Phoenix, AZ -- (SBWIRE) -- 05/30/2014 -- Financial setbacks can result in some terrible happenings. Families have lost homes because of them. Individuals have declared bankruptcy. Businesses have gone under. Personal fortunes have been eradicated. Worst, for some, is the loss of their vehicles because of fiscal difficulties. Credit-yogi.com, a full service, cost-free website that specializes in financial issues, is here to help hard working people avoid losing their autos to their lenders by offering some suggestions about how to avoid car repossession, such as:
-Catch Up on Overdue Loan Payments
-Sell the Vehicle
-Refinance the Auto Loan
Bring the Vehicle Loan Current
One way to retain ownership of one’s vehicle is to bring any arrearage on the loan up to date. This includes any late fees and other charges attendant to the debt. There are several reasonable answers to how to avoid car repossession. For example, one could petition family members for a loan, or he could apply for a personal loan through a bank. Perhaps there’s a cash-valued life insurance policy he could borrow against, or maybe an IRA at work. If one puts his mind to it, the possibility of bringing the loan current is attainable.
Reinstate the Auto Loan
Many car loans come with the option to reinstate them should borrowers default on them. Reinstatement can prevent car repossession or get the vehicle back after it. Get in touch with Credit-yogi.com to find out more ways to get one’s car back after it’s been repossessed or to stop that action before it begins. Any call to the toll free number listed further on will be answered by a trained staff member, whether it’s made at 2:00 in the morning, 2:00 in the afternoon, or on a weekend day.
Place the Car Up for Sale
The repossession process goes like this: The lender makes attempts to reach the borrower by phone and letter, then contacts a “repo” agent to find and take back the auto. The lender then places the car up for auction, hoping he’ll get the full asking price. One smart tactic that addresses how to avoid car repossession is to sell the vehicle first. If one can get a good price for the auto, he can pay off the loan balance and be free and clear, if out of a car.
Auto Loan Refinance
One of the other solutions to stop vehicle repossession is to refinance the loan. This means that a different lender will pay off the existing loan and devise a new one which has better terms and rates. Credit-yogi.com has helped thousands of people solve their fiscal difficulties since 1999, and, powered by the combined wisdom of hundreds of fiscal experts, is able to dispense wise suggestions to those who need them.
Many years ago, the need for consumers to have a place to go for answers to their financial questions became apparent. In response to that necessity, Credit-yogi.com was developed. For a free initial consultation, dial 1-866-964-9644, any time.