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Client: Frank T. (Buffalo, NY)
Vehicle: 2003 VW Passat
Book Value: $17,789
Purchase Price: $9,050
Savings: $8,739

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Client: Chris W. (El Cajon, CA)
Vehicle: 2002 Ford Expedition EB
Book Value: $18,944
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Client: Cliff S. (Ft. Worth, TX)
Vehicle: 2002 Hyundai Elantra
Book Value: $9,975
Purchase Price: $475
Savings: $9,500

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I financed the car for 00. Now 00 is due to the bank (remaining balance, I had a car for about 6 months). Thepayment was due on April 1st, so they will repossess the car about May 1st. I couldnt negotiate my payments with the bank, they didn’t want to lower the interest. Can i sell my car to my neighbor for about 00 and the rest of the money (00) will go to the collection department because repossession is sooo bad?? I stopped paying my credit cards about 3 months ago and own about 30 K in debt. I am going to file for bankruptcy. I don’t have any real estate.

What options do I have>?? Please help me!

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2 Comments »

  1. You can’t sell your car without the title. You can’t get the title from the creditor until the loan is paid off. Your neighbor can take the money to the creditor and pay off the loan, then start the process to have the title transferred into his name.

    Comment by Starlight — October 8, 2010 @ 1:51 am

  2. thank Mr. Bush for that !! sorry for what happening to us :(

    Comment by Kerkuk — October 8, 2010 @ 1:51 am

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