Auto Loan Modification
Our team has over 60 years of experience and we are dedicated and
committed to bringing you the most comprehensive, easy to use, step-bystep guide available for modifying your car loan. Although most of the material is general and each lender has their own criteria to modify your oan, the information within this book conveys the experiences of our
experts' broad knowledge of the auto finance industry.
This information may be a little overwhelming at first, but we have made
The Complete Guide to Car Loan Modifications a condensed and easy
to understand portrait of what the professionals do when negotiating a loan
modification on your behalf. Just take your time and digest the information
at your own pace. This is not rocket science and rest assured, you can do
this yourself!
Modifying your car loan is an easy process as long as you know the criteria
your lender is looking for as well as knowing how to speak their language.
What Your Lender Doesn't Want You to Know
When you financed your car, the terms that were set forth at closing were
the guidelines for your loan. The payment amount, what is the due date of
your payment, the length of the loan, the amount of the loan, the interest
rate, late fees and much more are all included in these documents. When
we sign these documents we are committing that we will live up to and fulfill all of the terms and conditions as stated.
When we enter into this contract we presume that our current state of
financial stability will continue and we will be able to fulfill our commitment.
Unfortunately, unexpected events happen that challenge our household
income. A loss of job, divorce or separation, illness (see section on
hardship letters for more) can all be circumstances beyond our control that
may cause us to have challenging times financially.
When trying times arise and we become late or miss a payment, the
collection calls start pouring in like machine gun fire at all hours of the day
and night. We are forced to tell our story to someone who has neither
compassion, nor any interest other than collecting the loan payment. They
can over step their boundaries, be rude with threats of repossession, or any number of intimidation techniques used to scare a payment out of you.
All of these uncalled for actions are done by a paid per hour employee. These hourly employees are only collectors. They have no real ability to get
anything done other than defer a payment! On average, most loans will
defer 4-6 payments throughout the full term of the loan. (Payments are just tacked on to the back end of the loan)
Auto Loan Modification
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