First step: QUIT SPENDING MONEY!
It is preferable to just quit spending money that you obviously don't have if you are this deeply involved in a scenario because you are leaking money. Creditors will stop lending you money if you start spending money that you don't have.
Follow the money in step two.
Keep track of your spending patterns. Add up your earnings. Log it. Take a look at your spending patterns. You need should display a sizable amount of cash in the bank if you ceased spending it. Based on your necessary spending, create a budget. Make an effort to determine your daily, weekly, monthly, and yearly budgets. Once you've done that, you should check to determine if your monthly revenue is larger than or equal to your monthly expenses. If it isn't, you'll need to either boost your income or cut your expenses. Both are preferable.
Build a small nest egg and settle debt in step three.
Once you start receiving some more cash each month, save some and utilise some of it to make a debt payment. You will soon have some cash set aside for emergencies and a history of paying off debt as you proceed in this direction. Additionally, it's in your best interests to get in touch with your creditors and ask them if they would be open to working out a monthly payment plan with you so as to prevent your credit from being severely impacted.
Build a downpayment in step four.
Start saving for a down payment as soon as you have a reserve of three to six months' worth of expenses. Your target should now be between $2k and $3k. When you reach this amount, you ought to be able to get most car varieties.
Step 5: For your first vehicle, BE REALISTIC
Always keep in mind that you must find someone who will loan you money. You might not immediately enter your ideal vehicle. You'll need to strengthen. When you have a solid history with auto loans, banks are more likely to assist you when you want to improve your automobiles. Ensure that the instalments you agree to are lower than the sum you are setting aside for your down payment before you commit to them. If not, you will be back in your predicament and find yourself unable to pay all of your creditors. Although you will initially pay a high interest rate, keep in mind that this is only a temporary situation. Once you have paid off your loan and other debt, you will be eligible for lower rates, although it may take some time.
This is a relatively straightforward plan. Most individuals don't appear to be able to grasp it. Most people who attempt to adhere to this strategy eventually ""need"" to take a trip or ""need"" to purchase the cool item that was on display. It takes time to get back to the point where someone will be prepared to take a chance on you when you are as awful as some of the customers who have come into the vehicle dealership. Realistically, take these actions if that describes you. Long-term, it will only be advantageous to you.""" - https://www.affordablecebu.com/