Many clients come into my office with monthly car loan payments they cannot afford any longer. Most people's first thought is to give up the car, especially when they owe more on the loan than the car's is worth.
We routinely file cases for clients to help them with their auto loans. We can reduce the monthly payments significantly, lower the interest rate on the loan, and, if the car's value has dropped below the amount they owe on the loan, we can reduce the loan balance down to the current value of the car.
This procedure has helped many clients keep cars they otherwise would have turned in. Especially when somebody's income has gone down, they need help to make their car loans more affordable.
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