Any suggestions?

[Stilltheone]

Any suggestions?

I have a 2004 Escalade, which we reaffirmed in our '08 bankruptcy. My husband recently lost his job (and thankfully found a new one), but our income is a fraction of what it was.

Our Escalade payment is 460/mo. My husband lost his job on 4/19 and we didn't pay 4/23 payment...and 5/23, 6/23..coming up on 7/23.

I called the bank when he lost his job and they said there was nothing they could do for us. We haven't heard a word from them...not even a late notice.

We currently owe $14,500. We have it for sale at a local dealership for almost $15K. We've had numerous offers of $13,500, but we don't have the money for the thousand dollar difference.

What are our options? Do you just voluntarily surrender it? Do we stick it in our garage for as long as possible to prolong the deficiency loan/wage garnishments? HELP!

[keepinitreal]

You could get a loan for $1000 and use it to get the Escalade sold. Not ideal, but then it would be out of your hair.

[catleg]

I agree, you're better off trying to sell it than letting it go for repo.

Or you could have an accident and it could be totalled, how sad.

[catleg]

I should also mention that a friend of mine had his Escalade stolen while parked on the street in Montreal.

[Stilltheone]

I agree, you're better off trying to sell it than letting it go for repo.

Or you could have an accident and it could be totalled, how sad.

You know, when we tried to trade it in last year on a cheaper minivan, every dealership asked if we had gap insurance...We do...they pointed outside and said "go wrap it around a tree"

I should also mention that a friend of mine had his Escalade stolen while parked on the street in Montreal.

We had some nasty storms roll through here (in WI) and I kept hoping that the Escalade would be totaled (It was outside)...no such luck!