So, my husband and I got WAY ahead of ourselves this past year. We bought a house, and a new car. Not good! He is military and when he gets deployed we have lots more money, but they havent deployed him in over a year…which is good for us, but not money wise. I am tired of the stress, and I would rather just get out of this mess and have my credit go down since its only average anyway. We are going to try and get re-stationed soon anyway..and, then we can start over and not be so ahead of ourselves. We want to start our family soon, and I really need to get things under control first. I found a cheap car…5,000 and it has 90,000 miles on it..pontiac grand am. Its a lot of miles, but its in nice condition. Im wondering if its a good idea to just go finance that car, and do a voluntary repo with my other..Im paying 350 a month..which I cant afford anymore. With the ponitac I would be able to pay it off within one year. My house payment is also going up another 250 because of taxes…?
sorry…i just need some good advice! How much will my credit go down if I do a voluntary repo? And, is it a good idea to get that other car?
We are also putting the house up for sale soon….hopefully we can sell it…