A: Unfortunately, it is impossible to answer this question in a public forum like this because a detailed analysis of your financial situation - income, expenses, assets, and debts - will be required. You do not want to expose that kind of personal information on a public forum. I can say in very general terms that OneMain is typically very generous with "refinance" options to lower payments on loans. Depending upon the term of the loan refinance offered, that may not be very smart. You can wait until the debt goes to a collection agency and work out a payment plan. That will hurt your credit because the collection account will show as a negative for 7+ years even if you stick to the payment plan on time and pay it off. You could also consult with a qualified NONPROFIT consumer credit counseling your area such as Family Service of the Piedmont. Nothing beats a personal consultation with an attorney over asking for specifics like this in a public, online forum that can be read by anyone - including your OneMain loan officer who might recognize you by anything specific you post on here. I'm not critical of you asking the question, but surely you must understand this forum has its limitations. We are only allowed to givegenral advice here.
A: This will have a negative effect on your credit. You can try to voluntarily surrender the car. OneMain is NOT required to take the car in satisfaction of the loan. They can refuse to come pick up the car or take the car. They also don't have to release the lien on the title if they refuse to take the car. Instead, they will report your account as delinquent to the credit bureaus and eventually "charge off" the unpaid balance. Even if they do take the car, they will sell it and if the sale price is not high enough to pay off the loan, you are still responsible for the unpaid balance of the loan. They can sue you and get a judgment for the balance including all of the late fees and added interest. The end result is you will owe a much larger balance and have possession of a car that you can't sell. Even if they do not sue and get a judgment, the negative remarks will remain on your credit report for about 7 and a half years. If you are having financial problems and can no longer afford to make the loan payment, you should have a consultation with a local consumer bankruptcy attorney. He or she will explain all of your options - non bankuptcy options and bankruptcy options. Many offer free consultations.
A: You are asking a hypothetical question. Typically a property management company would not submit this kind of thing to a credit bureau until after you move out because they would simply take the fee out of your security deposit.
Assuming that the landlord reports a debt of $35 plus late fee to a credit bureau, or any collection amount, you have the right to file a dispute with the credit bureau. Send in your written dispute with all of your proof to the address shown on the credit report for mailing in a dispute. Do NOT submit the dispute online. Save a copy of the letter and all attachments and send the letter certified mail with a tracking number you can look up the tracking online. Print and keep a copy of the tracking. The credit bureau then asks the proeprty management company to validate/verify the information. If the property management company verifies the debt is legitimate, the credit bureau will note that you dispute the account, but the report will remain. The only way the report will be completely removed is if the property management company fails to respond to the request for validation/verification or of the management company chooses to remove it.