finance company wants me to pay $7500 for deficency balance!!! Of course, they want all the money now.And they can legally demand it. Can I negotiate for a lower payoff? Certainly you can and should. If so, please give me stratagies or good advice....
Best way to do that is to negotiate the removal as part of the payoff with the lender. Otherwise, not likely because it is part of your credit history.
A creditor will usually accept a lower payoff amount when requested. Usually a lump sum payoff will result in a lower due balance.
Everything is negotiable; especially in today economy.
The company repossessing the car has no authority to negotiate terms with you. They are simply there to repossess the car. You must negotiate with your lender. Hopefully, you will do this before the the repossession order is submitted by the lender.
Yes, you owe the difference of the amount of the loan and what the vehicle was sold for plus any costs of the repossession. You are expected to pay that amount.
"How Can I Negotiate With My Second Mortgage Lender to Take a Small Lump Sum Payoff" is an article available on the SFGate Home Guides section which explains in detail how to do just that.
The company/bank may be willing to negotiate a settlement to avoid the consumer filing bankruptcy. Or perhaps to avoid pursuing legal remedies to collect the debt. They will not consider a settlement if the consumer is simply asking to pay less than the full amount. For obvious reasons.
ENTIRE balance Due including interest and fees - sale price. BUT, the lender can take an OFFER. cash works best. LOL bargain, negotiate, wheel and deal. good Luck
Sometimes one can negotiate with the company holding title to the automobile and work out a payment schedule to pay back the amount in arrears, but some companies will not negotiate at all. The easiest way to prevent a vehicle repossession is to ensure that all payments are made according to the payment terms.
I'm not sure what you are asking. If you want to know what to do about a repossession that took place in Indiana then your best option is to negotiate a settlement. Or, if you have had a repossession on your credit report and are not sure if it is older then the statue of limitation then your best bet is check the Date of Last Activity on your most recent credit report.
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
The LENDER put the repo on there so they will be the one to take it off. NEGOTIATE.
to negotiate lower prices for supplies.
In order to negotiate a lower rent, you must contact the landlord or property management company. Be sure to have information available to support your negotiations.
This means to talk with someone and come to some sort of agreement. Here are some sentences.The police will not negotiate with the terrorist.I like to try to negotiate before I start an argument.You should see if the salesman will negotiate for a lower price since that is slightly damaged.
I am looking into the ratings of local painters. When I receive a price quote, are the prices typically firm or can I try to negotiate a lower price?
On ANY repo, you pay the balance due AFTER the car is sold. Payoff = 5K, car sells for 2k, fees = 1K, you owe 4K.
The lender will tell you the balance due to payoff the loan. YES, it wil most likely include interest. Read your contract.
It helps your pocket but NOT your CR. The repo is still there unless you negotiate with the lender to remove it also.
Definately try and negotiate a payment deal. Don't take no for an answer, ask for managers, supervisors whoever you need to to make it happen. Be as honest as you can.
Need payoff for a loan
The best way to negotiate down the price is to identify what needs to be fixed on the property and how much it will cost. This is a good way to have an owner lower the price of their home.
Did the lender get a JUDGEMENT? What state are you in? The 7 yr. part is a fed law that a JUDGEMENT must be removed from your CR 7 yrs. from the date of judgement. As part of (and BEFORE) the payoff, try to negotiate with the lender to remove the repo from your CR. Email me if you need more info. PS Congratulations on paying the car off. You are likely one in 100000 who do so. My compliments to you.