Cars & Vehicles

What do you do when you have low income and have already voluntarily lost a car?


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Wiki User
2004-05-26 23:05:08
2004-05-26 23:05:08
NO, NO, NO. America did away with debtors prisons in the early 60's. LOL. Your credit will be terrible, you will pay higher interest rates for whatever credit you do get. They may even garnish 25% of that paycheck you live from and to. But you will live. Don't give up.

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Depends upon your debit, to income ratio, but, yes. It is possible.

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No because you are going to make a payment for that car already!

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what happens if i voluntarily return my car to the bank due to job loss

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Yes, it can still hurt your credit if you voluntarily return a car. The car company will still put the debt you owe on your credit report if they choose too.

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