Posted by Buzzman72 on September 14, 2010 at 20:15:48 from (74.129.194.33):
In Reply to: OT Car Repo posted by barn E on September 14, 2010 at 18:16:08:
The bank is going to sell the car at a wholesale auction. So COUNT ON the fact that the car will bring less money than what's owed on it. THEN they'll add "collection costs" and "administrative fees" to the charges, as well as any lawyers feew if they involved a lawyer.
Odds are, even after the car sells, sister will end up owing as much as if they didn't sell the car...and will have nothing to show for her money. Bankruptcy? With the way the bankruptcy laws have been restructured in recent years, she may not be off the hook even if she does file bankruptcy.
But don't hide the car; if she hasn't made the payments, she's legally in default, and the car no longer belongs to her. "Possession is 9/10 of the law" would no longer apply, if possession would make her a criminal...and make YOU an accessory.
I'm not a lawyer, and I don't play one on TV. But it sounds like the one you talked to probably won't be one for much longer either, if the bar association gets wind of the advice he gave you.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Gatherin of the Orange - by Rick Nikolich. In July of 1998 I was talking to fellow Allis Chalmers collector Mike Schilling about the annual "Gathering of The Orange" AC show coming up in August of 1999. He got this wild idea that we should get a convoy of AC tractors and drive them from Charlotte, Michigan 105 miles to LaGrange, Indiana.
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
