unable to refinance car loan due to debts?

Question

ok here goes, i purchased a car from a dealership and was financed through them, they told me they tried other companies and i was denied ,or the intrest was much higher due to not only my credit but the unpaid debts i have. i had previously paid off a car loan and the bankrupsy on my credit will be removed soon, my intrest rate is 23% and i have not been able to refinance due to debts on my credit. Problem is If i continue to pay such a high premium am unable to clean up my credit. doesn't seem to fair. I am trying to clean up my credit, but at the same time I have found noone that will refinance me so i could, it's like I can't afford the car payment now, so we won't refinance until the credit is better. catch 22 i guess any ideas. payments are always on time. i can't afford to keep the car, but can't afford to sell and still owe.????

Answer 1

The only way to win the "credit score game" is not to play in the first place. Anyone who tells you differently is trying to sell you something. Your previous bankruptcy should tell you a little about how banks, lenders, and the credit industry in general does business. They want you to make them rich by going into debt and buying things that you just cannot afford.
Sell the car for as much as you can and buy a good used car with cash. When you get tired of that car, save up some more money and buy a better car.
Shred your credit cards and get on a good, WRITTEN budget. Use cash to pay for everything. There are no shortcuts out of your dilemma. Just hard work and sacrifice.

Answer 2

1

Answer 3

Sell the car. One debt down. Payoff what you owe on that car. Negative equity doesn't get better fast. Buy a beater car that you can pay cash on. Save money on insurance (liability only)

Payoff those "unpaid debts".

Stop being the chump of creditors. They know you will stay behind because you don't want to make the tough choices. 23% interest is the rate chumps pay.