Question: Dear Steve, My daughter has a car that is worth about $1,500 and a local finance company loaned her more than it is worth, and now the loan payoff is over $9,000. The car is about to fall apart and needs repairs in excess of $3,000 to keep running. Should she let the company …
Question: Dear Steve, Did they repossess my car? Why would they repossess my car? Linda Answer: Dear Linda, If your car is not where you left it then it was either repossessed or stolen. Call the police if you think someone stole it. As far as why someone would repossess your car, I’m going to …
Question: Dear Steve, I was late on payments made one for $600 they repo my car I called they called me back said if I paid 1100 I could get my car back that was Saturday couldn’t make it up there when I called Monday they said they couldn’t do that it had to be …
The Federal Reserve Bank of New York has released data that creates opportunity for lenders but seems to tee up consumers with problem credit for failure. Auto loans have been moving briskly with subprime loans of people with credit scores less than 620 being granted more often. Lenders are willing to take on the risk …
Question: Dear Steve, Over 9 years ago my son let his car be repossessed when he went to teach overseas he has returned is teaching and has a new family with a newborn. He was contacted by collector they threatened to take his home and said the IRS will place lean on him and wage …
Question: Dear Steve, I have a car loan with CapitalOne Auto Finance and my car was repossessed , I have the car back. I had spoke to them before the repossession and they said pay what you can and I paid $50.00 this left me 2 and a half payments behind . Steve, my car …
Question: Dear Steve, I took a 6 year car loan out on a car with a trade in that added debt to the loan- lost my job and can’t afford the $1000 to mange car payments etc Considering a voluntary turnover of the car to the finance company. I had a small amount of money …
Question: Dear Steve, I had to purchase another car in 2014 since the car I owned had expired due to maintenance issues. I lost my job unexpectantly after 9 years in February 2015. I immediately called the Finance Company which held the loan on my car. I let them know I could not pay the …
Commission Also Approves Final Consent Orders in Two Deceptive Auto Dealership Cases Regency Financial Services, Inc., and its CEO Ivan Levy have agreed to a permanent ban on telemarketing and the advertising, marketing, or sale of any debt relief products or services to settle FTC charges that they falsely promised consumers auto loan modifications and …
If you’re like many of us, you need your car to get to work or school, carpool kids or grandkids, or to do your shopping. But what happens if you are getting calls from debt collectors who you can’t pay? Can a debt collector take your car? Our reader, Marbella, who lives in California, says a collection …