+ Reply to Thread
Results 1 to 2 of 2
  1. July 18th, 2010 #1
    striving
    striving is offline
    SavvyMoney Member
    Join Date
    Jul 2010
    Posts
    3

    Re: Payment Schedule

    I HAD A REPOCESSION 2 YEARS AGO AND A BALANCE OF 9,000 AFTER THE TRUCK WAS RESOLD. I FEAR I WONT BE ABLE TO PAY THIS BALANCE OFF. ANY ADVICE
    Reply With Quote Reply With Quote
  2. March 27th, 2011 #2
    darren.hanson
    darren.hanson is offline
    Moderator darren.hanson's Avatar
    Join Date
    Mar 2011
    Location
    Brentwood, PA 15227
    Posts
    52

    Quote Originally Posted by striving View Post
    I HAD A REPOCESSION 2 YEARS AGO AND A BALANCE OF 9,000 AFTER THE TRUCK WAS RESOLD. I FEAR I WONT BE ABLE TO PAY THIS BALANCE OFF. ANY ADVICE
    Go over your SmartPay plan for the rest of your debts, figure your monthly budget for things NOT on the plan (utilities, rent, etc.), and come up with a number you can spare to pay this down.

    I have 26,000 form a second mortgage when the first foreclosed on my house 10 years ago. I'm disabled on a fixed income so the bank is accepting $25/month. I won't live long enough to pay this off, but it's enough that they don't call me or take me to court for it.

    The other alternative is to try to stonewall them, not admitting ownership of the debt, and wait for both the Statute of Limitations to run out and the debt to age off your credit report. The risk here is that they'll sue you BEFORE the Statute of Limitations runs out and its easy to inadvertently say something that will restart the clock.
    Reply With Quote Reply With Quote
« Previous Thread | Next Thread »

Posting Permissions

  • You may not post new threads
  • You may post replies
  • You may not post attachments
  • You may not edit your posts

Forum Rules