I purchased a vehicle in 2008. At that time, I was employed and my earnings were appropriate to secure a loan. However, like a good portion of the population, I was laid off in May 2009. Unemployment in FL allows less than 1/3 of what I was earning. In june, I called my creditor and explained my situation. They offered to defer two payments. In August, I made a partial payment (about 2/3's) and in September the same. Since no one in my industry is hiring in my area, I took a temp job in October but it pays considerably less. I immediately called my creditor to advise them of this. I have explained that I understand they need their money and that I am committed to making sure they get it but I will have be making partial payments for a while but hope to be caught up by February or March. I am currently 30 days behind. They are threatening to take the car (without which I cannot work at all).

I believe that the collectors are simply doing their job, attempting to get a committment from me to bring the account current. Since I am making good faith efforts, can they reposses the car? Or perhaps a better question is, how likely is it that they want to reposses the veh?

They can come and take the car and they do it alot. If you are working with them, they may not since they will lose money on the repo even if they get a judgment against you for the difference in what you owe and what the car sells for. Have you browsed through the information in LawInfo's Free Legal Resource Center to learn more about your issue yet? See: http://www.lawinfo.com/consumer.html. You can certainly try to speak to a lawyer to determine what legal options may be available. In the meantime, you may be able to learn more on your own. Search the "Free Legal Resources" tab, or browse the Consumer Resources. Good luck.