I have personal debt and business debt. My wife and I both have leased cars. We are 28 years old, rent a condo, and have a storage unit. We just had a baby. She makes about 45,000 p/year and I make about 25,000 p/year. (my business isn’t doing well) My credit score is around 640 and my wife’s credit is around 700.
My car payment is $50 p/month with a $14,000 buyout right now. About 7 months in a 3 year lease. (i had a lot of equity in my trade in car and decided to get a lease b/c it was going to significantly lower my monthly payment.)
My wife’s car payment is $333 p/month with a $31,000 buyout. About 3 months in a 3 year lease.
Insurance for cars – $270 p/month
Rent – $1,100 p/month
Storage – $110 p/month
- $358 @ 6.74%
- $4,135 @ 10.24%
- $17,800 @ 14.24%
- $935 @ 15.24%
- $29,210 @ 27.24%
- $25,000 @ 3%
I’m not too sure where to start… We have to do something soon! I think I gave you all of the info I could find about our situation. Thank you for all of your time and help!
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.New Baby, Personal Debt, Business Debt and Need a Plan to Get Out of Debt. - Matt by Steve Rhode