Can someone PLEASE answer my question?

Question

Can credit counsling lower my auto payments?I really have a nice car that i want to keep but the payments are to much does counsling lower this too

Answer 1

No credit counseling does not lower your car payments. Is what they will do is give you credit counseling, a review of your budget by getting information from about all your credit like credits cards mortgages an car payments etc. Then they try to help you improve your personal financial situation After they do this analysis. Basically offer you their ideas after researching you financial situation to how you yourself can talk to your creditors about lowering your payments. They also can offer to stop harrrassing phone calls from creditors. Hope this helps. Good luck.

Answer 2

Credit counseling agencies cannot reduce payments on secured loans (house or car payments).
Maybe you can get a loan to refinance the car.
I was told the bank can look at the Kelly Blue Book value and refinance according to this estimate.
It's worth a try.

Answer 3

I don't think the counseling will help you lower your payments; they mainly teach you how to budget your finances. You could call your loan company that carries your car note. Explain to them your situation and see if they can offer a solution; or check into getting your car refinanced. If you have it financed through a bank now; check with a local credit union ~ they offer cheaper interest rates. Good Luck.

Answer 4

The first answer is a good one but i must say this. This is what you get for getting a really nice car which as it turned out you cannot really afford. Life would have much easier for you now if you only used your head during the selection process.

Ouch!!!!!

Answer 5

Credit counselling helps you manage your debt. There is no way it can guarantee to reduce your debt.

Answer 6

No they do not. My best advice is to contact the one you got the car from. they usually will work with you if you're sincere.