Not sure where to begin? Help!

[Anonymous]

I will add here that you don’t want to just ignore the CapOne debt - they will sue you to obtain judgment and garnishment if possible. Doing what was stated and approaching them for a payoff plan is the right move.

Regarding the PRA collection, definitely settle that and take care of it. They will delete it once it’s handled, for full amount or less as stated above.

Also, I would sit down with your husband and let him know what’s going on. Hiding money issues rarely works well and most people have a financial skeleton or two lying around. My guess is he will be interested in you clearing these as well - it only stands to benefit your entire household in the long run.

[ACN323]

ImTheDevil, yes was just reading about Capital One suing someone. Gave me such anxiety last night and this morning thinking about it. I will for sure sit down and spill the beans. Just a lot of guilt due to the fact that I'm not contributing financially. I know being at home with our kids until they can both be in school is equally important and contributing, but I've always worked prior to having our children, so I myself just feel like I have the lower hand now that I'm at home and can't work at the moment, to repay my own debt. I know it shouldn't be looked at that way, my husband is pretty understanding, but it's just another one of those "really?" moments I want to avoid. Thanks for your advice and I will for sure sit down with him, sooner than later.

[Anonymous]

Excellent. I think it’ll go better than you’re fearing. As you said, contributing to the family is more than just financial and I’m sure he knows that. What’s good for the family is something that anyone will embrace. My wife had those same thoughts awhile ago because she makes about half what I make and felt she wasn’t holding up her end of the deal. What she realized after we discussed it many times, and I hope you also realize, is that it’s a partnership. You contribute in your way, he does in his, and the household moves forward. It doesn’t have to be financially equal or even financial at all. At my house, we have a joint account, both paychecks go in, and WE pay OUR bills out of OUR money, not me paying from mine and she from hers. It’s anazingly refreshing to get that mindset and stick with it

[ACN323]

Agree, 100%. Great dynamic you guys have! Hoping in the future with two incomes we can go that route with joint finances. Also, thank you, child rearing has been more intense, but also more fulfilling than anything I've done previously in life 😜 I know my kids will look back and be thankful I was there. Hopefully! Appreciate your understanding and kind words!

[Anonymous]

You can count on that about your kids. I have three (15, 14, and 8) and it’s definitely a handful, but when you’re as fully invested in something as you are in your kids, you refuse to fail. It’s not easy but parenthood is the most difficult job that I’d never quit.

Have that chat - I think you’ll come out of it relieves and with a plan to move your profile forward and to the positive. All the best to you

[Jannelo]

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@Anonymous wrote:
Hello Jannelo,
I saw your post about using cap one auto with your fico score. Did you need a downpayment? Im currently rebuilding, im at 650 fico and one 5 yr old settled auto charge off
Thank you

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Katy1,  I can't remember if it required me to have a down payment when I pre-qualified.  For the pre-qual I don't think it did.   But I always planned to have a down payment.  Once they pre-qualified me and you are now on their Navigator site, when you click on a car, you pick the terms as far as how long of a car payment you want and the price, and it tells you what your interest rate is.   You can build a lot of loans on different cars and save them as you figure out which cars you want to go look at.  You input there your down payment or no down payment.  If it isn't acceptable, they will let you know this offer isn't good.  I think the only terms I had in the pre-qual acceptence was I had to have a loan over $4,000.  There may have been a cap to the loan of $35,000 or so.   I don't remember.  I knew I was never going that high, so it didn't matter.  It really depends on the size of the loan you are going for and your income, etc., I would imagine, as to whether they require a down payment.   I don't think I needed a down payment on the size loan I got, but I never tried to build a loan without a down payment on the estimate box on their Navigator site when I was looking at different cars.   So I don't know.