Repossion of my work van
Date: Thu, 02/09/2006 - 11:39
I have recently been divorced and my van is up for repo I need some help saving it.
For some knowledge to those who look for consolidation on reposs
For some knowledge to those who look for consolidation on repossessed items -
Consolidation programs do not consolidate secured debts. But if a car gets repossessed and later sold out, if there is any balance that is left to be paid to the creditor after the sale, it can be included in the consolidation program. Because from that point it will take the shape of unsecured debts.
If you can sense the coming situation and know that you won't be able to pay the balance owed even after the sale of the car, it is better to sell off the car before the repossession. Situation will come under control rather than going up to the extreme point
