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We have two auto loans through americredit and I dont think we will ever pay them off.The first one we have is almost five yrs old, the loan was for 18,000 I pay 500 a month and we still owe 12000.

The second one was for 14000 and in the two yrs we have been paying 380 a month we have only paid 1200 towards the loan.

I spoke with americredit and got no where with my situation.With the economy the way it is we are thinking about letting one of the vehicles go back do to money being tight.

Review about: Americredit Loan.

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Anonymous
#134934

we have a balance with americredit of 5151.00. the truck is 7 years old and paid off but interest keeps piling up at the tune of 1.70 daily and 180.00 monthly in late fees. cant get title until paid off.

Anonymous
#69352

Look into filing chapt 13 Bankruptcy. if it fits your situation, you may qualify for whats called a cramdown.Its a court-ordered reduction of the secured balance due on your cars.

I had mine reduced to half of the balance owed to the car's current "fair market" value.

I was in a similar situation due to being out of work for a short time, enough that i couldnt get caught up to date, but remained only 1 month behind for nearly 2 years.

Its their own fault i was 'forced' to file Bankruptcy when they attempted a repo (which i prevented). If they would have just worked things out with me, i would have paid the full amount.....now its too late for them.

Anonymous
#64451

I understand your situation because I'm in the same boat this is how this company makes their money. You will end up messing up your credit seek some credit counseling before you make a move

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