iWonderWhat
Junior Member
California:
The failing economy has caused drastic changes in my income by which I took a %20 cut in salary, and then latter converted to hourly with less than a 40 work week… Now I am having trouble making a $400/mo. used car payment. I am about %50 along on a 72mo. loan and I would like to negotiate some sort of “extended loan with lower payments” as not to default. It seems to me that would be in their best interest whereas they will not recover any balance from a repo. And possibly force me into a bankruptcy where everyone losses. Are there options may I have, or how could I proceed with this? Thank you in advance.
The failing economy has caused drastic changes in my income by which I took a %20 cut in salary, and then latter converted to hourly with less than a 40 work week… Now I am having trouble making a $400/mo. used car payment. I am about %50 along on a 72mo. loan and I would like to negotiate some sort of “extended loan with lower payments” as not to default. It seems to me that would be in their best interest whereas they will not recover any balance from a repo. And possibly force me into a bankruptcy where everyone losses. Are there options may I have, or how could I proceed with this? Thank you in advance.