OpEdNews - Diary: Bank persecution in full swing.

This is a report of my persecution by two auto lenders in my current bankruptcy case, which was precipitated by a surgery, the loss of a job, and 2009 out-of-pocket medical expenses of $8,900.00 - WITH a good insurance policy.

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In the summer of 2007, I traded two cars, one for me and one for my mom, whose auto had been destroyed in an accident, and downsized into less expensive, more economical vehicles for the both of us. Of course, at that time, credit was still flowing freely, prices were inflated, and loans were easy to get. Now that surgery and disability have cost me my job, I had to file bankruptcy. I am willing and able to continue to pay monthly payments if the bank will reduce the principle to the current fair market value of the cars, which is all they are going to get if they repossess them and try to sell them again, which will be tough in this market where no one has money or credit. Both lenders are refusing this course, and are demanding that I reaffirm the loans under the original agreements, with the inflated principle amounts on both cars, or pay the highest Blue Book price in cash. I do not have the cash, and I can no longer afford high payments that were based on my high income when I was working. This means that the lenders are simply and specifically persecuting me and many others I am sure. If they already have a captive purchaser, who is willing to pay the current fair market value, why would they refuse this and repossess the cars? They will not be able to secure any higher amount than what I have proposed, and they are taking the risk that the cars might not sell at all. This is pure and simple persecution, and I promise I will never ever take another loan as long as I shall live on this planet. I am thinking of fillling the car with urine and feces prior to returning it, what do you think?