If anyone could give me any advice on this I would appreciate it.
I got in an accident in an accident with my car a few months ago, and during that time I fell asleep at the wheel and got into a major car wreck, totalling the car. During this time unfortunately my insurance had lapsed on my car, unfortunately to me forwarding my mail to my new address and not receiving a notice of cancellation until two weeks after the accident. The people that hold the loan do provide coverage to cover them but do not until two months after your origional plan expires.
So anyway, I havbe consulted with a bankruptcy person and do not want to take that route. (The note is around 38K)
Has anyone ever gone or gone to GMAC with this scenario before, and said something to the effect of........
This was an unfortunate accident, I am sorry believe me that it has happened,(I was in the hospital for three weeks)but I want to not let this thing fall to a repo, but then again I want to pay this debt off, but can not pay it off all at once, but I also want to go back to you and give you my business again because I need to buy another car. If I could scrap together 15-20K, at the same time getting my new car through you, would that be some thing that you would consider?
I would think that the money to them would be better than the repo and getting nothing correct? I am not a homeowner but someday want to be, and I don't want it to affect my credit. This happened in Texas by the way. Any help, suggestions at all would be greatly appreciated. Thanks.
DMAC74
I got in an accident in an accident with my car a few months ago, and during that time I fell asleep at the wheel and got into a major car wreck, totalling the car. During this time unfortunately my insurance had lapsed on my car, unfortunately to me forwarding my mail to my new address and not receiving a notice of cancellation until two weeks after the accident. The people that hold the loan do provide coverage to cover them but do not until two months after your origional plan expires.
So anyway, I havbe consulted with a bankruptcy person and do not want to take that route. (The note is around 38K)
Has anyone ever gone or gone to GMAC with this scenario before, and said something to the effect of........
This was an unfortunate accident, I am sorry believe me that it has happened,(I was in the hospital for three weeks)but I want to not let this thing fall to a repo, but then again I want to pay this debt off, but can not pay it off all at once, but I also want to go back to you and give you my business again because I need to buy another car. If I could scrap together 15-20K, at the same time getting my new car through you, would that be some thing that you would consider?
I would think that the money to them would be better than the repo and getting nothing correct? I am not a homeowner but someday want to be, and I don't want it to affect my credit. This happened in Texas by the way. Any help, suggestions at all would be greatly appreciated. Thanks.
DMAC74