[Jennifer]

I need advice on the least harmful way to handle a situation, please.

I was downsized about a year ago.

I haven’t found a comparable job yet.

I’m even working at a restaurant to try to make ends meet.

I’ve exhausted my emergency fund.

I’m three months behind on my car payment.

My credit score has slipped from 750 to barely over 600.

I am still upside down on the car (bought the only one I could find during the pandemic for an inflated sticker price because I HAD to have a car and the dealer lied and said they weren’t adding pandemic pricing.)

A local dealer will buy it but I would have to write a check for $5000 and I don’t have it.

Honda Finance won’t take any less than what’s owed.

They’d rather repo than get most of it with a payment plan for the rest. ( I tried.)

Of course I wish I could have paid cash in the beginning but I couldn’t, so does anyone have any idea of anything else I could try to avoid ruining my credit?

Thanks

[Tony]

You haven’t really provided much context about your life/finances outside of losing your job and making ends meet with your car, so additional info would be helpful.

It’s a bit confusing as in other posts during the pandemic you posted about *selling* a car, having a paid off house, and moving overseas.

Since you own, could you take on a housemate or two to offset bills?

I have a housemate who covers half my mortgage and home expenses.

Do you have family you can lean on for a loan?

In the short term, you can: Donate plasma, Uber/Uber Eats, Lyft, Doordash, Grubhub, etc.

I’ve done most of these and it’s quick and easy money.

These are also things you can set up in the next day or two or sooner and be driving/doing by the end of the week and fit in around the rest of your schedule.

If you have credit card miles/points you could look to cash those in to cover current credit card bills or ‘pay yourself back’ options.

In the middle-term you can look at selling non essential items on FB marketplace and cutting back on subscriptions.

[Heidi]

I don’t have any advice. Having gone through a divorce and been low-income since, I understand this.

Everyone always says to cut out things, which I agree with, but also, it just gets so wearying.

Hang in there! Wish I had advice but I don’t and I will be needing a car soon.

Currently have no a/c/heat and telling myself it’s better than a car payment because it is!

[Erin]

You said you take care of your dad. Do you live in a state where they will pay you to do that?

Sounds weird, I know but my family member in NM made money caring for her mother.

It’s government assistance for home health care or like non medical assistance.

I’m not up on all the terms.

But maybe taking care of your dad can be another source of income

[Van]

did u shop insurance since you said it just doubled? Geico, USAA if eligible, insurance brokers…

[Theresa]

I don’t know at what point they will repo, so I don’t know how much time you have, but what do your other expenses look like?

Can you cancel streaming services, cut internet, get a roommate, slash groceries, etc to free up some cash flow?

Any ability to pick up a 3rd job or more hours at the restaurant?

If you’ve got student loans, see if they’ll approve a temporary forbearance so you can get ahead elsewhere?

[Author]

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