Need good advice!

I had Americredit for my first car loan, I had it for about a year and a half then traded in the car. they were high and expensive but they were good to me. I am not sure if I have been much help, but I did want to say they seemed nice when I dealt with them!

 

I hope you didn't tell them about your expected settlement $$ !. If things do go bad they will file a judgement for deficiency.
Can you sell the car?
It might be worthwhile to see if you can manage with a low cost rental for a while.

 

i think getting behind on your payments and having THAT reported is not gonna help you get financing at all. Dont repo if at all possible. It is unfortuante that you became ill. But I dont see how you have many options. Six months is not enough time to improve your credit to get refinancing unless you made major improvements in credit repair. I sure hope you dont get more than 30 days late on your payments. I wish you the best.

 

Try this. If the settlement is a done deal and you're just waiting on a check, have your lawyer contact a bank and help you get a loan using the settlement as collateral.

 

Good thought about the loan on the setlement. Some companies will loan almost the full amount of the settlement less a certain expense. OR, drive the car till it's repo'd then buy a new car free and clear with the settlement money.

 

Re: Need good advice--PART 2

Americredit won't pop the car if you keep making some realistic payments, and stay in close contact with them. Call them every week, let them know how much you are sending, how soon you'll be able to catch up, and be realistic. They will lose a lot of money if they have to repo the car. I work with these lenders every day, and believe me, they don't want to repo your car anymore than you want to have it repo'd. If they take it, they have to pay the repo man, transport it to an auction, then wholesale it to a dealer. Net net, they will spend or lose a couple of thousand dollars on the deal.

 

Re: Need good advice--PART 2

I would stop making the medical payments,

you can NOT be denied healthcare, just because

you can not afford to pay, just explain you have no

funds with which to pay, you should qualify for

their "free" services, at worst you would have

to deal with medical collections down the road,

but that is not as bad as late car payments etc.,

the medical bills are not looked upon as as bad as

other types of unpaid "debt".

It is a total disgrace that we live in the greatest

Country in the world & yet people like yourself

are "forced" to pay outrageous amounts to

get treatment for medical care. The whole

system SUCKS. These drug companies make

more money on prescriptions than the credit card

companies make on interest.

Sorry to rant, but this a sore subject with me.

I wish you all the best for a speedy recovery,

and future good health.

Try to focus on getting well and utilize all the

resources of the internet to learn more about

your condition, you can find support groups as well

as info.

May you get well soon!!!

 

Re: Need good advice--PART 2

Do not sign up with Profina, or Ameridebt, or any of the sorts. They ruin your credit worse than bk'ing would. Plus your credit report would show you are working with them, and that does not look good to your future creditors.

 

Re: Need good advice--PART 2

Could not have said it any better.......

 

Americredit Experience

I've had a loan with them since 1998. I've fallen behind a couple of times due to unemployment (layoffs).

Send something - if you can't make the entire payment. When I was out of work (payment is $310/month), I would Western Union Quick Collect $100 . . . $75 whatever I could afford at the time. I would then call then with an anticipated date for the remainder of the payment.

As long as they were getting "something", they never threatened to repo my car.

(Just a short-term way I dealt with a mini-crisis situation)