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Will auto finance companies (city bank auto) reduce loans on loan we have cant afford to own auto 622.00 month pluss gas and insurance was terminated from job i had for 13 years making 45,000 now 12.00 per hr just want to keep credit from going to pot auto worth appx 9,000less than i owe

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The journey to an improved lifestyle begins with the first step.

Confident Lifestyle 

Confident Lifestyle Blog 

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Sorry to hear about your misfortune. But now is the time to deal with this situation head on before your credit is damaged.

You may want to check your credit agreement on your auto loan to see if you unknowingly agreed to the credit insurance that will assist in making your car payments in situations like this.

 

Next, contact the lender and discuss the situation and see if they will offer you any options such as extending the term of the loan, refinancing at a lower rate or even letting you miss a payment or two until you can get back on your feet.

 

Then you need to set up a strict family budget and cut out any unnecessary items that you really don't need and can live without. 

 

To help you out, here are three free publications that could really help you. The first is setting up a family budget.

http://confidentlifestyle.com/Documents/family_budget.pdf

 

This next one will show you ways o improve your credit and will also show you ways to prevent the damage of credit problems.

http://confidentlifestyle.com/Documents/fix%20credit.pdf

 

Then this last one will give you some clever ideas for raising cash in an emergency.

http://confidentlifestyle.com/Documents/emergencymoney.pdf

 

Also consider consulting with a credit counseling agency. They can help to set up a budget, renegotiate interest rates and payments.

Here is the link to a great site that will get you headed in that direction.

http://www.nfcc.org/

 

Good luck and best wishes. 


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