How do I get out from an upside-down car loan? My work has cut my hours and I can't afford the

My credit is bad as it is and I had a prior repossesion 3years ago, I don't need another! I tried contacting the creditor but the will not work with me at all. I have tried several other credit companies but none will take the loan. What can I do?? I'm trying to find more work but am limited due to military obligations, I'm needing to keep my credit as in order as possible so I wont loose a security clearence.

How do I get out from an upside-down car loan? My work has cut my hours and I can't afford the payments.?

Sell it and make arrangements on the balance. Borrowing more money simply puts off the inevitable. Since you can't handle credit as evidenced by your prior repo, the best thing to do is have as little debt as possible.

How do I get out from an upside-down car loan? My work has cut my hours and I can't afford the payments.?

Try to sell it to the public( put a for sale sign on it. You may not get what your are asking,) Then pay the people you owe for the car.......I've been where you are good luck.

How do I get out from an upside-down car loan? My work has cut my hours and I can't afford the payments.?

Sell the car, buy a cheap car totally in cash that runs well (if you need a car) and get a smaller loan to pay off the balance of the first car, or debt consolidation.

How do I get out from an upside-down car loan? My work has cut my hours and I can't afford the payments.?

What kind of military obligations do you have?

If you are full-time military, then you are drawing a salary, you are not getting paid by the hour...if you are in the reserves, then you are only obligated to work one weekend a month, and there is absolutely no reason why that is preventing you from finding work because I have never seen someone who relied on that as their only income, unless they didn't need any money.

Walmart, Target, Restaurants, Malls..all of these places have flexible hours that you can make extra money so you don't lose your vehicle...you HAVE to make the payments b/c you can't afford to sell it..I think you already know you bought one that was too expensive if you got a loan like that.

I'm not trying to be mean...but this is why people have credit that never gets cleaned up...b/c they make the same financial choices over and over again.

How do I get out from an upside-down car loan? My work has cut my hours and I can't afford the payments.?

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How do I get out from an upside-down car loan? My work has cut my hours and I can't afford the payments.?

Good question...

If you live in a state with strict lending laws...

you may not be able to get a loan.

Example: In North Carolina, at this time a business

can get a unsecured loan. Not individuals.

Here's a list of rules for the different states.

http://lending-laws.lendborrowclub.com

Sometimes states have interest rate caps and

the lender doesn't want to loan the money at that rate.

Robert