Possible long read.
If you don't have a good credit score, please do everything in your power to get it fixed asap. The things I saw today were mind boggling.
So I text my homegirl and her brother this morning about the phone bill that just got released. It's them, her husband and oldest daughter. It was coming out high cuz my boy just jumped on plus he wanted a case and his activation fee. Then her and her husband, my boy also, just upgraded to iPhone 7s so that was more on their portion for activation fees and higher device payment.
So I go to her crib later this evening when I get off work to hang out and calculate the bill. I only pay like $65 a month with device payment, line access, taxes and data. Thanks to a 20% discount thru my job. So we figure out everyone's total and start talking finances.
She had mentioned her car and that she still owes 10,000 on it. She got it thru carmax, but said that feels like a mistake now..She had gotten it about six months before I got mine and it was an older car, a 2009. She's had it for 4.5 years and pays 450 a month. She's already paid over 24,000 and her man was saying the car price was 20,000. I was like
. Before that I was on her computer on the car website chatting with a rep. I asked her what the interest rate was since my friend couldn't find it anywhere and the rep said, something like 23%.
it looks like she still got more than two years of payments. Paying off a car when it's already ten years old and will likely need a new one. Wow.
The car is worth thru kbb not even $4,000. Her credit score is in the low 500s. I did the math on her and she's paying $2400 a month on car, insurance, and rent. 1800 on a three bedroom. Plus she has three kids with two of them being one and two. She makes decent money at her job, around 40k, and he makes not much but something. But still, they in a hole so deep that who knows when they'll be able to get out. I think he said his score was a bit better but not too good.
This is why you guys gotta be careful when you apply for any loans and make sure your credit score is on point. Not worth paying such a ridiculous interest rate on a vehicle. Thank God I'm almost paid off on my car and have a decent rate plus am smart about my credit score. Her whole financial situation had me like
the entire time.
Good shyt
Same shyt happened to me somebody ran up 1000 at honey baked ham
