Npahamak ka pa tuloy.

Pero neighbor ko 1 year bago kinuha yon van na loan nila, I think
pina rent nila ng 1 year yon van para ma bawi downpayment nila then saka pina sundo
sa bank, pirmahan lang sila sa garahe. Then kuha sila second hand car a week after.
Hindi maganda experience nila sa brand new, Ngayon sa second hand car free gasoline
sila sa office so na swerte naman sa new job.

Tiempo tiempo lang.

[mark_t]

Forgot to mention, pag na delay ka 1 month, kakainin budget mo for the next monthly
amortization ng charges. So magiging 2 months delay na dahil partial payment does not
mean full payment. 2 na charges na babayaran mo bago pumasok sa principal ang payment.

Kalokohan yon argument na kailangan hatakin on the 3rd month ang sasakyan.
It is a secured loan. If you choose to continue then do so. Bakit pera ba ng bank ang pinangbili?
Lahat yan galing central bank pera, ilan percent ba exposure ng bank sa car loan mo na secured?
Gaano ba kabilis nila ma subasta yan to even discuss depreciation?

The game changes when you surrender the vehicle.
Then you abandon your loan. Ikaw ang nagtapos . I think this is where the racket lies.
Ganito kasi nangyari sa mga problamatic namin na property. Bigla natapos
lahat problem ng nawalan ng tao yon yon leased property, automatic naging abandoned.

Pero tuloy bayad namin sa lawyer dahil kailangan pa raw ng ilan hearing to make it
official.

When I could have just sent a gardener to secure the building.

Now back on that 10 year blacklist ****!
Ang dami banks then bring your business to the other banks.
On car loans so long as you can pay 30% downpayment then the broker
of your loan is guaranteed his 10% share.

Hindi ba niya piprmahan yon? Eh hindi naman siya ang kakayod.
At may capacity to pay naman