What should I do with my debt situation?? Car destroyed and thousands still owed?

Question

I am an idiot. I allowed my ex boyfriend to use the CRAP out of me.. for a year I paid all his debts and my own - his rent and mine, his cell phone and mine, his food and mine and my childrens.. he was jobless for almost a year so I literally had to pay for everything. he got me evicted from fighting with my neighbors and so having to live in hotels and being homeless I racked up almost 8k in credit card debt. He refuses to help me pay any. He borrowed my car and refused to return it for a YEAR. I just got it back last week and its destroyed. Window broken, transmission blown, disgusting. It blue books at barely 3k and I owe 5k. I can't find a debt consolidator that will add the car & cards on one payment. I feel like just going to collections for all of it and just letting the car get re-po'd >=( What should I do?! I can't afford all of this by myself :( HELP!

? · Answer

Debt consolidation does not help your situation, you don't get out of debt by borrowing more money. To get some relief maybe you can take him to small claims court for the damage he did to the car. as far as the other things you paid for him, you are out of luck, no judge would believe you told him you had to be paid back.  If you let the car get repoed they will sell it, and you will then be on the hook for the difference between what you owe and what they sell it for.  in that condition it might fetch  500.00   If you paid his rent and bills and your for a year, you must have a decent job.  Pay the car payment, then pay as much as you can on the CC to get it paid off.  Going to collections will result in a judgment against you and then they can garnish your wages.  Do you think that is better ?
Get more hours at work, get a second job, reduce expenses and dig yourself out of this hole, hopefully you will never do this again,  good luck

Barkley · Answer

Debt management solutions that work in time: increase your income, reduce expenses or eliminate expenses.
Do Not seek yet another debt or Loan in hopes of paying off what you already owe.

Be honest & direct with any collectors. They can't take what you don't have! When you have No Assets, you are "judgment proof". Keep working to move forward.

larrybud2004 · Answer

0. Dump him.
1. Sue him
2. Get a 2nd job
3. Reduce your spending in other areas of your life.

I know 5k sounds like a lot, but you could work 20 weeks, 20 hours a week, making $10/hr.

What should I do with my debt situation?? Car destroyed and thousands still owed?

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