Auto Loan Vermont Virginia

[cassamia]

I have an auto loan with Chrysler Financial. It will be paid in full February of 2009. Since late 2007 my husband and I have been having some financial difficulties. I requested an extension for month of October basically asking to pay interest for october and tacking the payment on to the end of the loan. The finance company stated that they could not do that for me at that time I had to wait. So what happened was the payment for October 25 was paid Nov 15th. Subsequently, that means my nov payment which is paid with my november 15th paycheck now wont be paid until december. I hope you get the idea of what Im saying. Therefore, every month Im 25 days late. Although I dont find this acceptable myself I cant borrow 425 dollars from anyone and then pay them back either. Just recently Chrysler called about a payment that is late (same situation still at hand). Telling me I was hiding my car!! This is absolutely not the case. I was asked when I was going to make payment it was the 12th of the month and I explained it would be paid on 15th. I was basically told by rep that I was lying and hiding my car and I better tell him where it was. He stated I had to pay my car first and when I stated my rent came first he said well make a choice your rent or your car. I said well my rent and then he says to me well you better learn how to finance better. I hung up on him since the call came while I was at work. Are they allowed to harrass me like this/?? I mean times are tough when the car was purchased we didnt have financial woes. My husband got laid off at one point and I had an accident and was on short term disability so things have gotten extremely tight. Its not like I choose to do this. I have never had a history of bad debt or anything like this. I have begged and pleaded for help from them to no avail any thoughts or advice would be appreciated. thanks

[Kick Me]

Call the finance company and ask to speak to a supervisor. (Don't try to deal with a service rep.) Explain the situation, (your hubby was laid off and you were temporarily out of work due to the accident), and ask again to have the payment extended.

Point out that although you are able to make one payment a month that you simply can NOT make a double payment at this time. Your current payment history should support this. Most finance companies will work with you for one payment. You just have to talk to the right person at the finance company. It may hurt your chances that you are technically one month behind on all payment since October but it is worth a try. However, you need to make sure and tell the person you talked to that you asked for the extension back in October but thus far it has not happened.

What about your economic stimulus check. With you and a spouse you should have received at least $600.00 which is more than enough to make up that $425.00 payment.

Have you asked about a refinance for the car? Do you belong to a credit union by any chance. CU's are a pretty good resource to turn to to refinance a car.

As a last resort you might want to consider applying for a new credit card with enough cash line to just pay off the note for the car. Most CC companies are offering very low to no interest for several months on cash advances or transfers of balances. You could easily have the card paid off before the promotional period ends. In the mean time it would give you the title to the car and as a last resort you could get another loan using the car with a free title to pay off the CC.

As for them calling you at work they can. What they can NOT do is call you multiple times and they can NOT harass you. Also IF your employer disapproves of the calls they must stop them immediately. (Of course you must tell them that they are NOT to call you at work.) Make sure the supervisor of that rep knows he has called you on your job and you felt like he was harassing you. It won't make the debt go away but it might help make those kinds of calls go away. Especially if your supervisor is privy to the call and it is in any way jeopardizing your employment.

See here for fair debt collecting practices:

http://www.ftc.gov/bcp/edu/pubs/cons...dit/cre18.shtm

Bottom line with less than a year to pay the car off the finance company stands to make a pretty good profit if they repo the car.

Good Luck to you.

KM