What is her capacity to pay another loan? Is she current with the current loan or in default?
> -----Original Message----- > From: [EMAIL PROTECTED] [SMTP:[EMAIL PROTECTED] > Sent: Wednesday, March 12, 2003 2:06 PM > To: [EMAIL PROTECTED] > Subject: Re: [WTW] Blown engine > > I have a borrwower that has only had her car about 4 months and the engine > blew. The original purchase amount was only $2200. I found a engine > mechanic that will replace the engine with a 6 month guarantee for about > $1000 and we could give her a car repair loan. The car is sitting at a > garage about 18 miles from here. I have spoken with the borrower several > times regarding options. Without an engine the best she may get is around > $500. > Have any of you been faced with this delema and how did you handle it. I > don't seem to be getting much of a response from her because she has too > many people giving her advice. Do I just repossess it and sell it to a > junk yard? What a difficult situation. The good news is. The longer the > program goes on the more I learn about cars! > Carolyn in Danbury
