i purchased a truck.then my fiance died now i cannot afford high payments,and i have bad credit so my interst is high and no one will refinance it i found out that in the 18 months i been paying they have put all except 800.00towards interest.then i called to get a payoff it was not even any lower.Now i been told that this bank does this alot with home & vehicle loans is this right
Is there anything i can do .i was told to go file bankruptcy and let it go back any other suggestions.i am current on the payments.
First off, I’m so sorry to hear about your loss.
Considering that making the payment was apparently dependent on both your incomes, it is probably unreasonable to expect that you will be able to make the payment on your own.
Let’s start with the basics.
I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.
Then use the free How to Get Out of Debt Calculator to review your options.
Please post your responses and follow-up messages to me on this in the comments section below.