Moderator Emeritus
Posts: 13,355
Registered: ‎12-30-2011
Re: need some outside advice

Welcome to the forums; wish I could help you but I think you may need to seek professional advice on this one.


The big question is whether or not you still have the finances to meet your current financial obligations.  In some respects, if you're not going to use the trailblazer, selling it and throwing the money at the loan principal would save you quite a bit of money over the life of the loan; it won't change your monthly required cash outlay, but you will save a bundle of interest in terms of financial planning for the future.


I think you're likely going to have trouble currently and likely for a year or more getting the car refinanced down to a lower rate.  


There just aren't any golden bullet solutions I see; I would check over in the rebuilding forum, it's possible you can get some of the credit card lates removed via good will letters; that may put you in a better position.


Another alternative is if you have any assets that you can take a loan out against, typically loans you secure yourself against an asset are markedly cheaper interest rate; you may be able to self-refinance that way as well.


If you can't meet your obligations and don't have any asset reserves to draw upon, it may be time to look at a debt management / consolidation program or worse.  Bad situation that, but sounds like you're not in a good one currently from a credit perspective.

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 700, TU 04 731, EX 98 725 (05/24/15)
Goal Score: 700 on EQ 04 (01/01/16)

Take the myFICO Fitness Challenge