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(tn) My Girlfriend Has Made Over 30k In Payments On A Car That's Worth Not Even 10k.

Location: Tennessee. She has been making payments on this car for 6 years and has paid over twice what it's worth in that time. She had gotten a small loan from her bank which she got the car loan through and they added that debt to her current Monthly payments. She now has not been making payments for the last year as she couldn't afford too and they have made no attempt to reposses or even call saying hey you owe us. I'm sure they are not just going to forget about it but really I'm more concerned In the predatory practices. Her loan was at 28% interest which is absurd on a vehicle. She was 18 at the time and I feel like personally she has paid so much on this car there is no way she does not outright own the car as she would be majority equity holder since over time she has paid the principal amount TWICE. I'm trying to help her out because she is worried they will come take it at any moment and I want to know what my options are.

submitted by /u/lionhart44
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(tn) My Girlfriend Has Made Over 30k In Payments On A Car That's Worth Not Even 10k.

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