in debt with a car loan
Date: Fri, 01/18/2008 - 18:45
You had no insurance to cover the car loss? Did the other guy?
You had no insurance to cover the car loss?
Did the other guy? Was it a one car collision?
Either way, if you have to sacrifice anywhere, take care of your
Either way, if you have to sacrifice anywhere, take care of your secured debt first, then your unsecured debt (Credit Cards etc).
You could also sign up here https://www.debtconsolidationcare.com/free-consultation
and a Credit Counselor might be able to help you.
You can sell the car and borrow the difference, if you can get a
You can sell the car and borrow the difference, if you can get a extra 1000 and buy a cheap car. I personally pay cash for my cars, I save 500 a month in a car fund like its a payment, every two to three years I switch out my or my wifes car. I hsve the ability to bargain with cash from the dealer or the public. Sacrifice up front with a cheap car then move up every two years.
Problem is that the finance company who holds your car note is n
Problem is that the finance company who holds your car note is not likely to budge on the payment amount. If your cutback in hours is just a temporary situation, you might be able to get an extension (pay just the interest) on your loan for a couple months until you're back on track -- but then your full payments will kick back in afterwards.
If it's not a temporary problem and you don't see yourself being able to make the payments, it's best to do something now before your account starts bringing down your credit. Maybe consider trading the car in for a different one with lower payments.
