My question involves an auto loan or repossession in the State of: Illinois
I have a car payment of 550 a month. My income has dropped 2200 a month. I am barely getting by with my mortgage payments. I can't afford the car payments anymore. I want to give my car back. I have called the lender and they won't work with me on the payments or reduce the interest to make the car more affordable. I have fallen so far behind on payments that my credit has already taken a hugh hit. I seem all the other responses but I was wondering if I give the car back and still unable to pay will they put a lien on my home? If so, that way I could pay them off when I ref and sell. I can't ref. my home right now the I owe more than the house is worth according to my mortgage lender.