need help (financial issues and car repossessed)

[john1gil]

hi po, good morning! may gusto lang po ako na ishare. Yesterday narepossed and nasheriff ng Toyota Financial ang car ko po, sabi po ng guy i have to go to Toyota financial to settle or magrequest kami ng compromise agreement, To be honest with you broke kami sa pera now. And after seeing the document grabe ang laki ng babayaran namin Attorney's Fee, legal damages, liquidated damages bukod pa yung interest and the monthly amortization ng car. Bale nagsimula ang kalbaryo namin last Oct. 2011 to January 2012 di kami nakabayad, broke kami niyan wala kaming pera, nangutang muna kami sa relatives namin and nagpunta na kami sa Toyota Financial nasurprised kami sa babayaran around 60k lahat included yung legal fee and interest and total money namin around 50K lang. Nakiusap kami na di namin kayang bayaran lahat ang maiibayad namin around 40K lang, ayaw nilang tangapin we have to pay daw the whole amount, nagsabi ako sa guy na magwithdraw lang ako downstairs and after that tumawag ang wife ko and tell her na di talagang bayaran lahat and we decided na magbayad thru bank na lang (Bank Account ng Toyota Financial na binigay sa min before) nagbayad muna kami ng 2 months and yung interest na binigay sa min. Then nagbayad ulit ako ng 1 month last Feb. 2012 and March 2012 (both thru bank ulet) and then somebody called na may case na daw ang car at kailangan na namin magbayad. and yun na nga hangang masheriff na. Bale 1 year na lang namin babayaran ang car at nakapanghihinayang na bitawan ang car dugo at pawis ang puhunan namin para mabayaran ang car on that 4 years. This morning pupunta kami ng Toyota para makiusap at gumawa ng request to waive the Legal fees, damages etc. Ask ko lang po kung puwede kaming magrequest ng recontructing ng bayad maextend ng 1year para lumiit ang babayaran namin? Ano pong dapat gawin namin? Goodluck to us at Maraming salamat sa magreply!

God Bless Tsikot.com!

[glenn manikis]

the only way sir is to talk to toyota financial... or seek legal advice... kung tinangap nila payments nyo baka pwedeng lusot kayo... ano po bang case ang naka file? EXtra judicial foreclosure ba? or Replvin? at sAan HUsgado? at sino po yung sheriff?

[john1gil]

the only way sir is to talk to toyota financial... or seek legal advice... kung tinangap nila payments nyo baka pwedeng lusot kayo... ano po bang case ang naka file? EXtra judicial foreclosure ba? or Replvin? at sAan HUsgado? at sino po yung sheriff?

thanks sa reply Writ of Replevin. Pasay. Sheriff Reynaldo Odtuhan. kakalungkot grabe ang paghihirap namin para mahulugan lang.

[glenn manikis]

thanks sa reply Writ of Replevin. Pasay. Sheriff Reynaldo Odtuhan. kakalungkot grabe ang paghihirap namin para mahulugan lang.

sir the best thing to do is kausapin nyo po yung toyota financial.... makipag compromise kayo.... kung may binabangit sila regarding sa legal fees etc... hindi naman po ganun kalaki dapat yun... pwede nyo tawaran... pa itemized nyo po yung mga legal fees nila... usually naman may in house lawyer yan mga yan... at isa pa de kahon naman ang petition for replevin... in means kahit nga clerk lang kayang gawin yan... pinipirmahan nalang ng lawyer yan... then pagdating naman sa sheriff fees ask for a BILL OF PARTICULAR'S from the sheriff, pero pwedeng walang bILL OF particular's ang sheriff... kasi wala po sa rules na ang replevin dapat may bill of particulars... ang nasa rules lang ang meron bill of particular's lang eh ang execution.... the best thing to do sir is ask for legal advice from PAO para libre..

pwede din pong gawin nyo mag file ng counter bond... usually po ang counter bond is double the amount sa bond nila... in your case baka po pwedeng hindi double the amount...case to case basis po (ang bond na binabangit ko eh surety lang certain percentage lang ang babayaran nyo) .... then kayo naman ang mag sheriff ng sasakyan nyo na nasa kanila... tapos pwede nyo nang ibenta yung car nyo assume bal... para at least may nabawi kayo kahit kunti.... PERO the best pa din po seek legal advice.... LEGAL ADVICE po ha.... wag illegal advice....

