Repo Car

 Finding yourself in financial trouble is devistating.  A loss of a job or income for whatever reason can threaten your possessions and credit.  Whenever this occurs, you should take a offensive approach.

 Avoiding the phone calls from your lenders will only cause you and them much aggrevation.  You did borrow the money and therefore owe them.  Accepting the calls from the lenders is the first step to help keep you car from being repossessed. 

Having a hateful attitude will not encourage any helpful negotiation. You should remember that you borrowed the money and legally must pay them back. If circumstance have come about that detour you from doing so, you will need to discuss this with the lender. Remember that they are people too and any negatitivty from you will only encourage the same response from them. Listen to what they have to say, don't interrupt, watch any hateful tone you may have and then respond pleasantly.

 Calling the lender upfront may ensure a good relationship with a customer service rep early on.  This shows that you are not trying to default on your payments and they may be more understanding.

 Letting your lender know exactly what is going on can help with a "repo car" situation.  Rather you are out of work or maybe have had some type of emergency, just let them know.  Be sure that they know you intend on making good on your loan and that you are only having a temporary income problem.

If your income is not going to recover, for whatever reason, you will need to make some uncomfortable decisions.  Having your car repossessed is a likely option.  You will then have the problem of a deficiency judgement.  This is the difference of what your car is worth minus the amount your lender is able to recover.  Owing $10,000 on a car that sells for $8000, may result in the deficiency judgement of $2,000.  At this point you will either need to pay the difference or possibly file bankruptsy.  At this point you will most likely need to contact an attorney to find out your legal rights.