What do you think people like my grandma will do for money come the 17th? She uses her social security to make car payments. Me and my dad live with her, and the car is the only car. Do you think the car place will be reasonable or will they just come and take the car away? :(
I'm assuming they'll raise the debt ceiling again so it probably won't matter. If they don't, the answer is I don't really know. Technically the debt ceiling is only a self-imposed limit (it's not like the government is suddenly unable to pay anything) so with benefit payments anything from stopping entirely to partially continuing to no difference could happen.
This is not professional advice, but when the time comes if they know she can't make a payment she or your dad (if he has the authority to) should contact the lender. It's likely they'll try to work something out if it's a short-term (few months) issue, after all they would very much prefer to get their money than to repossess the car and sell it at an auction for much less than its resale value.
This is not professional advice, but when the time comes if they know she can't make a payment she or your dad (if he has the authority to) should contact the lender. It's likely they'll try to work something out if it's a short-term (few months) issue, after all they would very much prefer to get their money than to repossess the car and sell it at an auction for much less than its resale value.
