According to International Monetary Fund (IMF) American households are trying to save more by cutting down their spending in reaction to the global financial crisis. IMF says that on an average people are trying to save 5-6% of their disposable income. With the threat of job cuts, salary cuts, etc. Americans are trying to compromise on their other low priority expenses. They compromise on their car loan interest payments to make timely payment for their home mortgages. This is leading many banks and financial institutions to repossess their cars due to non-payment of interest amount.

“Having a personal car has become a basic necessity in today’s fast life. We have to go to office on time, attend meetings, drop our children to their school, and so many other things. It is impossible to imagine our lives without our car. On the other hand, with this economic downturn, job loss, less disposable income, and so many other barriers it becomes very difficult to make those monthly payments of your auto loan. We understand your situation and hence provide loan modification services for those who either do no have money to pay their monthly auto loan payments or are paying much more than it is worth it. Auto Relief Group helps you with negotiating loan amounts, interest rates and term extensions. ARG acts as a mediator between you and your bank and explains them the reason for your non-payment and negotiates with them and close a deal in favor of you”, says Anthony Tribunella, Director of Operations at Auto Relief Group.

“Hence, if you go for loan modification you are also able to save some money which you would otherwise have paid for your high auto loan payments. Auto Relief Group relieves you from this burden and provides best advice on your auto loan. Pay lower, avoid your car from repossession, save money and enjoy your car with your family”, Anthony signs off.

About Auto Relief Group:

Auto Relief Group was founded to help customers deal with their auto loan payments in time of need. Over the years each member of their team has developed a stellar reputation, and industry connections, allowing the company to quickly identify opportunities and act to assist the clients in their efforts to reduce their payment and keep their car, SUV or truck.

For more information on Auto Relief Group and its scope of services,

Visit: http://www.autoreliefgroup.com/default.aspx

Contact:

877.216.7203

877-259-3559

877 842-7667

[email protected]

Thousands of people are suffering from foreclosures and repossessions due to the sub-prime loan crisis in the market. People who had a low FICO/ credit score had an opportunity to buy their own cars, automobiles, etc by obtaining a sub-prime loan. Though they had to pay a higher interest amount, they didn’t mind as they were able to own whatever they want to. Due to the economic condition, people are stuck up with so many necessary expenses that they are unable to pay their house and auto loan payments on time. Thus, going for a loan modification can help the economy recover and also reduce payments for borrowers to make payments on time.

“Just imagine how uncomfortable you would feel when you will not have your car? How will you reach office on time? How will you drop your children to their school? Will you be able to take your wife shopping? I am sure no one would want to face such a situation in their entire lifetime. Hence, I am glad to say that we provide loan modification services for your automobiles at Auto Relief Group.  It will help you avoid repossession against a very small fees charged. The entire process will not take more than 3-5 weeks and we will provide you the forecasted depreciated value of your car for the next 12, 24 and 36 months based on actual market dynamics”, says Anthony Tribunella, Director of Operations at Auto Relief Group.

“Auto Relief Group helps in restructuring your loan by renegotiating loan amounts, interest rates, term extension, etc. After this step comes the actual closing and execution of modified loan payments. Auto loan contracts are much simpler and require few if any additional filings, taxes, stamps or use of 3rd party providers or title insurers. After you have accepted the modified terms, we will use a Mobile Notary service which will meet you at your home or work and notarize your new loan docs, effectively concluding the process”, explains Anthony.

Therefore, if avoiding repossession requires just a few dollars then who would not mind paying that and keeping their car with them. Auto loan modification can save us from sub-prime crisis, repossession and high monthly payments.

About Auto Relief Group:

Auto Relief Group was founded to help customers deal with their auto loan payments in time of need. Over the years each member of their team has developed a stellar reputation, and industry connections, allowing the company to quickly identify opportunities and act to assist the clients in their efforts to reduce their payment and keep their car, SUV or truck.

For more information on Auto Relief Group and its scope of services,

Visit: http://www.autoreliefgroup.com/default.aspx

Contact:

877.216.7203

877-259-3559

877 842-7667

[email protected]

It is very common for people to delay their bill payments as there are so many other expenses to be paid first. Inflation being the biggest threat for Americans, the prices of food, gas, petrol, and many other basic things are increasing day by day. It is becoming very difficult for people to save money out of the many other expenses they have to make for basic necessities. This leads to bad credit, poor credit score, higher debts, higher interest payments, etc which makes life hell.  Now what can be the solutions to these problems? Is there any way to improve our credit score for future loans at lower interest rate?

“I have the answers to all your questions. First let me explain the disadvantages of a bad credit score. Firstly, getting a loan is very difficult if you have a poor credit score. Secondly, even if you get one you will have to pay a high interest rate as you are not a reliable person according to lenders. Lastly, your market credibility will go down and you will miss out on many benefits that a person with high credit score can avail”, says Jeffrey Taylor, Director of Sales at Auto Relief Group. “Did you know that it takes almost seven years for a credit score to improve if you have suffered repossession? Yes, it is true that repossession of car, house, etc is the worst thing you would want to happen with you. As people consider paying their house loan payments first, they usually delay car payments. This could lead to repossession which will affect your credit score. If you opt for a Car/ Auto Loan Modification procedure to be done for your car, you can reduce your monthly payments and it could be easier for you to pay on time”, Jeffrey further explains.

