Ok here's the worst thing: I defaulted on a car loan. I already had bad credit. Capital One financed me for a 2004 jeep with the initial cost being around 18,000. The first year went by fine, no late payments. Second year got sticky had some late payments, then later on in the year got 4 months behind when I left my ex. They took the car back, and then sold it for 6,000 at an auction.
I owed 12,000 when it was sold to one of the credit company things, where they charged me 1,000 a month for each month made without payment. I have been paying now since April 300 a month. Bad thing is, my interest rate take 220 of that payment, and I now owe 16,000.00 on a car I don't have.
They have offered me a settlement of 6,565.00 that I would love to take, I don't have any rich uncles that I could borrow from, so I'd like to take out a loan.
My credit score is now 602 (I've actually been improving it) so what do you think I can do? The 300 a month is going to get old fast seeing as I'm hardly paying anything above the interest. I will take out a 1,000 loan from a loan shark just to improve my credit some more and give me breathing space.
Any loan officers with advice for me? Do personal loans even exist right now? I don't own a house, and I make 26k a year. Even if you know the loan shark information, if their interest rate is lower than 20.9% that'd be helpful!
I bought the car when I was married, and our income was over 50,000 a year lol... I got divorced the next year, sorry if I didn't mention that?
Perhaps actually answering the question instead of meaningless opinions would be helpful in the future.
They are threatening to sue both me and my ex for the 16,000.00 and my ex was actually the primary signer on the vehicle. But I signed a contract with him because this vehicle was for my use and my responsibility. He got a car too, and is still making his payments just fine, I am the problem and I don't want to cause anyone any more trouble.
I owed 12,000 when it was sold to one of the credit company things, where they charged me 1,000 a month for each month made without payment. I have been paying now since April 300 a month. Bad thing is, my interest rate take 220 of that payment, and I now owe 16,000.00 on a car I don't have.
They have offered me a settlement of 6,565.00 that I would love to take, I don't have any rich uncles that I could borrow from, so I'd like to take out a loan.
My credit score is now 602 (I've actually been improving it) so what do you think I can do? The 300 a month is going to get old fast seeing as I'm hardly paying anything above the interest. I will take out a 1,000 loan from a loan shark just to improve my credit some more and give me breathing space.
Any loan officers with advice for me? Do personal loans even exist right now? I don't own a house, and I make 26k a year. Even if you know the loan shark information, if their interest rate is lower than 20.9% that'd be helpful!
I bought the car when I was married, and our income was over 50,000 a year lol... I got divorced the next year, sorry if I didn't mention that?
Perhaps actually answering the question instead of meaningless opinions would be helpful in the future.
They are threatening to sue both me and my ex for the 16,000.00 and my ex was actually the primary signer on the vehicle. But I signed a contract with him because this vehicle was for my use and my responsibility. He got a car too, and is still making his payments just fine, I am the problem and I don't want to cause anyone any more trouble.