[john1gil]

sir the best thing to do is kausapin nyo po yung toyota financial.... makipag compromise kayo.... kung may binabangit sila regarding sa legal fees etc... hindi naman po ganun kalaki dapat yun... pwede nyo tawaran... pa itemized nyo po yung mga legal fees nila... usually naman may in house lawyer yan mga yan... at isa pa de kahon naman ang petition for replevin... in means kahit nga clerk lang kayang gawin yan... pinipirmahan nalang ng lawyer yan... then pagdating naman sa sheriff fees ask for a BILL OF PARTICULAR'S from the sheriff, pero pwedeng walang bILL OF particular's ang sheriff... kasi wala po sa rules na ang replevin dapat may bill of particulars... ang nasa rules lang ang meron bill of particular's lang eh ang execution.... the best thing to do sir is ask for legal advice from PAO para libre..

pwede din pong gawin nyo mag file ng counter bond... usually po ang counter bond is double the amount sa bond nila... in your case baka po pwedeng hindi double the amount...case to case basis po (ang bond na binabangit ko eh surety lang certain percentage lang ang babayaran nyo) .... then kayo naman ang mag sheriff ng sasakyan nyo na nasa kanila... tapos pwede nyo nang ibenta yung car nyo assume bal... para at least may nabawi kayo kahit kunti.... PERO the best pa din po seek legal advice.... LEGAL ADVICE po ha.... wag illegal advice....

eto Glenn kararating lang from TFS gumawa na lang kami ng letter to compromise and to update our account ang request namin to wave the other fees and magbayad na lang kami ng legal fee na 15k yung utang namin interest and the monthly amortization of 3months (naging 3 kasi April 7 ang due date namin) and sana maaprove pero kung di sila pumayag ano po kaya ang dapat gawin namin?? maraming salamat po ulet!

[vinj]

It's a hard position but best to first review your contract with Toyota Financial, and check with a lawyer if you have any, on your case. If you're coordinating only with the staff at their office, better if you can elevate your request to senior management of the company. Staff and low-level authorities will only work by the book, an officer or senior manager may be able to present more options.

The hard part there is that napasok na sa Sheriff yung case mo so may running cost na yan with Toyota Financial. It would have been better if you spoke with them immediately, at the onset of your financial problem.

[john1gil]

It's a hard position but best to first review your contract with Toyota Financial, and check with a lawyer if you have any, on your case. If you're coordinating only with the staff at their office, better if you can elevate your request to senior management of the company. Staff and low-level authorities will only work by the book, an officer or senior manager may be able to present more options.

The hard part there is that napasok na sa Sheriff yung case mo so may running cost na yan with Toyota Financial. It would have been better if you spoke with them immediately, at the onset of your financial problem.

thanks Vinj i really appreciated ur reply bale yung letter naka address sa head ng credit commitee ng TFS nagrequest nga ako kanina if i can talk to any senior manager etc. pero wala daw mga nakabakasyon na siguro. hays ang sakit sa ulo. Intayin ko yung result next week and sana iconsider nila.

[shadow]

Update mo next week itong thread, para malaman ng ibang magigingn katulad ng situation mo.

Btw, anong car pinaguusapan natin?

I can't pretend to know what you and your family is going thru right now, nakaktorture but good luck..

Wait just a question? You still need to pay for all the charges Kung Wala ka na Plano kunin kotse? Baka naman mas maganda just let it go? Cuz it's really too late na, sans binenta ko na before pa mangyari lahat Ito nun alam mo Hirap ka mabayaran...

If ever kunin mo unit baka Maipit ka nanaman sa cash flow...

[john1gil]

Update mo next week itong thread, para malaman ng ibang magigingn katulad ng situation mo.

Btw, anong car pinaguusapan natin?

I can't pretend to know what you and your family is going thru right now, nakaktorture but good luck..

Wait just a question? You still need to pay for all the charges Kung Wala ka na Plano kunin kotse? Baka naman mas maganda just let it go? Cuz it's really too late na, sans binenta ko na before pa mangyari lahat Ito nun alam mo Hirap ka mabayaran...

If ever kunin mo unit baka Maipit ka nanaman sa cash flow...

thanks for the reply.. Toyota vios 1.3 E 2008 1 year na lang ang kulang ko na bayaran ang hirap din kasi 4 years namin binayaran tapos mawawala na lang ,bale nagrequest na mawaive yung mga charges etc and compromise agreement yan kasi ang advice nung taga TFS na kasama ng sheriff ng kunin ang car at sabi niya ipapaaprove daw. Update ko kayo kung ano ang hatol next week.

[greenlyt]

mas maganda sana is to apply for a multi purpose loan sa bank on a longer term to cover the balance for your car loan, kaso baka naka black list na name nyo, and mahirap na magpa approve for a loan

[vinj]

Update mo next week itong thread, para malaman ng ibang magigingn katulad ng situation mo.

Btw, anong car pinaguusapan natin?

I can't pretend to know what you and your family is going thru right now, nakaktorture but good luck..

Wait just a question? You still need to pay for all the charges Kung Wala ka na Plano kunin kotse? Baka naman mas maganda just let it go? Cuz it's really too late na, sans binenta ko na before pa mangyari lahat Ito nun alam mo Hirap ka mabayaran...

If ever kunin mo unit baka Maipit ka nanaman sa cash flow...

