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Follow on Google News | “Automobile Loan Modification does not damage your Credit Score”, explains ARGThere is an indirect relation between Loan Modification and Credit Score. People who qualify for a loan modification are those who do not have enough money to pay their existing auto loans.
By: Anthony Tribunella “It is a common perception among people that going for an auto loan modification has a negative impact on the credit score card. Loan modification service is provided for car owners who are struggling to pay their payments on time and have a fear of having their vehicle repossessed. It is true that if your vehicle is repossessed, there is a negative impact on your credit score which can last up to 7 years. However, loan modification is a service which is to assist vehicle owners to save their car from repossession. In no way they can harm your credit score. It helps in modifying your loan amount, interest rate and term extension. A loan modification service provider is a mediator between you and your bank/ auto dealer to come to a friendly decision with lowered payments for the vehicle owner”, says Anthony Tribunella, Director of Operations at Auto Relief Group. “It is obvious that banks, auto dealers, lenders and other lending financial institutions will have the fear of getting their money back from the vehicle owners. Surprisingly, banks try to avoid repossession as there are chances of bad debts because they have to resell the vehicle to someone else. They do not want to take the pain of searching a worthy buyer and hence agree to modification terms helping the owners keep their car”, informs Anthony. Hence, loan modification only helps avoiding repossession thus protecting you from the ill-effects of repossession on credit score card. ARG is nation’s leading auto loan modifier. It acts as a third party between you and your bank, renegotiate debt amounts, interest rates and monthly payments. About Auto Relief Group: Auto Relief Group was founded to help customers deal with their auto loan payments in time of need. Over the years each member of their team has developed a stellar reputation, and industry connections, allowing the company to quickly identify opportunities and act to assist the clients in their efforts to reduce their payment and keep their car, SUV or truck. For more information on Auto Relief Group and its scope of services, Visit: http://www.autoreliefgroup.com/ Contact: 877.216.7203 877-259-3559 877 842-7667 autoreliefgroup@ # # # Auto Relief Group was founded to help customers deal with their auto loan payments in time of need. Over the years each member of their team has developed a stellar reputation, and industry connections, allowing the company to quickly identify opportunities and act to assist the clients in their efforts to reduce their payment and keep their car, SUV or truck. End
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