Posted on: 30th Dec, 2013 07:24 pm
i live in Michigan. I had trouble keeping payments regular the last couple of months. my loan has matured in nov. and I owed 500 odd dollars in late fees and 3 back payments from 3 different months( not in a row). now that it has matured they want the whole amount plus additional fees and that add up to 1800 dollars. plus they boosted the finance fee up to 24 percent. The man I talked to told me it was better to send out the letter to repo and then I can try to arrange payments with that department instead that way I wouldn't have no interest rate attached to it.. has anyone done this? it sounds odd
additionally this man PROMISED me that they wouldn't repo it without them trying to help me out. that they don't WANT to repo because in the long run the wouldn't make much money from it or lose money from it so they try their best for a arrangemnt. I don't know if I should believe that or not
Hi sarah!
Welcome to the forums!
There is no harm in sending a letter in order stop the repo. You can send the letter and check out if things get better for you.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
There is no harm in sending a letter in order stop the repo. You can send the letter and check out if things get better for you.
Feel free to ask if you've further queries.
Sussane