HELP ME IDK WHAT TO DO

[Jakeman17]

So heres the deal. I had worked out a deal with my dad to take over insurance and payment on my 09 G6. Well he and is GF have been laid off since October. i was making all my payments until i was laid off in March and could not make payment which i said i would get a loan ect. Well he said he could do it and help me since im still a full time student. Well his GF just told me today that they can no longer afford my payments of my car and my insurance. He has a 2008 Yukon Denili XL and a 06 Mercury Milan also with payments. I have no money saved it was all used to pay of debt im still in. I have been looking for a job since March. Cant afford payments. Im young looking for some guidance not really sure what to do with out putting myself in the hole.

So my question is WHAT DO I DO??

[Phenom]

first question, is there anything you can sell (other than the car) to get a couple of months payment? If not, are there any jobs that can be done around ur school/college to get a bit of spare cash?

[Jakeman17]

I have nothing to sell. And I am currently working at a car wash for some extra cash but its nothing big. I have applied and asked around and nothing

[Phenom]

taxi service for your friends? if they are drunk u can drive them home for money hahaha. or if your good with a camera you can go on craigslist then click gigs and see if anyone needs a cameraman for anything nearby. they pay like 30 bucks an hour

like this one for example

http://sfbay.craigslist.org/eby/cwg/1749761547.html

[Jakeman17]

I have been looking on there for some gigs just sent a email for yard work earlier today

[Phenom]

good. anything helps. sell parts off ur car if ur desperate but DO NOT SELL THE CAR!

[Ringo64]

My best advice, even though it hurts me to say it, is to sell the car man. It just doesn't add up to having it repo'd. Having it done so will ruin your credit rating and potentially a lot of your future life. Still think it through if this car wash gig and maybe cut some lawns or something till you can find a good paying job too, this could buy you some time till its clear whats the best option.

[Jakeman17]

My best advice, even though it hurts me to say it, is to sell the car man. It just doesn't add up to having it repo'd. Having it done so will ruin your credit rating and potentially a lot of your future life. Still think it through if this car wash gig and maybe cut some lawns or something till you can find a good paying job too, this could buy you some time till its clear whats the best option.

At this point i have no problem selling the car to get back on my feet. The problem is its all in my dads name. i cant do anything. The car wash is making some money but not even half a car payment but its been rainy since i started. Im looking to do anything i can just to keep me going which is what the car wash was for.

[G6shift]

go scrapping. i have been doing it the last two or three days and i have made all kinds of money from what was essentially trash to some people.

[Erat]

The car is in your dads name?

So if it gets repo'd then ur credit isn't screwed? Right?

But i would sell it, and pick up an old tempo or something.

[Jakeman17]

G6Shift:

I have tried that before and get nothing out of it.

The car is in your dads name?

So if it gets repo'd then ur credit isn't screwed? Right?

But i would sell it, and pick up an old tempo or something.

Correct. i cant sell it he wont allow me to. I have been looking for something but dont have the money to get anything

[markpetersonii]

Keep doing what you're doing. If you lose the car then you lose it. You said you WOULD sell it if you had to. Well, if it comes down to it, at least it won't be YOUR credit getting ruined.

[Mariachi]

Keep doing what you're doing. If you lose the car then you lose it. You said you WOULD sell it if you had to. Well, if it comes down to it, at least it won't be YOUR credit getting ruined.

if their isn't anything you can do, just let your car go. get yourself settled and then get yourself another g6 if you want. i had to sell my eclipses bcuz of financial problems. even though i loved them, they just had to go.

good luck man.

[Ghost]

if they cant make the payments...repoed? then what? arent they sold cheap if they dont go back for them?

[Crimson]

ummm go out in the country area around you (dont know how close you are to that) and do hay work for people. pay is decent and the body/tan you will get rules.

[[ChaosweaveR]]

Let them ruin their credit, and fall behind on payments. It's not your problem, save up some cash and get a beater. Look into a car loan from a credit union for a newer ride.

[Sam]

That sucks man, I would try and pick up odd jobs and there are oddjobs you can find on craigslist that people need to get done.

[Silversmok3]

So heres the deal. I had worked out a deal with my dad to take over insurance and payment on my 09 G6. Well he and is GF have been laid off since October. i was making all my payments until i was laid off in March and could not make payment which i said i would get a loan ect. Well he said he could do it and help me since im still a full time student. Well his GF just told me today that they can no longer afford my payments of my car and my insurance. He has a 2008 Yukon Denili XL and a 06 Mercury Milan also with payments. I have no money saved it was all used to pay of debt im still in. I have been looking for a job since March. Cant afford payments. Im young looking for some guidance not really sure what to do with out putting myself in the hole.

So my question is WHAT DO I DO??

Hopefully this doesnt come too late.

I was in your exact situation a year ago , lost my job and had to live 3 months on my savings.When that ran out, I was in deep haggis financially because I couldnt afford my car loan.

I called the bank and requested ( almost begged,actually) that the payments be added to the end of the loan to keep me outta default, until I got my money and job situation settled. The bank did it, I got a new job after 3 months, and made the payments. With folks losing jobs right and left you're not the only one who's in that situation, and by calling the bank and saying that you want to work things out, its better for both parties.

You get to keep your ride, the bank doesn't have to hire a repo guy to find the car ( and hiring a repo truch aint free), everyone wins.

If you DONT call them and let the loan go into default, they'll hire a repo company to find the car. Unless you move the car to someplace youve never lived at before (remember your references on the loan app? ), they'll find the car. If that happens, the bank will try to auction the car to recoup their cost on the loan.

Since its VERY unlikely that your bank will get at auction the cost of the loan balance plus collection and repo fees, youll get hit with the credit damage of a reposession ( 7 years negative report) AND a final balance due to your bank for the car loan balance+repo and collection fees -auction income. That's called a deficiency judgement, and it means you will still owe on your car-but you wont have it to drive, and wont qualify for a loan towards a new one.

Talk to the bank,and see what they can do for you . Worst case, they say no, which is where you are right now by not talking to them.

God bless, and good luck with all this.

-Smok3