I'm mid-40s and was making $100k a year until I lost my job - what should I do with the $25k in car loans I have?
Briefly

from 24/7 Wall St.1 month ago
A Reddit user who previously enjoyed a stable $100K income finds herself in financial difficulty after a job loss, accumulating a $25K car loan in the process. As she contemplates selling her home to become debt-free, high mortgage rates present a complex challenge. Currently receiving a paycheck again, the user must navigate her options carefully to address her debts. While selling her home could theoretically enable her to pay off the loan and move to a more affordable place, the reality of the housing market may complicate her plans, making it difficult to reduce overall expenses.
The Reddit user, originally on a path to financial fitness, now considers selling her home after job loss and accruing a $25K car loan debt.
24/7 Wall St.https://247wallst.com/personal-finance/2025/02/24/im-mid-40s-and-was-making-100k-a-year-until-i-lost-my-job-what-should-i-do-with-the-25k-in-car-loans-i-have/
Shifting priorities is critical; selling a house might help pay off debt, but the current high mortgage rates could render this option less beneficial.
24/7 Wall St.https://247wallst.com/personal-finance/2025/02/24/im-mid-40s-and-was-making-100k-a-year-until-i-lost-my-job-what-should-i-do-with-the-25k-in-car-loans-i-have/
Read at 24/7 Wall St.
#personal-finance #debt-management #mortgage-rates #job-loss #financial-planning
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