How can I become debt-free if I can't afford my payments?

Repossession is risky. At auction, someone might get a good deal, and you could still owe a lot maybe $20,000 or more.

Selling it yourself or back to the dealership is clearer. Get a loan to pay it off so you know your payment. A repo auction is a gamble you can avoid.
 
Yeah, I got hit with a repo once. But then, not long after, they sent me something saying it actually sold for more than I owed, so I didn't have to pay anything else. Weird thing is, it still popped up on my credit report, even though the debt was gone. Honestly, I think it just comes down to the specific deal they cut.
 
I had to. We couldn’t afford it anymore, and my husband wasn’t able to drive it for medical reasons. We owed a lot more than the car was worth, so refinancing wasn’t an option even if we could, i t wasn’t drivable. We only sold it for $5,000, and I still owe close to $8,000 on it. I haven’t made any payments, and it’s been sitting on my credit for almost five years now, but I really didn’t have any other choice. I tried for months and talked to so many people. So far, they haven’t come after me, and I’m hoping they won’t since the time limit for them to sue runs out in two months. I have another two years before I can dispute it and get it off my credit. It definitely hurt my credit score.
 
yeah, you're definitely not alone this happens way more than ppl realize, and i'm so sorry you're dealing with this voluntary repo can seem like the only way out when you're underwater, but there are a few things you can try to lessen the long term hit and maybe settle the leftover balance for less.

first step: check your original loan terms to see if there’s a right to cure period or options to sell before handing it over.

i help folks with this stuff all the time if you want help sorting out your options or navigating what comes next, just dm me also, i run a free support group if you wanna connect with others going through similar things. just reach out and i’ll send you the link. you got this, and you’re not alone ❤️
 
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