You already know the things you need to do
"..If it did sell, maybe 5k. I was thinking of this as a last resort though (which I'm getting closer to every day).." - BK is your last resort (and I still don't agree that $19k is worth pulling that lever for). Flag this a 2nd to last resort if you're going to hunt for another job. If it doesn't prove successful, then this is your next step. $5k will buy you some breathing space.
"..I've been just trying to cruise by so far with just getting by. I should have been more aggressive." - you recognized it and let it bleed. Nobody is here to judge what you already did, but keep looking forward. YOU own your destiny.
"..and I did have a smaller loan from my main bank TD Bank for 10K at 12% I think it was, but didn't pursue it, as it didn't cover all the costs" -- it's always preferred to truly consolidate all debt, but if it's not an option, paying two payments (that equal less) than the one you're paying now still makes sense. It's just a nuisance, but you're not chasing convenience. The goal is to reduce your monthly payments and get out of debt.
"..I do have more credit across all of my cards. I've just been pretty strict on not using it anymore." -- keep this up!
"..and freeing up the UTI rate if that's what your saying, for the purpose of making my profile better to then get another loan later down the line to replace the first one.." -- yes, that's exactly what I'm saying
"..loan to someone like me if I had one already along with my college debt" -- the core thing a bank will look at is DTI (how much is coming in vs how much needs to go out), but the math used there is not like a mortgage where they factor in daily expenses like food, gas and the other things you originally listed. They will look at how much all your debts require each month minus your income. In your case CC1, CC2, CC3, CC4 (sounds like theres a 4th ghost card), Student Loans and prospective Personal Loan minus $2,000 (I'm also assuming this is your post tax amount, but they'll use your pre-tax amount). If after all the math is done you still have 30% or more left over, you're generally in a good spot. If your profile shows limited debt on credit cards (which banks fully know compound very quickly and can accelerate a problem), then you're adding points to your application. The overall credit score looks healthier and it lends itself to more of an approval. Keep in mind this is all YMMV - we're only talking about you, let alone the state of the market and how generous/reserved banks are at the time you execute all this. However, if you aim for this setup though then you're on the right path.
We're just discussing manipulating your finances to get you some breathing space. A 2nd job and/or selling some of those collectibles is your immediate fix. If you can't get the 2nd loan, then sell at least half of those collectibles - yes you'll have a few less, but you'll be sane enough to appreciate them.
A little from column A, a little from column B and you'll be a little more stress free.
Go get it!
"..If it did sell, maybe 5k. I was thinking of this as a last resort though (which I'm getting closer to every day).." - BK is your last resort (and I still don't agree that $19k is worth pulling that lever for). Flag this a 2nd to last resort if you're going to hunt for another job. If it doesn't prove successful, then this is your next step. $5k will buy you some breathing space.
"..I've been just trying to cruise by so far with just getting by. I should have been more aggressive." - you recognized it and let it bleed. Nobody is here to judge what you already did, but keep looking forward. YOU own your destiny.
"..and I did have a smaller loan from my main bank TD Bank for 10K at 12% I think it was, but didn't pursue it, as it didn't cover all the costs" -- it's always preferred to truly consolidate all debt, but if it's not an option, paying two payments (that equal less) than the one you're paying now still makes sense. It's just a nuisance, but you're not chasing convenience. The goal is to reduce your monthly payments and get out of debt.
"..I do have more credit across all of my cards. I've just been pretty strict on not using it anymore." -- keep this up!
"..and freeing up the UTI rate if that's what your saying, for the purpose of making my profile better to then get another loan later down the line to replace the first one.." -- yes, that's exactly what I'm saying
"..loan to someone like me if I had one already along with my college debt" -- the core thing a bank will look at is DTI (how much is coming in vs how much needs to go out), but the math used there is not like a mortgage where they factor in daily expenses like food, gas and the other things you originally listed. They will look at how much all your debts require each month minus your income. In your case CC1, CC2, CC3, CC4 (sounds like theres a 4th ghost card), Student Loans and prospective Personal Loan minus $2,000 (I'm also assuming this is your post tax amount, but they'll use your pre-tax amount). If after all the math is done you still have 30% or more left over, you're generally in a good spot. If your profile shows limited debt on credit cards (which banks fully know compound very quickly and can accelerate a problem), then you're adding points to your application. The overall credit score looks healthier and it lends itself to more of an approval. Keep in mind this is all YMMV - we're only talking about you, let alone the state of the market and how generous/reserved banks are at the time you execute all this. However, if you aim for this setup though then you're on the right path.
We're just discussing manipulating your finances to get you some breathing space. A 2nd job and/or selling some of those collectibles is your immediate fix. If you can't get the 2nd loan, then sell at least half of those collectibles - yes you'll have a few less, but you'll be sane enough to appreciate them.
A little from column A, a little from column B and you'll be a little more stress free.
Go get it!
@Batsy — “..trading in comfort for hope..” beautifully worded!
