The only chance you have is to offer them a settlement. Offer to send them a lump sum check for 75% of the balance. If you don t have a lump sum, you will have to make payments, in which case you will not get the amount lowered. If you do not start making payments, they will send it to their attorney and file a legal suit against you. You will then have the additional attorney fees, court costs and % tacked onto your debt.
A debt settlement company would have no upfront fees. The biggest question is , quot;do you have the money to take advantage of the settlement after it is negotiated?quot; If the answer is yes and you are interested in paying less than 1/2 of what is owed, check out the free evaluation form at the source website. Good luck.
Auto finance is what I do for a living and that is exactly what happens. The lender sells the vehicle at auction and comes after you for the difference plus all fees for the repossession, towing, storage, auction, legal plus interest. If you still do not pay they will take you to court and get a judgment at that point they can attach your bank accounts garnish your wages (if your State allows it) and file liens on any other property you may own like vehicles, boats, land and homes. As far as getting the debt lowered, forget about it, they have you over a legal barrel. You defaulted on the loan and they have every legal right to collect every penny you owe. I am not trying to be mean here, but I ve been in auto finance for over 7-years and believe me this is the way it is.
This site helped me repair my credit myself. creditboards.com
0 comments:
Post a Comment