You can try to work out a payment plan. If you do, confirm any payment plan in writing. Also, be sure to ask about any negative impact that a workout plan might have on your credit report. If you are told there will not be any negative impact if you select one of the options you are offered, ask for confirmation in writing. If you have trouble making your auto loan payment, the sooner you contact the lender the better chance you have of working out an arrangement that gives you time to get back on track.
The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.
