12-22-2008
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Really Late on Auto Loan, What can my friend do?
Really late on loan, he was in the hospital for over 6 months ect. In a motorcycle accident, lost job and moved out of state.Now hes settled again and put back together.He have already negotiated all other debt. He hasn't called his auto finance company yet. I was wondering if they would reset his loan or if he could offer a lower pay off. He owe about 19k would they settle for like 6k or something. Any ideas? Please no negativity just helpful solutions.
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01-26-2009
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Where is the car? They will only settle for a lower amount on the loan if they have repo'd the vehicle. They will NOT let him keep the car and pay less than half of what he owes.
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