this post was submitted on 15 Feb 2024
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Too much US-specific legalese in this one for me to even properly parse. Without the title, I wouldn't even have guessed that this would be a sovereign citizen style post. I have no clue what a UCC-1, an AAA, NFCU, or a 1099 form is. I also have no clue how her car being repossessed leads to something being discharged as bad debt on her end. Thorougly lost here.
ucc-1 is apparently an "I am entitled to part of some property", I assume when it goes up for sale to settle debts, you're basically saying they owe you something.
AAA I'm guessing is their insurance company, NFCU could be Navy Federal Credit Union (basically probably their bank that held the loan for the car)
The 1099 is a tax for, but there's usually an extra set of letters after. For example, a 1099-MISC is how you'd declare side income like royalties or prize money. Im assuming this person files some kind of 1099 to show losses.
The interesting part to me is that (afaik) you're allowed to go to the auction and bid on your own car. And technically, if your car sold for more than you owe + repo fees, they have to give that money back to you (incredibly rare).
So all you have to do is go to your own auction and bid the car well above its value. Once you owe yourself more than you owe the car company, you can file a title 27i to legally remove 50% of your name and transfer that value from the worth of your name contract to settle all remaining debt.
Then you can walk away with the car, and usually, your legal name gets cooler anyway. I used to be JEFFERY POUTINE but now I'm just JEF POUT. It even fits on a standard 7 digit international non-commercial traveling placard!