Hi everyone,
My car was repossessed in the beginning of February. I lost my corporate job and couldn't keep up with payments. After the car went to an auction and sold, I currently owe $12k. Is there anyway for me to come to a settlement with the lender for less than 12k?
Thanks in advance.
How to rebuild my credit after repossession.
byu/Bitter-Respect-8201 inpersonalfinance
Posted by Bitter-Respect-8201
2 Comments
Sure. Offering a lump sum payment is a good way to pay off a debt for less than what is owed.
Credit score isn’t a priority if you are still unemployed. Don’t use your cash for debts until you are stable with income and savings.