What can I do to avoid collection agencies getting possession of my car ?

Question

Put it in a friends name as owner ? I would like to get some ideas from people that have experience with this. The bit of money I do have will not be near enough for next year. Do I literally have to bury it underground or hide it somewhere ? I cant put it overseas even if I am a national of another country because they can seize it. Please anyone with experience let me know. I did not get a high paying job for going to university and all my education. I only get an average income if that - and work full time and overtime but its not enough to save even a quarter of what I owe .I have already filed bankruptcy once for it on credit cards and loans last year and so want to avoid as many of the penalties as possible. Anyone with experience with all this please leave me your email etc. 10 points for best answer

Answer 1

You purchased more car than you could actually afford (in spite of being "university-educated", and used (abused) a friend by using THEIR name to buy ANOTHER car after filing bankruptcy?

You are going to ruin (and lose) this "friend", but it will be a valuable lesson for them.  You need to start spending less than you earn! It is that easy!

If you feel you don't earn enough, work hard and get promoted, or get another job!

You need to grow up before it's too late!

Answer 2

The ONLY way to avoid the car being reposessed is to be current on the loan. You can try to hide it, but the repo men will go to the ends of the Earth to get it back - so short of getting a shovel and physically burying it, (and then, what good will it do?) you've either gotta fork over the money ASAP or kiss the car goodbye. Even if you transfer the title to a friend, you're still on the hook for the money, and then they'll just go after the friend (who I suspect would not be your friend much longer if you put them in this situation) for the car.

My advice: try living within your means.

Answer 3

Is the collection agency out of state? If so that means they need to solicit a repo man in your state. Check your state provisions on collection agency licensing requirements.. A friend of mine got his car repossessed but filed a complaint against the agency because they weren't licensed in the state and therefore they cannot solicit business of any kind within his state. The repo company had no choice but to release the vehicle. This is what they don't want you to know. Also note - you can't put a vehicle in someone else name unless you own it outright or they refinance it.  

Answer 4

Do you have a loan on the car that you are behind on? If that is the case, I wouldn't advise trying to hide the car too hard, as many states have laws against that. This doesn't mean you have to make it easy for them, but you need to check your state laws to make sure you don't get yourself in trouble.

If the car is paid off, there are all kinds of methods to hide the asset and there are attorneys who specialize in this type of thing.