pay my payments ford????????

You guys are pretty smart.  Answer this.  If ford or gm wants to pay my car payments after I lose my job how many point does my fico drop??? Normally a repo or 8-9 month past due amounts dropes it by 80-140 pts.
just curious.  thinking about all the poor folks out of work a year ago and got repo'ed or gave their car up

I don't know the answer to your question. Is the govt not making your car pmt for you? They are for me. And my house pmt too. It's almost like magic. Elections have consequences baby.

I'm still having to buy my own gas and pay my own electricity bills though. That isreally teh suxor. Maybe this next stimulus package will fix that one.

HOW DID YOU WORK THAT OUT? JUST CURIOUS

Sorry dude. I forgot that sarcasm sometimes in indetectable over the innertubes. I was being sarcastic in the extreme. Not that the original poster deserved a sarcastic answer as his question was legitimate. I was evidently feeling my oats that day. I'm still paying $648 per month on my morgtage and a combined $1010 per month on two automobiles. And I fully expect to even as others are having theirs refinanced at my expense. Being honest is a fool's game in this age.

My thoughts on how Ford is doing it (just a guess).  Say you want a new Ford Focus for example.  Someone will come in there and pay $14,000. cash out the door.  If you come in there and get financing you will pay $15,500. with an interest rate of 7-10%.  They may ask for a 20-30% downpayment and have a loan payment for 5 years.  If you lose your job in say 6 months, they will make the payments for 6 months.  But after than you are on your own.  If they take it back...they take it back...But they got your 20% down.  I think the 6 months is in written into the price.  Brian

Thats how they get their number and I see that.  I'am confused on how the FICO score is affected on the car company "pay my debt plan" vs I lost my job 1 yr ago and havent paid a pymt in 6 m os.  My Fico score would have dropped big time .  Today u either have cash or  are begging for a 750+ FICO.  The x'ers need a good fico.  Seniors 65+ dont need fico period.  They're into usage not ownership yes?
thanks for the post Brian

Ford buys an insurance policy from an insurance company to pay the premiums if the "cause of loss" is met.  Since your loan is not defaulted on because of the insurance payments it should not affect your FICO score at all.  It is no different from you purchasing the life and disability coverage from your bank when you get a loan.

an AUTO  LOAN CDS just what we all need again.  Kinda like PMI insurance - were did the premiums go, and the payout reserves go?
I wish I had CDS's on all my debts covering income loss, death, dying, or just plan "i dont wanna to pay anymore" protection.  I gotta get me some of that????????????????
I did a post on this some time ago - should've been a R&R post
But I feel sick and tired of the "to big to fail" thinking while I consider my business to big to fail - need some govt cash
good post