Skipping a car payment coupon

[hopefulbk]

Hmmm I got an offer in the mail from my car loan bank (still current with them- was going to default this month because I can't afford it and will file bk hopefully around September). It is a $15 processing fee but it helps me "stay current" for the time being because they add this payment onto the end of my loan. I wanted to keep the car until I filed but keeping a car for 6 months without making a payment seems impossible (I'm expected a repo guy to come before then). I do have $15 to spare but not $400+ for the payment.

What do you think?

How long did it take for them to repo your car after the 1st missed payment?

[jessegirl]

The 15.00 is the fee for skipping just 1 payment right? You may have a problem with them repoing it before you file. You are talking 5 months until you file. Not sure if they will take the car before you file. Its hard to say when they will repo it.

[hopefulbk]

The 15.00 is the fee for skipping just 1 payment right? You may have a problem with them repoing it before you file. You are talking 5 months until you file. Not sure if they will take the car before you file. Its hard to say when they will repo it.

Yes it is only for 1 payment.

[walkthaplank]

Yes it is only for 1 payment.

It buys you an extra month.