Credit is Terrible
Question: Due to a divorce and then severe depression I have let my not to awfully bad credit rating fall into the to terrible to mention catagory. Im barely surviving paycheck to paycheck and am about to get my car repoed. Im totally upside down on the loan owing twice what it is worth..My question is since I my credit is already shot should I let them reposess the car?? And if I do will I be able to get another? Any help on this matter would be greatly appreciated.
Answer: Well, Kelley it looks like it’s time to pick yourseslf up, dust yourself off, and start all over again.
You don’t mention what your work status is, but most people can get a second job doing something (anything). I suggest that you look in the paper and find a second job that will provide the money to start paying off your debts.
Do you have anything that you can sell (or pawn) to come up with the money to pay your car payment? Oh, look! a computer!!!! Chances are you have a tv and a stereo and a microwave and probably a lot of other junk lying around that could make your car payment for you. At least it will keep you from losing the car until your paycheck comes in from your second job.
Now, call your loal chapeter of CCCS (non-profit credit agency), and make an appointment to come in and get a budget figured out so you can pay everybody back what you owe them and get your credit back on line.
Work at it, my boy. Apply yourself and you will succeed.
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Filed under: Bad Credit Loan
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