Help with a recent REPO…PLEASE

Tips and Deals Forums Consumer Credit Improve credit Help with a recent REPO…PLEASE

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  • #227062


    Hello everyone,

    I need some advice. I have a very recent repossession that is appearing as a collection item. The problem is that the balance is soo high ($10k) there is no way I can pay this off in a lump sum. I would need to make payment arrangements. But I read somewhere on here, can’t remember where, that payment arrangements are not a good idea. And I fear that if I do work out a payment arrangements, the majority of those payments will go to interest/late charges, therefore taking it even longer to get it paid. What should I do? Everyone has been so helpful with my other questions and I’m finally starting to understand this.




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