Say you’re a responsible car buyer. You bought within your means. Your payment is only 20 percent of your income. You’re up to date on your payments. You’ve done everything right. But now, due to no fault of your own, your job has been cut, leaving you with no way to pay your car loan. What do you do now?
- Involuntary job loss
- Inability to work due to physical disability
- Job loss due to critical illness
- Bankruptcy if self-employed
- Loss of driver’s license for medical reasons
- International job transfer
- Death due to critical illness
- Temporary job layoff
- Inability to work due to stress or mental disability
- Accidental death
Repossession photo via columbiabusinesstimes.com.
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