Wednesday, May 26, 2010

Over my head on a car loan need options?

I tried to get loan co. to let me trade down and pay off rest of loan it I turn it in may end up owing $10,000 if that happens how do we reach agreement on payments



Over my head on a car loan need options?

Pay your debt. You got yourself into the mess, get yourself out of it by paying what you owe.



Over my head on a car loan need options?

Hi,



You can choose a refinancing option with easier repayment pattern. The webguide http://www.autoloanguide.info has some useful tips on this matter. Check it out. Good luck!



Over my head on a car loan need options?

Your information is too incomplete to get a good answer. Sell the car, use the money to pay off the loan. If the car will not bring enough to cover the entire loan, you remain liable for the balance. Talk to the lender and make arrangements to pay of the remaining balance over a period of time based on your income. Another alternative to file for bankruptcy. The bankruptcy court will arrange your affairs so that creditors are satisfied to the extent possible, some debts are discharged, and the remainder has to be paid out of your future earnings.



Over my head on a car loan need options?

Certainly you can refinance, but they are going to refinance your ORIGINAL loan amount, and not what you currently owe, plus new finance charges. It may be somewhat cheaper, however. But you are still going to owe for the whole loan amount.



Over my head on a car loan need options?

Well, the good news is if you turn in the car in they will have to deduct the amount of they sell it for from your debt.



Now the bad news...they can sell it by whatever means they choose (meaning pennies on the dollar). And the even worse news...it will effect your credit just as much as a if they repossessed it themselves.



You might want to rethink your approach to this.



Over my head on a car loan need options?

You should refinance out of that loan using funds from Prosper. You can find a low-interest loan with reasonable payments and save on interest as well. Because Prosper loan is unsecured, you can pay off the car note and do whatever you like with it - trade, sell or keep.

No comments:

Post a Comment

 

High Risk Credit+ Cosigner Copyright 2008 All Rights Reserved Baby Blog Designed by Ipiet | Web Hosting