CHARLOTTE, NORTH CAROLINA -- I'm not going to drool on and on about how pitiful my situation is. I'm late with the payment, in process of a chapter 7 filing. I have a reasonably good reason but it doesn't matter, I collect money for a living too and I have heard them all before...some true, some lies.
I was trying to work something out with Wachovia Dealer Services (on their terms this time) and now after reading all of these comments, not only from people who have not paid their bills but from people who did pay them and never got clear title, bad credit reporting and other awful things I'm scared to send them any more money. Yes, I owe them and I actually want to pay.
My chapter 7 should be filed any day now after months of collecting information and submitting to my attorney along with payments for the same. I am filing bk because of a failed business, not because of personal debts. I do not want to include Wachovia in the bk and would gladly reestablish or reinstate this loan but now I'm afraid to send them anything.
If they repossess my car, they will loose money at the sale, it's guaranteed. The car has 70,000 miles and was damaged in the amount of 8500 in February (and fixed..but still it's about half the value of the car..shows up on Carfax etc). I'm willing to pay them the principal in full in exchange for reduction of interest rate/payment modifications but they will not hear of it.
Their Charlotte representative ERIC has told so many lies to me, my bankruptcy attorney and apparently even his bosses that I absolutely refuse to talk to him again. None the less today I was told by his supervisor I had until 5 tomorrow to settle this, and I found a way to do so late this evening. BUT at 2 am a tow truck showed up with notes from today... so how am I to settle? They know they won't get paid from me because of the Bankruptcy if they take the car they LOOSE 10K +/-. If they work with me, they get paid the full principal and reasonable interest. Seems like a no brainer! I Win (keep post bankruptcy credit), they Win (get all their $$$). But they seem hell bent on repossessing the car regardless of any version of common sense.
Sure there are irresponsible people out there who don't pay their bills. Many of the post I've read here and on other sites are ridiculous and I can understand why they lost the car, but a lot of them sound like they were working it out, paying it back, etc. Don't you think that some of the problem we have in the country is because of unfair credit collection practices? Harassment and being treated this way is not the best way to get paid in full. No wonder this bank went out of business... unfortunately it did not take it's employees with it. Of course I live and work in the very town where Wachovia is (was?) headquartered and loosing jobs means I loose work so it's a double edged sword for me.
This is bad business, bad bad business. Temper practical business practices with common sense! Try to be firm but polite and fair, try to reasonable separate the people who will never pay from those who had a temporary bump in the road and will pay. I paid on time for 3.5 years before hitting a bump.
What is funny is that many of the same mean awful people who have given so many people grief on the phone are now loosing their jobs, I can't wait until it's their turn. Maybe then they will see how it feels to be a person who wants to pay, but can't meet the demands of a rude/nasty/lying collection agent at the other end of the phone. Yes, you can afford to pay your bills today, but what if you loose your job and can't find one again for years. HELLO, WAKE UP... this is our world today! Help those who can be helped keep the car so they can in time pay off the full principal and a reasonable interest rate. Let the rest go, they won't fight you too hard anyway.
DON'T BOTHER CRITICIZING MY GRAMMER AND SPELLING, it's 5 am after I was awoken by the tow driver. I am not spell checking or proofing this! My car is 1500 miles from here and Wachovia knows that.. I almost felt sorry for the tow truck driver. Look for the car at 2 am OK, I get it, but RING THE DOOR BELL AT 2 AM? Come on!!!!!!!!