Towing Issues: my car got towed but its going to get repossesed, tow yard, driving without insurance

Question
Hi I live in the state of Massachusetts and my vehicle got towed because I was driving without insurance but my real problem is that I was in the process of calling the bank to voluntarily repossess the car. Will the bank pick up the car at the towing garage and will they pay for the towing costs or can they refuse to pick it up there. I have no money to pay for the towing cost what do you suggest i do?

Answer
Well lets see,  first of all the towing company WILL be paid for the towing and storage of the vehicle. Be it by you, or the bank...

Second, the bank will charge it back to your account as an expense... They do that a lot,  plus you will have charges for the tow from the tow yard to the banks office or storage yard. Then they will have fees related to selling the vehicle (usually wholesale at auction) and the balance owed on the vehicle payments, plus all fees will be added together..

Then you start getting calls and letters from the bank and the credit bureaus..  

Bottom line is you are going to be responsible for the fees.