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Posted in Auto Loans
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Question By
malibuya

1 Contribution
0 People Helped
Does a voluntary surrender have a lesser affect to my credit score than an involuntary repossession?
I had to quit my job 18 mos ago for health reasons and had to file for Social security disability. I have used all my assets and still probably have another 6 mos st least to go before the court hearing. I had not missed a single payment until March 2016, but just simply cannot afford the payment plus insurance. My family us helping with expenses and since i hardly ever go anywhere, it made sense to let it go so i am able to continue making my mortgage payments

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did you contact the lender and explain your financial hardship and ask if there is anything that they can do to help you? Could you sell the car for enough money to pay off the loan if the lender could grant you a little bit of time?

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