How a Voluntary Reposssession Helped Me.

by Karen

I lost my job after I bought a car. I applied for a voluntary repossession.

The car was financed for $10,000. They cut me a sweet deal that allowed me to pay $800.00 in a lump sum, and $300.00 over five months.

It repaired my credit and lowered the amount owed to $2,300!

Now I do not have to pay a car note and the bus system here is pretty good.

Mom's Comments: Karen, how does the saying go --- "When life gives you lemons, make lemonade."

You certainly made some lemonade here. It just goes to show that if you talk to a creditor instead of ignoring them, the situation might turn out ok.

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