[miky]

Hi Revscene:

I have a quick question for anyone who have had experience with the leasing company possessing your vehicle.

So our SUV was possessed on Saturday morning on June 2nd, whilst we were leaving for my son's family doctor appointment.

The SUV is under my wife's name and she got a call from the towing company on Friday (Which I wasn't informed) They didn't mention that they were gonna tow the car but they told my wife to call Patty(The Bailiff) When she did it was past 4pm which their office already closed.

My wife then tells me that we have not been paying for the lease since February. She told me that she has always put money into the bank for the lease but then it was returned somehow. (Lets not get into our relationship)

After talking with the Bailiff(On Monday Today) She told me that they have the SUV at Adesa Auction Leaving me with 2 choices.

1. Pay off everything plus the Bailiff fees, Towing fees, Lot fees, leasing company so on etc. Then we could have our SUV back.

2. Wait 30 days and not pay Anything. After the car is SOLD(Auctioned), the money goes back to the leasing company which they will work out an amount with the bank for us to pay. (With all the fees mentioned in point 1 plus the lot fees)


Does anyone have experience with this scenario? Many of you may say "Just pay the bill and get your car back." We could but this lease is a very heavy lease for us. Life happened and we could afford it 2 years ago but not anymore. (Plus the baby boy)

The Bailiff also mentioned that IF, we're not considering paying anything back. This will leave a blip on my wife's credit.

Can anyone help me out with this situation?
Could you offer a settlement and end the lease early?
Which choice do I make in order to pay the lesser amount?

Thanks for reading and we're desperate for some advice.

Miky