Settlement instead of a REPO
Date: Wed, 08/26/2009 - 23:02
I'm currently 8 months behind on payments for my vehicle. It has yet to be repossessed. It is a BMW M3 that I owe $25k. Do you think the bank would be willing to settle instead of going through a repo? Or should I re-finance? I was out of a job for 6 months and living paycheck to paycheck. I'm now back on my feet and this is my only form of debt. Any advice would be great!
No they will not settle. You will have to either get caught up w
No they will not settle. You will have to either get caught up with your payments or they will eventually repo the car , sell it and then charge you with the deficiency balance.
