I have 5 months left on my car lease, I cannot afford the payment anymore due to the drastic change in the real estate market. I want to turn in the car back to the finance company early. I am not sure how this works or what are the consequences. I imagine this is a REPO. What is my best option or best advise for me to return the car 5 months early. I will owe the finance company about 3,500 for my payment. Can you guys help with a little advise?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.