I was told I can call the bank and ask for loan forgiveness. How does this work and will it help me?

0 ⤊

I was told I can call the bank and ask for loan forgiveness. How does this work and will it help me?

I am upside down in my auto loan. I am hoping that this will help me out of my truck so I can get something better on gas and cheaper. I owe about $12,500 and the value I looked up said about $8500. I will probably get less because it has some problems and needs a little bit of fixing.

2007-07-18 12:40:42 · 2 answers · asked by chrstphrgannon 2 in Business & Finance ➔ Personal Finance

2 answers

Someone is giving you a line this will not happen, if it did would not everyone with a loan do it? Then the bank would be out of business, Sorry no such thing, urban legend I guess

2007-07-18 13:00:26 · answer #1 · answered by Pengy 7 · 0⤊ 0⤋

No, you bank isn't going to forgive the loan, or even a portion of it, just because you call.

2007-07-18 12:49:33 · answer #2 · answered by Oh Boy! 5 · 0⤊ 0⤋