I'm looking for some advice for a friend of mine. He helped his sister out by putting his name on her lease and getting a car loan for her in his name. That's what happened, let's focus on moving forward. Mistakes get made.
She got evicted. An agreement was made that if she paid $200 a month of a $4000 balance it wouldn't hit his credit score.
Then she lost her job. Now she can't make the apartment balance payments or the car payments. He has taken the car back from her so right now he has 2 cars and 2 loans.
So the current situation is as follows: -Car 1, Durango, 33k left on loan with $650 payments - This car is pretty new so most depreciated asset compared to loan. -Car 2, Tucson, 18k left on loan with $550 payments - worth about 12-13k blue book -Apartment Eviction Debt, $200 payments on 4K
I feel like some sort of combination of selling the Tucson and somehow combining all these debts into one is the right move here. Any advice is appreciated, thanks.
Submitted November 17, 2017 at 10:10AM by linkcloud http://ift.tt/2zbXnFC
