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caringexecutive t1_iy4xlkb wrote

>I also have a verbal agreement with my ex to support my son $600 a month.

Go to court and get a real child support agreement.

The consolidation handles <50% of your problem and locks you into paying nearly 8 grand a year for 4 years.

You need to strongly consider bankruptcy. I imagine your credit already is not great, but this is high interest debt that's far over your annual income.

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SwpDevil OP t1_iy4y5xl wrote

If I pay $657.85 a month for 48 months, that’s a total of $31,576.80 and if subtract that from $22.102.94 that totals to $9,473.86 extra after 4 years correct?

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caringexecutive t1_iy4yi4h wrote

yes, you're paying nearly 50% in interest over the life of this loan which is insane.

Seriously, with your low income and massive amount of unsecured debt you are a good candidate for bankruptcy.

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SwpDevil OP t1_iy4yccr wrote

Also, the verbal agreement of $600 a month was after she filed for court which was $850 a month.

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caringexecutive t1_iy4yp0j wrote

That's even worse and if you're subverting a bonafied agreement you can both get in trouble if that wasn't accepted by the court.

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SwpDevil OP t1_iy4zxnj wrote

If I stop my investments and focus on one of the unsecure loan to pay it off faster would that help? Because the unsecure loan with a payment of $585 a month will be paid off in 9 months

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caringexecutive t1_iy55fey wrote

No, not really. You have almost $50K of CC/Loan debt and your household income is ~30K a year. You really need to fix your spending for the future and declare bankruptcy, you are a fairly perfect candidate (when your liabilities exceed your income/savings/assets).

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SwpDevil OP t1_iy5549q wrote

Also my credit score is also at 689

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