I’m a mother of 2 soon to be 3 and been unemployed since last year July. My husband works contract jobs and has been out of contract for 2 months.The car loan was in my name only and it’s the only debt I have. We don’t have another car and are currently stranded because our city barely has a bus service.
I lost my job a year ago and have not managed to get another one yet .My car just got repossessed this weekend for being 3 months behind on payment. I talked to the bank and they said I only have 10 days to pay off the loan which is about 15K or they auction it off. I know they usually auction off the cars for dirt cheap thus leaving me with a huge balance, no car and a WRECKED credit for several years. Is it possible to get new financing to buy back the car before it’s auctioned or what other options do I have now?
Unemployed Mother of 3. Just Had My Car Repossessed. What Are My Options? - Anne by Consumer
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