Auto loan delinquencies in the U.S. have reached a 15-year high, with missed payments increasing across borrowers of different ages, incomes, and credit scores, while vehicle repossessions have also risen. The main causes include rising car prices, higher interest rates, monthly car payments that have increased faster than inflation, and growing costs for gas, insurance, and repairs. Subprime borrowers are especially vulnerable, but even higher-income consumers and those with stronger credit are increasingly struggling to keep up with payments. Read more here.

In addition to the resolution suggestions in this article, consider the relief filing a Chapter 13 or Chapter 7 bankruptcy may offer.  Please feel free to contact me for your free consultation.  My cell is 214-288-1917.