“A person who usually will want an Auto Loan Modification will be someone who has lost his job, got a demotion in his job, suffer from some disease, owe more than the vehicle is worth of, etc. A loan modification company such as ‘Auto Relief Group’ can provide you with the best service of an auto loan modification procedure.  Banks and financial institutions try to avoid repossession of cars, trucks and SUVs. Banks are more likely to work with you on your loan modification rather than taking steps for repossession. They find it more difficult to search for a new buyer to sell the repossessed car, hence they are ready to compromise with a lower price if you given them a valid reason for your non-payment. Therefore Auto Relief Group can help you modify your loan in just three simple steps. It will prepare an Options Report for you, help renegotiate your loan price, interest rates, monthly payments, term extension, etc and close the best deal for you. ARG will convince bank about your reason of non-payment like lost job, lost income, illness, etc and give a fair modification of your Auto Loan”, concludes Jeffrey Taylor.

About Auto Relief Group:

Auto Relief Group was founded to help customers deal with their auto loan payments in time of need. Over the years each member of their team has developed a stellar reputation, and industry connections, allowing the company to quickly identify opportunities and act to assist the clients in their efforts to reduce their payment and keep their car, SUV or truck.

For more information on Auto Relief Group and its scope of services,

Visit: http://www.autoreliefgroup.com/default.aspx

Contact:

877.216.7203

877-259-3559

877 842-7667

[email protected]

Unless you live in central New York, you can’t survive your living without a car. A car becomes a necessity. If you want a job, to be in the job, to drop your kids to school, picking them back from the school, shopping and other outings, a car is very much a necessity. Even for a lighter side, to meet your girl/boy friend, to date with them you got to have a car. So, car plays a great role in an American’s daily life. When life goes cool, the car goes cool. But what about a debtor filing for Chapter 7, what if the company announces Chapter 13 bankruptcy? If an employee had bought a new car, can he/she keep the car? If they do want to keep it, how can they? Since not everybody will have enough funds, a majority of employees purchasing a car purchase it through loan. So, if the car has a loan, and the debtor cannot afford to pay back and files for bankruptcy, it is natural that the creditor will demand the property back.

Understanding the Chapters

Before going further let us understand what this Chapter 7 & Chapter 13 of United States Law book is. (Readers who are well versed with these topics can continue from the next Paragraph)

Business Filing Chapter 7) (Courtesy: encyclopedia): When a troubled business is badly in debt and unable to service that debt or pay its creditors, it may file (or be forced by its creditors to file) for bankruptcy in a federal court under Chapter 7. A Chapter 7 filing means that the business ceases operations unless continued by the Chapter 7 Trustee. A Chapter 7 Trustee is appointed almost immediately.

Individuals Filing Chapter 7: Individuals can file for bankruptcy when they are badly in debt. In a Chapter 7 bankruptcy, the individual is allowed to keep certain exempt property. The value of property which can be claimed as exempt varies from state-to-state.

Chapter 13 (Courtesy: encyclopedia):: Chapter 13 bankruptcy filing is a way for individuals in the United States to undergo a financial reorganization supervised by a federal bankruptcy court. The Bankruptcy Code anticipates the goal of Chapter 13 as enabling income-receiving debtors a debtor rehabilitation provided they fulfill a court-approved plan.

An individual who is badly in debt can file for bankruptcy either under Chapter 7 (liquidation, or straight bankruptcy), under Chapter 13 (reorganization) or Chapter 11, Title 11, United States Code. Debtors may also be forced into bankruptcy by creditors in the case of an involuntary bankruptcy, but only under Chapters 7 or 11. However, in most instances the debtor may choose under which chapter to file.

Is there any way to save your car?

So, is there any way to save your car? Yes, there are few ways to save your car, even if you have a loan. Bankruptcy information says, when a debtor files for Chapter 7 bankruptcy, he/she can Redeem the car by paying the lender the value of the car and discharging the rest of the car loan in bankruptcy. The law (United States) says this way; in a Chapter 13 bankruptcy, a car can also be redeemed if the car loan is (almost) more than two and a half year olds or more than 910 days old or if the loan was not used only for purchasing the loan. (Most of the small level “business men” has this practice of doing this “rollover loan” from a trade-in…). When your vehicle is older than this particular number of days (there is an other chance), the bankruptcy trustee will evaluate and they may allow you to pay a “Fair Price” for the Market Value of the vehicle plus a reduced interest. As the value of the vehicle depreciates as days go there is a chance for the trustee to consider a less price than the original value of the loan.

When there is no cash available for the debtor to pay for the car, he/she is allowed to take a loan to do so. The notable thing is that they are allowed to take loan even in bankruptcy. File for bankruptcy and keep the car!!!

There are few things to be noted in this (Because year 2005 had gone some changes in the bankruptcy law — On October 17, 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) went into effect.), if you file for bankruptcy and you purchased a vehicle before 910 days you are supposed to pay the price for it (i.e., the entire balance amount along with the interest you owe during the Chapter 13 bankruptcy!). It is almost like you will be dried till the lost drop! But of course, they are not that rude, you can still own your vehicle!

Auto Relief Group

This looks real good, isn’t it? Everything has its own complexity. But one thing should be noted, Chapter 7, Chapter 13 and bankruptcy are the worst case for an individual or an organization. Before being affected by any kind of debt problem it is always better to prepare ourselves for a better situation. Nobody wants to pay more than what it owes, isn’t it? That is what Auto Relief Group provides you. You can pay for what it is worth for. We provide knowledge and support in reducing your auto loans.

For further information visit: www.autoreliefgroup.com.

Contact:

877.216.7203

[email protected]