We, namely my boyfriend, have way too much debt and low credit. What do we do?
You would think my bf and I would be well off. He brings in nearly 5k a month and I bring 2k a month. We currently live in Anaheim, CA. Unfortunately... we made a lot of bad choices. I am not currently paying any off my loans to help him pay his off, so my credit is trashed. I have roughly 20k in debt (12k is school debt which might be forgiven as I qualify).
His debt:
- 500/month child support
- 1.2k/month car payments
- 500/month in other debt payments
- 500/month in medical bills
On top of this, he also acquired a mass amount of debt in child support as we were both unemployed for a while. So he owes a bit under 4k. They have started garnering his wages.
In his field of work, if you have too much debt - they fire you. We desperately want to get rid of the car for something cheaper way cheaper but the dealership isn't offering any solutions.
Currently 2.4k is going to motel/hotels a month. We want an actual place but don't know what to do in regards to me, because my credit auto-denies us. Can I list myself after he gets approved since it is his salary that is supporting rent? I am a contract worker so my income is too sporadic to actually count anyway. His credit is just below 600 and mine is just above 500.
Mainly, we just don't want him to get fired for having too many loans so the car is the main issue because we simply cannot afford it.
EDIT: Finally figured out how to edit. No, I am not leaving my boyfriend. This is a thread for financial advice. Please stop offering me relationship advice. Even if I were to "leave" I have nowhere to go. Not everyone has a family willing to take them in guys. I am on my own.
Other info: I am self-employeed through Rover. My normal career is in the vet field as a veterinary assistant. So I'd normally make 1.5-2k more. However, my job history is a nightmare because it took me a long time to figure out what I wanted to do, on top of moving a lot.
The main reason I made this post was of my boyfriend's security clearance. He cannot have too much debt or they will fire him. This is why I need help. I don't care that either of us have debt. Just don't want him to lose him job.
Submitted October 23, 2023 at 06:46PM by Pathfinder_Kat https://ift.tt/Fge6SyI
