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owner operator in desperate need of help

Discussion in 'Ask An Owner Operator' started by Silver Knight, Jan 20, 2014.

Page 1 of 11
  1. Jan 20, 2014 #1
    Silver Knight

    Silver Knight Bobtail Member

    38
    10
    Oct 11, 2013
    lima, ohio
    0
    so I have a truck rear end went out. 5500 to get it out of shop. Bank wont work with me still have bank note on the truck and have no one to help loan me the money. if I loose truck I will prolly loose everything and I cant fail I have a wife and daughter that depend on me. Any suggestions or place to get finance for the repair. and my credit score is in the 500 range. and I have no collateral. ive been fighting a few years now and this might be the one that breaks me. please help
     
    Silver Knight, Jan 20, 2014
    Silver Knight, Jan 20, 2014
    #1
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  3. Jan 20, 2014 #2
    driver7702003

    driver7702003 Medium Load Member

    300
    51
    Nov 12, 2011
    FLORIDA
    0
    You may be able to talk to the comp you are leased on with
     
    driver7702003, Jan 20, 2014
    driver7702003, Jan 20, 2014
    #2
  4. Jan 20, 2014 #3
    Silver Knight

    Silver Knight Bobtail Member

    38
    10
    Oct 11, 2013
    lima, ohio
    0
    I tried that and they cannot help me been screwed by to many owner ops in the past. I guess the last guy did them in for about 12grand and that was the last.
     
    Silver Knight, Jan 20, 2014
    Silver Knight, Jan 20, 2014
    #3
  5. Jan 20, 2014 #4
    Oscar the KW

    Oscar the KW Going Tarpless

    12,246
    28,115
    May 19, 2011
    0
    So the bank would rather take a chance on getting the truck back?

    How much is the truck worth and what do you owe on it?
     
    Oscar the KW, Jan 20, 2014
    Oscar the KW, Jan 20, 2014
    #4
  7. Jan 20, 2014 #5
    Flightline

    Flightline Road Train Member

    2,345
    1,165
    Oct 1, 2011
    Almost There
    0
    Check The the internet, there is loan compaines specific to repairs if you have equity in your truck.

    Othewise sorry to hear as, this has happen to many new O/O.
     
    Flightline, Jan 20, 2014
    Flightline, Jan 20, 2014
    #5
  8. Jan 20, 2014 #6
    Silver Knight

    Silver Knight Bobtail Member

    38
    10
    Oct 11, 2013
    lima, ohio
    0
    my bank values thetruck at about 42000 and my loan is for a lil over 25000 I owe around 22000 just bought it in October, and I said if I don't get the rearend fixed ill loose it and my pick up loan and car loan for not paying. his response was this is the vicious cycle but im sorry
     
    Silver Knight, Jan 20, 2014
    Silver Knight, Jan 20, 2014
    #6
  9. Jan 20, 2014 #7
    Silver Knight

    Silver Knight Bobtail Member

    38
    10
    Oct 11, 2013
    lima, ohio
    0
    I guess om screwed I really did go for broke
     
    Silver Knight, Jan 20, 2014
    Silver Knight, Jan 20, 2014
    #7
  10. Jan 20, 2014 #8
    MJ1657

    MJ1657 Road Train Member

    7,521
    50,151
    Jan 28, 2012
    Isanti, MN
    0
    Do you have equity in either of the other vehicles you have loans on? If you do I would dump one or both of them real fast even if you have to take a bit of a hit on them.

    Its better then losing your livelihood.
     
    MJ1657, Jan 20, 2014
    MJ1657, Jan 20, 2014
    #8
    rockyroad74 and BORNtoROAM Thank this.
  11. Jan 20, 2014 #9
    Oscar the KW

    Oscar the KW Going Tarpless

    12,246
    28,115
    May 19, 2011
    0
    I would be talking to other banks then, see if there are any that would take ALL the notes that you have at this current bank. Either there is something that you are not telling us or this bank that you are using is just unethical.
     
    Oscar the KW, Jan 20, 2014
    Oscar the KW, Jan 20, 2014
    #9
    RedForeman, MJ1657 and rank Thank this.
  12. Jan 20, 2014 #10
    Chinatown

    Chinatown Road Train Member

    74,663
    169,663
    Aug 28, 2011
    Henderson, NV & Orient
    0
    If you're a military veteran contact USAA Credit Union. They will probably come to the rescue.
     
    Chinatown, Jan 20, 2014
    Chinatown, Jan 20, 2014
    #10
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