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My folks are disabled senior citizens and are trying to find a way to get out of a upside down GMAC car loan. They were taken advantage of when they attempted to trade in their old Saturn sedan for a vehicle that had onstar. The agent didn’t give them even the blue book value on their trade in which was in excellent condition. Every time they go in for service the Saturn dealership takes advantage of them by telling them they need work done which they really don’t need. Any advise or help would be greatly appreciated. They are both at the end of their rope and I cannot afford to help them right now since I’m attempting to help my brother with his mortgage.

4 Thoughts on How do you get disabled seniors out of a upside down GMAC car loan?
  1. Reply
    shiprepairwoman
    May 3, 2011 at 4:32 am

    If they aren’t mentally competent the contract may not be valid. If they are competent they are in the same place as younger people who make bad choices. They can walk away and ruin their credit, keep paying until they pay down enough to sell for what they owe or just pay as agreed and keep the new car.
    Nothing you can do even if you have money if they make bad choices of their own free will.

  2. Reply
    OliveJuice
    May 3, 2011 at 4:54 am

    They can just pay the difference between what they owe and what the car is worth to get them back into equity. That’s about it. Your parents were not taken advantage of; they failed to inform themselves. Stop helping your brother with his mortgage. Personal responsibility is the key in both situations.

  3. Reply
    Chaz Vegas
    May 3, 2011 at 5:06 am

    There may be some senior advocacy groups in your area that can help. Maybe legal aid society. AARP. Catholic charities. If they cant help maybe they know someone who can. You have to start somewhere. If the car dealer truely preys on seniors maybe your local tv new station has a consumer advocate reporter. Have you even tried talking to the dealership?

  4. Reply
    Jerry
    May 3, 2011 at 5:07 am

    Advice to all in need of loan!!!!!!!!!,

    I am Jerry William, a U.K resident and a second year student of university of liver pool. Just a months ago i walked into the hands of some dubrious person(scams), when i was in search of a loan of € 4,500 to enable me fund my education since i lost my parents in a gharsly auto accident while they were away on vacation. the scamers parted with my € 540 , which i managed to gather from friends and families to enable me takr care of my bills for lart two months. I decided to tell Betsey.A.Braiaton who communicated the story to Adrew Fulp who happens to be my Vic president for academic services and has got link with various notable lending firm accross the globe. By this means using it to bring a globarlizetion to the world, many student and business men having finacial problems have been able to complete their education to bring a globar happiness around the world .
    My happiness now is that i have not only gotten the loan(€ 15,000 ) to pay my tuition them Harvey Loan Inc, piloted by Mr, Patrick Harvey, i have also been able to establish a chaned to allow me collect money at very low competative interest rate.
    since they have assured me thet i can come for more funds as long i am a genuine person for requesting it and that there is a possibility of repayment at the stopulated time.i have never ever seen this kind of wonder in my life and i decided i will tell it to the whole wild world and i need every one to thank GOD for Mr Patrick Harvey, the man GOD used to rescue me even when all hope had been lost and gone and i will say to every one, no matter how dark and sinful the world is today, there are still GOD fearing and reliable people on earth and if you are in need or require a loan legitimately and Government approve lenders, i will advice you contact this loan lender and you can reach him via patrickharvey12@yahoo.com and i want you all to pray for this man for me and you will also tell the world your own story.

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