|
|
bankruptcy vs. "voluntary" car repo
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by Bob
on January 06, 2002 at 23:31:26:
the short version of the story is that i'm currently in a 5 year lease (a bit over 2 years remaining) on a car, buyout right now is $16,900. i lost my job months ago and haven't been able to find a new one. i'm now out of money after i pay this month's car payment (late already) and various other bills. i've been trying to sell the car for about a year now with no luck, and only see two options left: turn in my car early (goes as a repo) or declair bankruptcy. i owe roughly $5500 in other credit card debts that i could probably pay off relatively quick without having to worry about the car payment. i just don't know how a repo compares to a bankruptcy on your credit. it would be nice to get rid of all the debt all at once, but if a repo is still much better than a bankruptcy i think i'd go that route and just try hard to get the credit cards payed off quick. suggestions?
Follow Ups:
Post a Followup
|
