2007-11-05 10:35:26 · 8 answers · asked by bjr4613 1 in Business & Finance ➔ Personal Finance
Pay your payments or voluntarily give the car back. It's better to do that than to have someone come to take it. You'll owe the repo fee in addition to what you already owe.
2007-11-05 10:39:17 · answer #1 · answered by curtisports2 7 · 4⤊ 1⤋
Maybe a repo is the exact thing you need. Sometimes it takes hitting rock bottom for us to learn the hard lessons.
My wife and I had a car repoed while I was in college. It turned out to be a good thing. It took quite sometime for me to finish school and it wasn't long after college that I was able to negotiate a settlement on the old loan and get it off my credit.
If they repo the car, you will first need to find alternate transportation. They will probably come and get the car at night and you'll wake up to an empty parking spot. The last thing you need to do at this time is loose your job.
If you are broke, then I would suggest that you begin to learn how to budget better. You will need to find out how you might purchase a used car and pay cash. There's no need to file banktruptcy.
Get ready for the calls. Once the car is repoed and all the fees are added, the collection agencies will be at the door. But, go get a book by a guy named Benjamin Dover called "Back Off". I've listed his link below. If the collection agencies begin to call you can send them a "Cease and Decist Letter". Get the book and educate yourself as to the choices that you have.
At this point, knowledge is the best thing to obtain. Good Luck!
2007-11-05 18:50:28 · answer #2 · answered by sfuller94 3 · 0⤊ 0⤋
call the bank. When can you pay? How much?
if you're able to make a deal to keep the car -- you absolutely have to honor your end of it and make payments as agreed with the workout man. Only one missed payment to him and he signs the repo order.
seriously, we used to "set aside" one or two payments on car loans for hurting customers all the time. Small fee applied for each and, in essence, it put the missed payment(s) at the end of the loan. They didn't have to catch up.
:-)
2007-11-05 18:50:08 · answer #3 · answered by Spock (rhp) 7 · 0⤊ 0⤋
Sell it and get out of loan before bank repo's it..why get a bad credit score...At least make the sept. 15th payment....But sell sell sell
2007-11-05 19:07:23 · answer #4 · answered by overhereyoupretty 3 · 0⤊ 0⤋
If your broke, I suggest you either find a friend with a few extra bucks to loan you. Or, you need to sell the car and pay off the loan.
2007-11-05 18:38:34 · answer #5 · answered by Angie 6 · 0⤊ 1⤋
About the only thing you can do is have a good pair of shoes because YOU ARE GOING TO WALK A LOT
2007-11-05 18:42:45 · answer #6 · answered by Anonymous · 1⤊ 1⤋
Get a bike and give the car back, before it's criminal.
2007-11-05 18:38:27 · answer #7 · answered by Lady Real 3 · 1⤊ 1⤋
well u really cant do anything
2007-11-05 18:37:55 · answer #8 · answered by That guy that stands over there 3 · 1⤊ 1⤋