I’m behind $2,600 in car payment need to catch up but the money is just not there. Paying off a lot of other bills right now but need a car to get back and forth to work. If i could just get the money to catch up i could keep up the payment now since my husband is back. I’m afraid to make payment currently cause I’m afraid they will take the car anyway and i won’t have money to get another please help what should i do.
How do i get the money i need to get current on the car with bad credit
A logical and easy place to get the money to get the car payments back on track would be to stop making any payments to your unsecured creditors like credit cards, doctors, etc. Your car debt is a priority debt because without your car you can’t get to work to get a check.
Yes, it will trash your credit and put you in collections but your credit is already shot and you’d be better in collections than without a car.
One thing you said was that your husband was now back. I was not sure where he went to, if he is or was serving in the armed forces and was away on deployment then you may be eligible for relief under certain laws which are supposed to protect soldiers and their families when they are away.
Figure out how much money you can afford to pay the auto lender if you withhold your other payments and see if the auto lender will take that amount each month to bring the loan current. Outside of that you may want to talk to a bankruptcy attorney about a Chapter 13 bankruptcy so you can get your debt under control though a payment plan. Click here for bankruptcy information.
If you don’t take some action, they will take the car away. But without discussing your situation with a bankruptcy attorney or getting an agreement for the car lender to take monthly payments from you it would be a mistake just to send a payment. Sending in a payment does not stop a repossession when the payment is not sufficient to bring the loan current, unless you come to an agreement first with the lender.