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  1. Thanks for all of the advice. I decided to have CAC come pick up the vehicle. They did not ask me to sign any paperwork, they just sent someone to pick it up. Other than the auto loan, I have some student loans that are paid on time and two credit cards that are both paid on time. I've decided that filing for bankruptcy is not the best option. I am thinking of going to an auction with about $4000 and trying to find a reliable car there. Do you guys know anything about public auto auctions?
  2. Advice needed ASAP. I currently have an open auto loan for a 04 Dodge Intrepid through Credit Acceptance. The car no longer runs; the head gasket is blown and it isn't worth it to spend the large amount of money to fix it. I am upside down on the loan and behind 3 payments. I spoke with the finance company and they stated that I could do a "voluntary surrender". They would have someone come pick up the car, sell it at an auction and apply the proceeds to the balance. I would then be responsible for paying off the remainder of the loan. My concern is that this is going to show up as a reposession on my credit report. I have been driving a rental car since the car gave out and will need to get a reliable car soon to go to work. My credit is poor right now but I have once secured credit card and a store credit card in good standing. I also have high income. My question is, how badly would this reposession hurt my credit? Would I be able to get an auto loan with this repo on my report? Should I just file for chapter 7 bankruptcy instead letting the car get repo'd? Help!!

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