When facing difficulties with auto loan payments, it's crucial to communicate with your lender as they may offer solutions like adjusting payment dates, granting a payment extension, or modifying the loan. Refinancing through platforms like MyAutoLoan or Autopay can also provide relief by possibly lowering monthly payments. However, if payments are still unmanageable, selling the car or settling the loan for less than owed are options, though they can negatively impact credit. For unsecured debt, reputable debt relief companies can negotiate with creditors. If all else fails, voluntary surrender of the car is a last resort that can affect credit less severely than repossession.
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