They called in my Car Loan!

The person must have missed a payment or 5. I have 2 loans and have not heard diddly...

Tim

definite confirmation on this? Sorry, but somebody has to play devil's advocate lest we go off half-cocked.

I am glad I own my two vehicles and have my trusty bike and my two legs.

Healthnut4freedom

"Trust in the Lord with all thine heart; and lean not unto thine own understanding. In all thy ways acknowledge Him, and He shall direct thy paths." Proverbs 3:5,6

Ahh, the benefits of being broke and the (original) owner of a 20- and also an 11-year-old car...

stuff out of my car and carried it into my apartment; I still have quite a bit remaining (recent move) in the vehicle...and still owe about 2 1/2 yrs. of payments...thanks for this post...
This is creepy, indeed....

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Ron Paul Supporter Since 1997
“We have allowed our nation to be over taxed and over regulated and overrun by bureaucrats, the founders would be ashamed of us for what were putting up with” Ron Paul

like somebody is trying to get their hands on some cash in one quick hurry. Their Q2 results, published today, did indicate an 18% drop in Q2 earnings, but they still reported earnings of $950 Million :vs: $1.16 Billion a year ago. At least on the surface, that doesn't give the appearance of immediate concern, unless there's something else brewing underneath. They did report an increase in their loan-loss provisions at $596 million :vs: $191 Million during last year, so that's a bummer for sure.....mostly from "ongoing stress" in residential real estate and home building. They dropped $63 million in SIVs, but still claim that their credit costs are "manageable", whatever that word was intended to mean. I haven't seen anything else by anyone who has been following them closely, so it's difficult to say where they really are in terms of danger.

Generally as prevailing assets value go down, banks have to lower the value of their holdings. That process leads to a direct hit to their net worth, which will lead them to contract their balance sheets, either by withholding credit or selling assets. More sales in a weak market will naturally lead to further declines in the prices of financial instruments, leading to more write-downs and sales of inventory. That's just general asset management stuff and, as I mentioned, I really do not have anywhere near enough information to judge their situation one way or the other.

An economy built on fiat money is a society on its way to ashes.

I just applied to get a gun permit, things are happening faster. I don't feel ready for this. Maybe they plan on putting the money presses in hyper-drive. The Fed will run out of zeros, what comes after zillions?

If this is true it's freaking scurry

Congratulations!