Find the best financial services for you at: SMARTFINANCESOLUTIONS.NET - Help with voluntary repossesion on truck? - My husband bought a truck back in 2007 and some time in 2008 he did a voluntary repo since he could no longer afford the payments. He hadn't heard nothing from the bank for 3 years. Last month they sent him a letter asking him to respond to avoid legal action so they could reach a reasonable payment arrangement. My husband was laid off in 2009 for a while and was on unemployment before he got a new job and now he is on the verge of getting laid off again. He can't afford to pay off the balance so what should he do? Will they freeze our bank accounts and take the car we currently own or do they have to take him to court first? We have 2 kids and I think providing a roof over their heads and food in their tummies is much more important. Should he respond to the letter and try to arrange a payment plan or just ignore it? I don't know what he should do but I do know we can't afford to pay this debt off. Should he just file bankruptcy? Please help! -
