Repo a Truck Camper???
I have a 2yo 2018 Travellite 770, I live in it full time (with other option) and still owe $11k. A stilt is falling off, step broke, shower and other things don't work. The thing is more or less tota...
Forum Discussion
ferndaleflyer wrote:
Been in the repo business. Yes we can get it, with a roll back strap around it and winch it on the bed and down the road we go. Might take 5min at 3 in the am. Now you just added $4-500 to what you owe. Where we were they had to hold it 30 days and normally would auction it off. Those things sell for hardly anything. Now you have added storage and the auction cost to what you still owe after deducting what they recovered at the sale. Lender will come after you for awhile then sell it to a collection outfit. The bank 9 chances out of 10 will write the loss off. The collection outfit will hound you for the rest of your life. BUT if you have any assets and the amount is enough the bank will attach everything you have. Best way out is make the payments.
I'm sorry I answered before you posted this, because how you describe it, is the cold hard truth. I had mentioned seeing the process firsthand after a relative got into financial trouble, and it was ugly. And you're right - the collection folks are vicious and will contact every single person connected to the repo-ee, no matter how unlikely the connection may be.
