I am broke.

Question by jmarie Reward: 25 Pond Points + 10 Knowledge Tokens Status: Pending a resolution
I am two months behind on a subprime car loan. I have two years left on a 5 year loan at 19% interest. I am required to carry full coverage until then which is over 300 per month. I can no longer afford these payments. I considered a chapter 13 but will need a private attorney. Would it be better to let the car be repossessed?


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Comment from ramsey123 User Rating:  0 Knowledge Tokens
yes i woulld if i had a car

Comment from RoamingInsomniac User Rating:  2070 Knowledge Tokens
if you file bankruptcy or let the car go back, your credit will be damaged... if you Just let the car go back, you will STILL have to pay for it... they won't just "let it go" or anything...try selling it...thats the best option


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