Credit union is helping--shocker

[dogbone33]

We were going to surrender our Jeep since we were 12k under. The credit union we have the loan with said we may be able to work out a reaffirmation so we can keep the Jeep at FMV!! We are so excited, as we are having great difficulty finding a vehicle. The lawyer also told me to go and get my mobile grooming trailer appraised and we may be able to knock that down also! Gosh, maybe things will be good!

[StartingOver08]

Congratulations! I am not surprised - I had good luck with my CU and reaffirmation of one of my cars. They actually listened - got the rate dropped, the balance dropped and the payment reduced. I even asked if I could skip a payment and they agreed to it.

You don't know until you ask. So far so good with you...hope you get the trailer part worked out too!

[lrprn]

The reality of this economy are making it difficult to keep the stiff-arm up on the creditor end these days. Suddenly many are realizing that the golden goose of never-ending credit with fees and over-charges is dying. It's time to get something while they can, and half is better than nothing if you surrender a vehicle that very overvalued on the current loan.

Be sure you get EVERYTHING in writing - no verbal agreements allowed! Then have your lawyer go over the contract with a fine-tooth comb before you sign it.