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Hi again Scott; Problem. I have Two Auto Loans, With Two Separate Credit Unions. They tell me both are Cross-calateralized With each Credit-card debts. Meaning Used as secuity. Is this legal,in your view? Because, they both say they will not deal with any Debt Settlement companys. Rather they will Reposse Both Auto’s instead. Help Please!

Typically any auto loan a bank gives you is secured by the car itself and therefore the car can be repossessed by the bank if you are unable to pay the monthly payments on the loans. You are correct in that debt settlement companies cannot negotiate secured debts, they only work with unsecured debts.