Divorce Debt SHOCK: $7K Underwater! 3 Ways to AVOID Financial Ruin NOW!
Did you know a staggering one-quarter of car trade-ins involve negative equity, trapping owners in a cycle of worsening financial strain? This article details the struggle of facing a 7,000 dollar underwater truck loan post-divorce, a harsh reality for many. It emphasizes engaging lenders for potential refinancing or adjusted terms to avoid repossession and further credit damage. While selling or trading in the vehicle offers a potential reset, it is crucial to cover the debt gap rather than rolling it into a new loan. Voluntary surrender is generally not recommended, as it often harms credit and leaves you liable for the remaining balance. To empower your financial decisions, make sure to subscribe to our channel today.
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