He Owes $23,615 on a Car Worth Far Less, Has No Insurance After Two Years of Lapsed Coverage, Is 109 Days Past Due, and Just Started a New Job That Might Be Enough to Save It If He Can Get Organized Fast Enough
He’s 33, financially disorganized for most of his adult life, and now trying to fix things before circumstances get worse. His 2021 Civic loan started at $23,939 with a monthly payment of $504 at 14.6% APR. Over two years and four months, he’s paid $1,338 toward the actual principal and $6,474 toward interest. The current…