upside down on vehicle - really bad
Date: Wed, 08/19/2009 - 14:28
Hello,
I have a 2006 Dodge Durango that I owe 20,100 on it and it is only worth 7,800. Any ideas of how I can get out from under this vehicle. I have a 605 credit score and have tried to do a re-fi on it but I can't get the payments to be any lower that $475 a month. I am not behind on my payments but I need to do something about this problem. Any advice? Should I try to do a voluntary surrender of the vehicle?
I have a 2006 Dodge Durango that I owe 20,100 on it and it is only worth 7,800. Any ideas of how I can get out from under this vehicle. I have a 605 credit score and have tried to do a re-fi on it but I can't get the payments to be any lower that $475 a month. I am not behind on my payments but I need to do something about this problem. Any advice? Should I try to do a voluntary surrender of the vehicle?
If you do a voluntary surrender of the vehicle it wont get you y
If you do a voluntary surrender of the vehicle it wont get you you very far....you will end up tanking your credit report and will be hit with a huge deficiency balance.
I ust surrendered my Scion, and I have a $12000 deficiency balan
I ust surrendered my Scion, and I have a $12000 deficiency balance. They are wanting to collect, but I have a bk attorney on retainer, so that is where we are at. When they sold the car, they sent a statement for the balance due, no payments. If you can't afford the payments, then you probably cannot afford a $13 to $15 thousand dollar bill. Thbere is no easy way out of a situation like this.