Too bad as its already late as they could have tried selling the car before pumutok yung issue. You may not get the full value but at least it save you on headaches. My dad once helped someone that way before, his car was almost repoed so he bought it then fully settled with the bank; his friend then had enough money a few months later and paid back my dad to get the car again (he didnt transfer it and just had a deed of sale in case).

We all encounter difficulties at one point or another, and you shall also get through it; just don't solve one problem by creating another. You can cut losses and just let go or see if someone is still willing to buy the car from you in spite of the situation. Compute how much is owed to TFS to fully settle the loan, determine how much is the going value of your car, then just inform the potential buyer of the situation. He pays you at TFS and you turn over the balance to TFS then keep what's left. You sign the deed of sale and turn over all the documents to the buyer; just check with TFS on the procedure of doing such given that they already have possession of the car.

[john1gil]

mas maganda sana is to apply for a multi purpose loan sa bank on a longer term to cover the balance for your car loan, kaso baka naka black list na name nyo, and mahirap na magpa approve for a loan

thanks for your reply..mahirap talaga yung nangyari sa min. it's like the end of the world. sana makunsensiya sila and wag na nilang dagdagan ang mga Fees.

[stavros]

Sir pano po ang everyday living nyo? May mga nag-aaral pa ba?

[john1gil]

[QUOTE=stavros;1903710]Sir pano po ang everyday living nyo? May mga nag-aaral pa ba?[/QU

mahirap ang situation namin ngayon ng wife ko. wala po kaming anak pa. salamat sa reply stavros!

[shadow]

Sabi mo 1 year to paya, matagal pa ang 1 year...do you think you'll be able to pay the monthly amort for another year? If you can't you may just be prolonging the agony...

Maybe you can just let it go, as what Vinj said a little too late..ipunin mo na Lang yun ibabayad mo monthly for a year to buy a second hand car, kung Wala ka makukuha na tutulong saiyo...

Anong model yun and how much monthly ba? Sorry makulit ako but what happened, nawalan ba kayo both ng work? Meron ba nagkasakit at kailangsn unahin bayaran yun hospital?

I'm really sorry for your situation, it really pains me to see someone na na repossess ang possession nila or iniipit ng mga creditors...

[john1gil]

Sabi mo 1 year to paya, matagal pa ang 1 year...do you think you'll be able to pay the monthly amort for another year? If you can't you may just be prolonging the agony...

Maybe you can just let it go, as what Vinj said a little too late..ipunin mo na Lang yun ibabayad mo monthly for a year to buy a second hand car, kung Wala ka makukuha na tutulong saiyo...

Anong model yun and how much monthly ba? Sorry makulit ako but what happened, nawalan ba kayo both ng work? Meron ba nagkasakit at kailangsn unahin bayaran yun hospital?

I'm really sorry for your situation, it really pains me to see someone na na repossess ang possession nila or iniipit ng mga creditors...

2008 model ng Vios and 13K per month. isa lang ang nagwork samin.. salamat sa concern mo shadow talagang litong lito kami nawalan kami ng self- confidence.

[chrismarte]

tama nga siguro sir na kung hindi na talaga kaya at mag aacumulate lang ulit ng panibagong utang para lang mabayaran much better na let go na.... remember na mahirap ipang bayad sa utang yung galing din sa utang ang ipapambayad

[shadow]

2008 model ng Vios and 13K per month. isa lang ang nagwork samin.. salamat sa concern mo shadow talagang litong lito kami nawalan kami ng self- confidence.

but what happened? nawalan ka ng work? do you need the car for your work? kung hinde naman tiis tiis na lang ng commute at ipon bili ka na lang ng second hand na vios ulit. remember meron ka pang gastos sa pang gasolina ng vios kapag ginagamit mo...maintenance cost pa..insurance etc...huwag mo lang isipin yun monthly na hulog marami ka pa i factor in na gastos in maintaining that car...

[john1gil]

tama nga siguro sir na kung hindi na talaga kaya at mag aacumulate lang ulit ng panibagong utang para lang mabayaran much better na let go na.... remember na mahirap ipang bayad sa utang yung galing din sa utang ang ipapambayad

thanks a lot sa advice mo po masakit man isipin at ang hirap tanggapin na mawala ang pinaghirapan mo ng 4 years.

[john1gil]

but what happened? nawalan ka ng work? do you need the car for your work? kung hinde naman tiis tiis na lang ng commute at ipon bili ka na lang ng second hand na vios ulit. remember meron ka pang gastos sa pang gasolina ng vios kapag ginagamit mo...maintenance cost pa..insurance etc...huwag mo lang isipin yun monthly na hulog marami ka pa i factor in na gastos in maintaining that car...

nawalan po ako ng work. i understand po there are things to consider. ask ko lang pag ni let go namin wala na kaming babayaran na mga fees etc.. salamat po ulet!