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I have a car and want to do a volunteer repro will it hurt my credit
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Melody     Reply with quote
if not that what can l do about my car? l do not have a job at the moment...my parents have money, but they wo not help me..


what do l do??
beert394     Reply with quote
Yes, it will hurt your credit. It shows up just the same as if they came for it. You would end up paying the difference between what you owe and what it sells for at auction. l recommend contacting your lender and explain the situation. They do not want another car to dispose of. You may get a payment extension that would help until you find other work. Your parents having money is not relative to your problem. It is not their car so they are not obligated to bail you out.
Starnr     Reply with quote
Yes it will hurt your credit. Sell it if you can make enough to pay the loan and buy something that you can afford.
zof943     Reply with quote
Yes, a repossession of your car whether voluntary or involuntary will hurt your credit. The car will be impounded and eventually put up for auction. If sold, you will then owe the bank whatever the difference between what it sold for and what you owed on it plus all kinds of fees that they tack on for repossession, storing etc.

Your best bet is to hustle and find a job, any job that will at least allow you to make payments on the car.
Coach     Reply with quote
find a job and pay for car is only thing really any repo will make it harder to get another or any loan of money there after volunteer or not you wil stil owe the money and if they sek it and they dont get the price you owe you still owe that as well sorry but thats how it works
Kim     Reply with quote
yes it will hurt ur credit. & the company will sue u for what ever they do not recover after auctioning it off. Sell the car (try carmax) they might not give u what u want for it. So u will have to take out a smaller loan to cover the difference. But its better to have a small amount owed than a larger car note. And it will buy u some time to find a small job & pay for it without ruining ur credit. Your credit report will show ur last working job. So hopefully they will not call ur last job to prove that u r working.
Lostyo     Reply with quote
You should do ANYTHING to avoid a repossession. It will haunt you and cause you credit problems for 7-10 years.

Get another job, get two jobs, borrow money from friends and family, sell things you have, work with the loan company to get deferred payments --- do ANYTHING but repossession.
Bobyer     Reply with quote
Yes it will hurt your credit, and you will still owe the money whether you have the car or not. It is your choice - pay for a car you can drive or pay for a car that you will never see again. Either way, you will be paying for it.
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