answersLogoWhite
Ask
Cars & Vehicles
Repossession
Loans

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

454647
Answer

Top Answer
User Avatar
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.
1
0

Related Questions

User Avatar

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

User Avatar

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

User Avatar

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

User Avatar

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.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.