Im just having a hard time due to only getting half of my normal income. Can I pay half of my payment and still keep my car? The second late payment just came due on the 14th. I can catch up in January but will they apply the 400.00 to the late fees or should I just call and explain why I am sending the $400.00. Thank u!
2006-12-18 11:33:51 · 8 answers · asked by lovelife 1 in Business & Finance ➔ Credit
Contact the company holding your car loan and explain the circumstances. If you just pay half without explaining what's happening, they probably won't be too forgiving. However, if you talk to someone in the accounting department, chances are good they'll work out a deal with you. They'd much rather get some of the money than none.
2006-12-18 11:38:04 · answer #1 · answered by sonofstar 5 · 2⤊ 0⤋
Call the credit holder. Explain. Often they will excuse one month's payment and add it to the end of the payment cycle. They don't want you to default so they are open to working with you. At the same time pay what you can as good faith, if that's not a problem.
2006-12-18 13:00:24 · answer #2 · answered by The Scorpion 6 · 1⤊ 0⤋
Sounds like you need Aflac!
Seriously though, call and talk with who ever these payments need to go to. If they are a respectable dealership, they will understand and take a $400 payment. Granted, you will have to eventually pay the rest of the $800 and your late fees though.
2006-12-18 11:56:19 · answer #3 · answered by Shel K 3 · 1⤊ 0⤋
If you just send half payments, you are technically in default on your loan. If you explain your situation, most lenders will work with you until you can recover. If you don't talk to them, all they know is that you are in default.
2006-12-18 14:16:48 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
I would check to see if you have disability insurance on the loan. If so, your payments will be made for you for a period of time
2006-12-18 11:42:40 · answer #5 · answered by Jeep Driver 5 · 0⤊ 0⤋
Call them and talk to them. If you can't work something out you might try to get a loan to get you back on track. Try the link below.
2006-12-18 12:35:22 · answer #6 · answered by RichDaddy 2 · 0⤊ 0⤋
First all the best for you!
Less income - 'less' car!
sell your car and get a smaller one.
2006-12-18 23:53:25 · answer #7 · answered by Vampir V 3 · 0⤊ 0⤋
Please, just talk to them before it is too late, you will be surprised, some will go along with you, if you just talk to them.
2006-12-18 11:38:18 · answer #8 · answered by cookie 4 · 1⤊ 0⤋