Legal Question in Credit and Debt Law in Michigan
Anything I can do now?
I need to know what I should do about my payments being behind on a leased vehicle loan with Ford Credit. I tried to explain to the person that helped me before but she said I could only extend 2 months. What has happened is I have been out of work for about 5+ months and cannot receive any unemployment because I am self employed. Hurricane Katrina made it difficult for my work to continue steadily. I built web sites for many businesses there. It was most of my income. I am working very little right now but it is picking back up. I am only seeking an answer as to what my options are here. I wish I could make my payments right now but I just cannot. If I could go one payment with a little extra to put towards my back payments I could start the end of this month but I just don't have the whole amount right now. Is there any hope of saving my vehicle and credit here? What should I do? They have taken the vehicle back already. But I still would like to make it right and get my vehicle back too. Is this possible? I have never had this happen and the company knows that.
1 Answer from Attorneys
Re: Anything I can do now?
Unless the leasing company did something improper in the repossession process, it is completely up to them as to whether they will agree to some terms with you to make up the payments and allow you to regain possession of the vehicle. You may want to try to get a loan from a family member or friend to help you out with this.
Good luck.
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