Help with Debt
You are already having trouble making your car payments. To add insult to injury, your other creditors may also be pressuring you to pay up. When you are having financial troubles, you cannot always make everyone happy.
You might want to consider meeting with a financial counselor to see how they might be able to help with all of your finances. You may be current on some bills and late on others, but they all impact your bottom line each month.
What many people don't know is that financial counselors look at your overall financial situation. This goes beyond traditional credit counseling services. They help you see your net worth and evaluate your many financial needs. They can even help you with options to get you back on track.
One tool that financial counselors have at their disposal is called a debt management program. This is a special type of arrangement with your lenders where you may be able to consolidate all of your credit card and personal loan payments into one monthly payment that is usually lower than you are currently paying. Imagine how much easier it can be to make your car payment when your other bills shrink.
When you are having trouble keeping up with your bills, financial counselors can help you get back on track and avoid default. They may be the one resource that you have to prevent complete financial collapse. To find out more about financial counseling, contact the Debtors Unite hotline at 1-800-860-1831.
More desperate situations may need the added legal protections that attorneys may be able to provide. For starters, a licensed bankruptcy attorney can give you more information about your legal rights.
Bankruptcy attorneys can also help you understand options for dealing with debt if you are insolvent. You may be in a situation that warrants a bankruptcy filing. If you speak with an attorney, be sure to inquire about possible stays from repossession. There may be a possibility of avoiding repossession while you are getting your affairs in order with help from the courts.
The worst two things that you can do are either ignore the problem and wait for repossession, or to contact a rogue loan modification company that fails to live up to their lofty promises. These companies are frequently in hot water over deceptive advertising and outright fraud.
Remember that you have certain rights as a debtor and with that comes responsibility to exercise your rights. The best way to do that is to take control of your situation, contact your lender directly and avoid throwing your money at charlatan's and other middlemen that have no authority to modify your loans.