Saturday, October 31, 2009

How do I pay my car loan payment?

I am so worried. HELP! I've been out on disability for the past month and I haven't received my check. The place I have my car loan through is threatening to take it away.The guy just told me to call the red cross for help - that was embarrassing. They said they don't do that. I have no one to borrow from, and I have $8 in my account. Any ideas? Have any of you been here before?



How do I pay my car loan payment?

If you have a good pay history? Ask them if they will move your payment to the end of your loan. Some lender will do this once a year for good customers.



If not, they normally can not start repossession proceedings until you hove missed 3-payments.



Call and talk to them, the last thing they want to do is take your car, they just want their money.



How do I pay my car loan payment?

Sell the car!



How do I pay my car loan payment?

The best scenario is to actually work with your creditor and discuss your situation. While you still owe them money, they may be able to allow you to pay again a month later. You have to be honest and up front, however, otherwise they will assume your irresponsible.



You should do this soon, you don't want it to harm your credit rating.



How do I pay my car loan payment?

roybob00 is correct. Most creditors are will to deal with you because they want you to make your payments. If you have been putting them off for too long they may be frustrated with you and unwilling to deal.



If they are unwilling to deal you maybe able to refinance the loan through a local credit union or your bank to lower the payments and get on a more flexible payment schedule.



If you are unable to do any of the above you might just consider selling the car for the time being and buying another when you have a more solid financial footing.



How do I pay my car loan payment?

Are you a church member if so go for help there. You have no relitives, Brothers or sister or long lost cousins? You could go back to the place that you owe the money to and beg them for some more time. However many times these type lenders hear all these stories and they either want the money or the car. You could try a quick sale of the car then if you can get over what you owe you could come out ok.



How do I pay my car loan payment?

Have you checked your loan papers to see if you signed up for disability insurance?

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