Well im in a jam here guys and wondering what i should do well i owe hella money on my credit cards and i need to pay them off and i am jobless. Im debating on if i sshould sell my Exhaust, and my coilovers or just keep trying to look for job while the banks keep calling me?

 

Erm, your credit score is more important than the car any day. Your car can be made fast again once you are more stable financially. Restoring your credit score to a decent state takes YEARS, restoring the car takes a weekend.

Sell the parts.

 

Sell your parts and keep looking for a job

 

+1 credit > ride

 

close ALL your credit cards except for 1 for EMERGENCY ONLY! Then take out a personal load with a local credit union and pay off ALL YOUR CREDIT CARDS. Start looking for a job and sell your parts to pay the monthly payment. Your interest rate would be much lower than the credit cards and it's SIMPLE interest! I helped my friend once in a similar situation and now she has saving, good credit, and debt FREE!!! Good luck!

 

I know it sucks selling your parts, but you gotta do what you gotta do to stay afloat. If you keep a good credit score, you can still buy a fast car later.

 

Hell...sell your car too while you're at it.

Repair your credit then go get a nice car when you're in better financial shape.

 

OR you can get a new credit card with 0% intro rate(the longer the better, typically one year) and transfer balance to new card, so no interest, only need to make minimum payments. Plenty of games you can play to save yoru credit when you're low on cash...Don't consolidate your debt with some creditor type of places. But if that is not an option, definitely sell parts keep credit good, and you can always get bigger better parts. But look for a job ...most important thing...

 

hmmm... Yes, there are plenty of games, but I have to disagree with this method, simply just too dangerous. No offense to you, Vince25RS and lazybummm. But if he is good with number games, he wouldn't be in this situation right now. If he were to do that, could get even deeper than he is right now. Well, everyone has a different way of life, but I would prefer to get rid of the debt instead of 'delaying' it. However, Vince25RS, if you do go this route. Just make sure transferring the balance is still 0% APR. I've seen cases where it's only 0% on new purchase, and limited to certain items. For example, right now Circuti City has 0% no payment no interest until Feb 2007. BUT that only works for certain items (most of the stuff). But some stuff you would still have to pay interest EVERY month from the day of your purchase. And some cases transferring balance would be the same as cash advance and they would charge DAILY interest.

When you 'slip' with credit union, it's simple interest. When you slip with credit card companies, it's compound interest.

Be careful and good luck!

 

Well i decided and thanks im just to stressed off of this so i have to sell them. Thanks you guys for helping me on my choice so they are now on the Nor-Cal Classified


Vince

 

point well taken, I'm a stickler for fine prints and crunching number, and I never carry a balance unless I have a clear specific reason...if I'm profiting relatively big elsewhere from it :P

 

Sell !

 

Can I ask how old you are? Cuz I was in the same situation when I was 19 or 20 and I just got out of debt this month (and I always paid WAY more than the minimum) and that is why I just got my scooby. I have another friend that just claimed bankruptcy because he wanted his toys. I say sell it and do it when you can afford.

 

if the banks are calling you, that might be a sign to sell those parts...