I'm in real trouble here; my credit is absolute crap (in the low 500s) but it's because I got laid off from a six-figure salaried job in 2024, two months after I bought my house (my first ever home). I also finally brought my wife over to the States about a month earlier. Due to me having lost my job that time, I was seriously behind on credit card payments, which caused my credit score to plummet; my credit score when I bought my home was around 725, by the way. I was out of a job for close to six months; during then, I was also two months behind on my mortgage. I ended up selling my vintage Rolex just to make my mortgage that I was two months behind on 😭.
Anyway, I finally found a new job in Sept. 2024, but had to take a $25k per year paycut. My property taxes also went up twice, so since then I've been struggling to pay off my credit cards and my car note. I already dipped into my 401k to help with credit cards and my mortgage, but I don't want to do that again.
To make matters worse, my car just got repoed and I'm desperate to get it back. They're telling me that if I pay $17k they'll release my car and I'll have the title in my hands. Problem is that I don't have $17k and I'm thinking of getting a loan. What can I do? With my crappy credit score I can't find a loan other than predatory ones with sky-high interest... I do have a close friend with a mid-800 credit score that is willing to co-sign with me. Through whom can I get a loan? It's the only car I have and my wife doesn't drive; she doesn't have her license yet and is afraid to learn how to drive.