[eveboal]

I can't afford my carpayment due to a work lay off... what do I do? Is there anything that I can do that won't have a negative effect on my credit?

[CaptainRich]

I can't afford my carpayment due to a work lay off... what do I do? Is there anything that I can do that won't have a negative effect on my credit?

First, I'm sorry you are laid off. Have you looked for different work?

You can contact the institution that holds your lien and see if they are willing to take interest only (if you can meet that amount) until you are gainfully employed again (soon I hope).
If not, you have the option of selling the vehicle and paying off the loan. I wouldn't recommend a voluntary repossesion, except as a last resort. That will likely create a negative mark unless your leinholder agrees. They usually don't like to buy the vehicles that they were once collecting interest on.
I hope this helps.

[Fr_Chuck]

If you don't make a payment there is nothing you can do that will stop it from having a negative effect. Unless as noted you sell it and pay off the note