Category Archives: Transportation

I Want to Buy a Motorcycle to Get Around But I Don’t Have the Money. – Loraine

“Dear Steve, Got about 10k in debt, and they’re all in collections, but I recently got a decent job. Now I’m starting from square one and i want to see if I can finally become debt free. But I don’t really know where to start. I have lost my mode of transportation and I really [...]

Single Mother With Tons of Bills, Upside Down on Car and Private Student Loans

“Dear Steve, Car payments are to much and i have to much negative equity. Single mother with toms of bills including a high interest rated private student loan. Cant afford the payments on my car I tried to refinance and trade it in. Wasnt successful I have to much negative equity on the car. What [...]

My Car Was Repoed and Nationwide Credit Says I Owe a Huge Balance. – Kathryn

“Dear Steve, i have a car loan under my name and sister. i was unable to pay it any longer so it was repoed. my sister has no job so her car was repoed also.. i am now getting letters from nationwide credit inc stating i have to pay them 7349.00 but can make a [...]

My Son-In-Law Bought a Truck He Can’t Afford. How Does He Get Out? – Doug

“Dear Steve, My son-in-law bought a used truck he could not afford and payments are $700/mo. The dealer had him lie about my daughters emploment situation as she is not working and she signed the loan papers. The truck was over valued and the dealer has offered to buy it back for aprox. $20000 less [...]

I Can’t Afford My BMW Lease. How Will That Hurt My Credit?

“Dear Steve, I have a very good score credit and I have been very punctual and responsible with all my bills for all these years, but since October 2011 I’m jobless, however I have been paying all my bills on time with my savings . I still have some cash to continue searching for a [...]

Motorcycle Financing Company Wants More for Late Payment Interest. – Bill

“Dear Steve, I have had a loan through the manufactuer of my motorcycle, the question is it is now the end of the loan term and they told me that I still owe $2000 because of late payments over the term of the loan. I took advantage of there loan modification 3 times in 7 [...]

Made horrible mistake getting car loan for boyfriend. Please help get this car out of my name! – Jocelyn

I really made a big mistake with a car loan for someone else. I bought a house by myself earlier this year which is going fine. I have a 157K mortgage loan. My long-time boyfriend was unemployed and his credit isn’t that good and of course, he needed a car, perfect timing. We initially went [...]

Should I trade in my vehicle or keep it and add extended warranty? – Janice

Hi, I am currently financing a 2004 BMW X3 and will be out of warranty in February 2012. I still owe $11,300 with interest rate of 12.95% and monthly payments of $360. I’ve tried to refinance with my credit union and I was told the vehicle is too old. I even begged the lender (Chase [...]

Desperate in Dubai Over Car Loan With Friend From Philippines

My friend ask me to help him loan a car from our company. we are getting some discount if we purchase car from our company. I helped my friend because he is a good person and trusted as well. He is from India and I am from Philippines. in 2008, we took a car and [...]

My Late Husband Sold His Car But They Are Trying to Collect Money From Me. – Donna

“Dear Steve, My late husnand sold his car because he had cancer and could no longer drive and since then it has had a traffic offence, I had a call to say they were coming today to remove my house hold goods as i’m the wife its down to me to pay off the debt. [...]

What Happens to My Credit if I Make a Partial Car Payment? – Nicole

“Dear Steve, Just a curious consumer. I have paid partial payments on a car loan and I wondered what will reflect on my credit report. If I paid a partial payment on my loan can the loan company still report me as late on my credit report?also I was wondering if hypathetically I was say [...]

I’m Getting Calls From Two Lenders On My One Car Loan. – Nicole

“Dear Steve, Im a single mom who recently relocated from florida to Georgia after loosing my job.i moved hete to help lower the cost of living expence..i am on florida unemployment. A year prior to loosing my job I purchased a car from a small lot..i recieved financing at a rediculose intrest rate..3 months later [...]

What Are the Ramifications About Refinancing My Car Loan? – Jessica

“Dear Steve, I have a really high car payment and no income. The car absolutely cannot go back. I had to trade in two vehicles because I signed (not cosigned) for my mother in law to get a Smart car, and she died. My father in law did not want to keep making payments and [...]

I Need to Rebuild My Credit After Bankruptcy. – Dennis

“Dear Steve, I own a Honda Fit with around $58,000 miles on it and I have the title. I also just finished a Chapter 7 bankruptcy and so my credit is shot. I wanted to borrow against my title about $7,000 and make payments over 3 to 4 years in order to get back on [...]

My Job at the Hospital Didn’t Take Taxes Out of My Check. – William

“Dear Steve, My name William. I’m only 25 and have a bus load of debt!! I currently work at [xxxx] Hospital in Washington D.C. I make a realitively small amount of money ($11.75 per hour). I live with my younger brother who I have taken care of since our parents passed away approximately 6 1/2 [...]