I want to preface by say I am painfully recovering from an abusive relationship credit wise and financially. I have a foreclosure on my credit because I literally had to pack up and go in order to get away from constant emotional manipulation. I tried to save my credit but at the end of the day I had to get out of there.
I have a truck that I really need to get rid of and credit card debt.
The auto loan is 25k at 9% min payment of $482. The credit card is 12.8k at 10% minimum payment of $250.
If I get a debt consolidation loan for 25k and pay the truck off, then sell my truck (worth roughly 10-14k), and put that towards my credit card and then use my savings to pay credit card off, would it be worth it?
I know I should be worried about interest rates but I really need to keep my head above water right now and cut monthly costs. Any and all advice is appreciated!
Submitted July 13, 2020 at 08:07PM by fakidontknkw https://ift.tt/2CwTyNU
