Having Trouble Paying Your Auto payments?

There are many people out there, who are just like you, that cannot afford their vehicle payments any longer. In today's economy that concept is certainly believable, and you can expect the number of auto loan defaults to be in the thousands. I, myself, was in this exact predicament not too long ago. I felt like my auto payment was too overwhelming and that I needed another way to pay or end up losing my car. The panic and frenzy begins when you are feeling that you have just dug yourself a 12 ft. hole in the ground with no chance of escape. You are 2 or more payments behind and the loan company is hounding you for money. The problem is that you can't pay. So what are you going to do?

One of the worst things to do is to just ignore the calls period. This will only make your 12 ft. hole deeper than what it is already. I know what you are thinking, "If I pick up the phone and talk to them, they are going to be rude, nasty, and demand prompt payment." Mostly likely the chances of that happening are very high, but you could also be polite, even when they aren't, and explain your situation to them. When I finally did pick up the phone, after avoiding calls and eventually receiving a letter stating pay up or we will take the car, I was polite and explained that I am just having some financial hardship right now that is preventing me from paying this higher auto loan payment. Explain that you are trying very hard to catch up late payments but you are getting to a point where it is becoming more and more difficult. Worst case scenario they tell you it's not their problem and you need to figure something out, or best case scenario they agree to work with you on deferring a couple of payments to get you back on track or creating a more comfortable payment schedule that fits more with your needs.

There are several ads out there promoting the fact that they can reduce your auto loan up to 50% or more and even create a plan where you can skip 1 or 2 payments. Ok, first off this is completely true. There is a way that this can be done, but would you believe that you can do this all on your own without spending any money? I was driving in my car, which I was still 2 payments behind on, when I heard the first of these ads. "Wow," I thought. "This is exactly what I have been looking for to help me with my money problem." I played it safe, though, fortunately and discovered that what these people are soliciting is provided on the auto loan company's website under a different name. My savior? Auto Loan Remodification. Say it with me, "Auto...Loan...Remodification." I bet you are thinking that you should have thought of this before, since it is also the suggestion to mortgage loan problems as well. Visit here auto shop payments

So what's the big hype about these auto loan remodifications anyway? First off, these are the gems that actually do reduce your auto loan payments 50% or more and can also help you defer some payments as well. I called the bank, where my loan was established, and simply asked if there was something available to help during hardship etc. The answer was yes, and then I was redirected to the hardship department. All they asked me for was a copy of my bank statement, a months worth of pay stubs, asked me what bills I currently pay and how much, and a form that needed to be filled out and signed. Yes, it was that simple. No paying someone else a percentage of reduction for doing something that easy. These radio advertisement gimmicks are just trying to get money doing the one thing that you haven't discovered you can do yourself. So within a day I got approved for my loan remodification, my car payment was reduced more than a half, and I am finally able to breathe again.