Hi Suzanne- We had an identical situation a several months ago and Loan Committee approved her loan. To date, all is well and she is repaying her loan. She was quite a relieved to reduce her monthly car payment by over $200/mo. It just seemed to make sense. Good luck with your program in Detroit! Anita and Ann in Camden
Anita Corriveau WAYS to WORK Family Loan Program Center for Family Services 584 Benson Street Camden, NJ 08103 856-964-1990 ext. 295 856-964-0242 fax [EMAIL PROTECTED] ---------- Original Message ---------------------------------- From: [EMAIL PROTECTED] Reply-To: [EMAIL PROTECTED] Date: Mon, 8 Sep 2003 15:10:55 -0400 >I had someone call who owes under $4000 on her current car loan and she >wants a WtW loan to pay it off. Her current payment is $426.00/month and >with the WtW loan her payment would be around $180.00. She meets the >initial eligibility requirements and our loan would definently help her. > >Has anyone done a loan to payoff an existing one? If so, has the experience >been a positive one, has the client paid as agreed or did they have trouble >making the WtW payments as well? > >I'd appreciate any input anyone has-thanks. > >Suzanne Reid >Program Coordinator >Ways to Work Detroit Loan Project >(313) 883-8399 > >The above information is intended for the addressee and may contain >information that is privileged, confidential, or otherwise exempt from >disclosure under applicable law. If the reader of this message is not the >intended recipient, you are hereby notified that any dissemination, >distribution or copying of this communication is strictly prohibited. If >you have received this communication in error, please immediatley notify us >by telephone. Thank you. > >
