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Well I'm a loan officer but not for cars but here's my take, if at all possible try to sell the harley outright because they hold their value if taken good care of and he can possibly get most of his money to pay that loan off without taking too bad of a hit. I would then consider depending on what type of car he has trading it in on a smaller more economical car for a lower payment, even if he is "upside down" maybe he could afford a lower payment if he downgrades the type of vehicle he has. If at all else fails I know we give deferments on our loans for people who are in the service to buy more time to pay. If none of these things work then at least take them back to the lender and wait and see what your bottom line is to have to repay after the auctions, then attempt to work out a reasonable amount to pay each month and be on time with your payment as this will help with your credit repair. I hate to say it but if they are only willing to give him a month at this point he must really be past due already and should have addressed this sooner, unfortunately I see that all the time people hope it will all go away like a bad dream. What they don't realize is that waiting is the worst mistake they can make! Tell your friend good luck hope this helps.
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