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I’m 25 years old, I have an auto and a student loan, and gained over 10,000$ in credit card debt over 2 months. I need help.


I had about 2-3k in credit card debt before November, which was not great but I always paid them on time and before the minimum. My credit has always hung around right before “Good” and in the high end of “Fair”. In addition to my credit card debts I have an auto loan that I pay on time monthly for $160 a month and student loans for 317$ a month. I pay $400 a month for rent and pay for electric, internet, and auto insurance on TWO vehicles (one I own and do not make payments on anymore). I also have medical debts from a past surgery (less that 300$ at this point) that I am trying to pay off still.

In November my partners dog got very very sick and almost died. I am the only one who had any credit to speak of and credit cards to bail us out of the situation and save our dog. I do not regret saving her life but I have a residing bitterness overt the 10k in debt I took onto my name so suddenly because now I am DROWNING. I do not want to get into the relationship aspect of this, but let’s just assume that I am alone, these financial issues are mine, and that any hope of bailing out will be me and me alone. My current partner has no credit, no cards, no bank account and I am absorbing this debt completely. It is frustrating. My credit is absolutely tanked. I am having trouble keeping up with the bills. I have now missed several in the past couple of months and have become back logged. I have put things off like my medical and electric bills.

With a current standing of 44k in debt, and an annual income <25k. WHAT can I do? I have considered filing for bankruptcy but the only thing holding me back is that my dad cosigned on my car loan. He has excellent credit and I do not want to hurt it. S.O.S Tl;Dr I absorbed over 10k in additional debt between November-December and took my credit from Fair to Poor. Now I have 44k in debt and I absolutely cannot stay afloat. Help me


Someone answered:

and an annual income <25k. WHAT can I do?

Standard answers.

Make more money. Get a second (or third) job.

Cut expenses. Some examples:

dad cosigned on my car loan

How much do you owe and what is it worth? Probably makes sense to sell this car.

auto insurance on TWO vehicles

At the very least, sell one of the cars to reduce your auto insurance. If the car is being used by your partner, tell them they can buy the car from you if they'd like to keep using it.

and student loans for 317$ a month

What do you owe in student loans? FYI, these are not going away in bankruptcy.

Someone answered:

Not to get judgy, but is there a good reason your partner doesn't work?

It seems like you have quite a cross to bear and it is breeding resentment, which is very unhealthy.

Someone answered:

I don't have helpful advice, but I've been around long enough to know that to help, people will probably want a complete rundown of your income and expenses, to see if anything can be lower.

It sounds like your partner isn't working if they don't have a bank account, you absorbed their vet bills and pay two car insurances. Supporting two people on that low an income must be pretty difficult. If you're okay with that, I trust you know the situation better than I do, but be ready for a lot of questions about it in the comments.