AprilUnusual
New Member
This is my first time posting, though I’ve been following along for a while. I’m feeling a bit overwhelmed by the situation I’ve created and hoped to find some guidance here. I owned a car free and clear, but I took out a loan against it to purchase a truck and handle some home repairs. That car was recently in an accident, and the insurance payout won’t cover what it’s worth. Now I still owe $12,300 on that loan. I’ll need to find another car—just something reliable—and I’d also like to pay down my credit cards, which I haven’t used in over six months. I reached out to the lienholder, but because I’m self-employed and haven’t filed my taxes yet, they couldn’t offer any options. I’m not sure what my next step should be. My credit has taken a hit since I lost my job around Christmas, and my card issuers weren’t willing to work with me until the debts were close to collections. I do value my credit, and I recognize I’ve made some unwise choices. Any thoughts or suggestions would be really welcome. I’ve considered debt consolidation but am uncertain. Securing a vehicle is essential for me to work, and right now I just feel stuck—I kno w I put myself in this position.