 Is it neccessary for an adult to have a credit card? Isn't a debit card already enough? |
| Someone asked how to keep financial stability and many people agreed that she should get away from credit cards.... |
|
 Can you brake down $35,000 a year by hour (dollar amount)? |
| $35000 a year (salary) = Hourly wage (40 hours a week) How do you figure that out 35000 divided by 34 weeks in a year or something like that...I forgot how to figure this ... |
|
 I need cash asap! Please help!!!!!? |
| I had my wallet stolen and the next thing i know my credit cards are all maxed and the cops wont do crap and neither will the credit card companies...as of right now i am about 1,200 in debt, i have ... |
|
 Credit card debt? |
| i have a credit card with lloyds tsb and i have spent £2.300 what is my intrest rate if i have to pay £47 back a month,i need some advice to help me pay it off fast,like to switch it or ask them to ... |
|
 How do I know whats wrong with my credit? |
| I am 19 years old and I haev tried to get some credit facilities since I was 18. I decided to get a copy of my credit file because I have been refused credit. But the funny thing is, I got 3 credit ... |
|
 Credit Card question.? |
have a Sony Financial Services Card, (just like a MasterCard...)and I was wondering if I didn't buy anything on it for a couple of months, or years, would they charge me?
And, If you ... |
|
 Has ANYONE ever opened a bank account over the PHONE? |
| I've been wanting to try but I'm afraid that they'd reject me. Has anyone ever been turned down for a bank account and if so, why?... |
|
 Could I get a loan on a house for 11,000 down? |
| Ok if I had good credit the answer would be simple. Though I dont know my credit score exactly affraid to look lol, I know it cant be great I owe like 12,000 in doctor bills, 2,500 in past due rent, ... |
|
 Is it better to pay off a credit card in full each month or pay the minimum balance? |
| is it better to pay off a credit card in full each month or pay the minimum balance which 1 will help my credit the ... |
|
 I have terrible credit and can't even get a basic bank account but need one for when i get ajob?? |
Any suggestions is there a bank acocunt for people with adverse credit that doesnt cost anything or isn't too expensive?
Additional Details
I don't owe any money to the banks ... |
|
 What does this mean? |
Acredit card company sent me a card. The credit limit is 300.00. They charged me 178.00 for the card. So, now my limit is 122.00 What's that all about? That's crazy.
A... |
|
 What is the best way to pay off these two credit cards? |
| I have 29K in credit card debt, with 29.9% interest on both. If I get 15k cash given to me, would it be better to pay off one card or pay each one down half way? Please let me know, I'm ... |
|
|  |
babigirl116 | I have a car payment that I can not pay anymore. What happens to my credit if I turn it in? |
I am in a financial bind and I will not be able to make my car payments on top of everything else I have to pay. I would like to keep my car but have lower monthly payments. I think the best thing to do is to return the car and just buy an older car flat out. |
 |
 
SPIFIMAN1
|
Don't do it. A repossession without a bankruptcy is one of the worst things that can show on your credit. And do not let anyone tell you different it makes no difference weather you take the car back or they came and get it, a repo is a repo is a repo.
Your lender will take the car, sell it at auction for less then it's worth and then come after you for the balance plus all fees for towing, storage, reconditioning, interest auction, interest and lawyers.
This will amount to several thousand dollars and if you do not pay they can take you to court and get a judgment, at that point they can attach bank accounts, garnish wages (if your State allows it) and file liens on any other property you may own like cars, boats, land and homes.
All of this will show on your credit for the next 7-years making it very hard to get any other types of loans without massive down payments, huge fees and State maximum interest rates.
You would be much better off to refinance if you can or find someone to buy the car and take out a small loan for the balance if you have to. |
|
Hunter
|
hey have you considered refinancing or trading in for an older used one. If you return the car it will go on your credit report as a repo and that is not good. some dealers or your finance company may be willing to work with you. Call up some dealers near you and see what they say. |
|
OC1999
 |
If you turn the car in it is considered a voluntary repo. But in terms of your credit there is no difference between a voluntary repo or one where they come and get it. But your credit is probably the least of your worries.
Once you turn it in, you are still responsible for the balance of the loan. They will sell the vehicle at auction, usually for much less than the value. They will then come after you for the difference.
For example if the loan balance is $10,000 and the car is worth $8,000, they may sell it for $3,000 at auction. This means that you still owe $7,000 as well as the fees associated with the repo.
If you do not pay this amount they will place another collection account on your report. The creditor could then file a suit against you and if they get a judgment they can(if your state allows it) get a garnishment on your wages or attach your bank accounts. |
|
americanfreeman
 |
They will sell the car wholesale and you most likely will still owe them some money. If you cannot pay it, it will go against your credit and they will start collections.
See if possibly you can refinance your can for a longer turn to get lower payments. |
|
Doctor Deth
|
problem is, your car is probably worth less than the loan balance so you'd have to pay money and they won't just "return the car" - you'd have to sell it or trade it in and pay the difference on the loan balance from the trade-in |
|
dalbert
|
WHATEVER YOU DO NOT RETURN THE CAR!!!!!! If you do, that's a voluntary repo which is just the same as a regular repo on your credit. Besides that, the dealership will auction the car off at a dealer auction for a low price and sue you for the difference. Just because you return it doesn't mean your debt goes away
Sell the car yourself. Finance the difference you are upside down for or sign a note for the difference. |
|
censored_4_tv
 |
It's considered a voluntary repo. It's still a repossession, still is bad on your credit, and does effect your ability to get another car.
Try working it out with the dealership before it wrecks your credit. |
|
sanitystrksback
|
I'm not sure I agree with the responses below about voluntary repossession being worse on your credit than a bankruptcy. I had a friend who participated in a voluntary repossession and she did it before filing bankruptcy so that the consequences would not be as bad. In her case, she did not end up paying alot out of pocket.
You might want to call your finance company (not the dealer, he can't help) to talk to them about it. They might let you skip a payment, but it's not really a "skip" - they'll just move the payment to the end, extending your contract a month.
Have you considered trying to refinance your loan to get a lower payment? |
|
src50
 |
That is a voluntary repo. They will sell the car for whatever they can get and then come after you for the difference. Not a good scenario. |
|
Les K
|
if you turn it in it is still a repo on your credit report. Try to sell it on your own or see if you can trade it in for something a little older with more miles. You may be able to lower you payments |
|
deehawk_2000
|
Depending on how much you owe, there are a few different options for you.
1. If you are only a payment behind or about to be a payment behind, call your car company. They may be able to let you skip a payment (for a fee of course) if you havent already done so in the past 12 - 18 months.
2. You can try to refinance your car loan with a lower rate and payment. Credit unions, banks or your car company are a good way to do this.
If none of these options help you and you have to turn the car back in, keep in mind you will still be responsible for any amount left over once the car is resold.
Also, I think it is called voluntary repossession, but it still looks bad on your credit not 100% about this.
Good luck! |
|
Frank R
|
It doesn't work that way. Your car is worth less than what you owe on it for one thing. You either pay it, or they repo it. |
|
Credic J
 |
That would be a good idea. If you miss payments, it will put a dent in your credit score, and they will eventually repo your car |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
13 | 27 minutes(s) ago
| | | |
13 | 41 minutes(s) ago
| | | |
13 | 2 hour(s) ago
| | | |
13 | 7 hour(s) ago
| | | |
14 | 10 hour(s) ago
| | | |
12 | 1 day(s) ago
| | | |
12 | 5 day(s) ago
| | | |
13 | 2 week(s) ago
| | | |
13 | 2 month(s) ago
| | | |
12 | 7 month(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
