Re: future morgage after bankrupcy

Learn the best ways to get debt relief and become debt free. Find out the truth about debt consolidation, credit counseling, debt elimination, debt settlement, debt negotiation and bankruptcy. This is the meeting place where people just like you come to share their stories and experiences about how to deal with credit and debts.
Discover what really works and what doesn't before you decide which one is best for you.

Learn about credit counseling, debt consolidation, debt negotiation, debt settlement, debt elimination, and
Get advice, help and support at

[ Follow Ups ] [ Post Followup ] [ ] [ FAQ ]

Posted by: debtfree on 09/18/04:

In Reply to: future morgage after bankrupcy posted by: jade on September 18, 2004 at 00:49:35:

: First, i want to say thank you so much for the responses i received. I felt hopeless and and extremely unable to make a decision, now i feel that there's more hope than i thought possible. By reading my first letter, should i file chapter7 or 11? I will do my research to find out the difference. Should i file at all in my situation i explained in my first letter on Sept 17?

Many places that talk about bankruptcy use as one factor in deciding to file or not is if your debts are more than your yearly income you should file. It really looks like that without a second job you will have a difficult time getting ahead. The final desicion to file of course muct be your own , however one other thing to think about as you very mcuh want your want little place as you put it is that it will be very hard to get any type of loan if you are not even able to pay rent and normal utilities on time because you are robbing Peter to pay Paul in an attempt to try to keep everyone happy.

If you are worried about can you rebuild enough credit in two or three years to look credit worthy to lenders a tip we got from the USDA people here. They can and will use your current land lord and how you paid them, as well as your normal utility bills and if that is all you have that is fine. These are loans to help very low and low income folks get housing they do not expect you to have two or three credit cards, or more, and a car loan ect. ect.

Follow Ups:

Post a Followup

Name    : 
E-Mail  : 

Subject  : Re: Re: future morgage after bankrupcy

Comments:
: : First, i want to say thank you so much for the responses i received. I felt hopeless and and extremely unable to make a decision, now i feel that there's more hope than i thought possible. By reading my first letter, should i file chapter7 or 11? I will do my research to find out the difference. Should i file at all in my situation i explained in my first letter on Sept 17?

: 
: Many places that talk about bankruptcy use as one factor in deciding to file or not is if your debts are more than your yearly income you should file. It really looks like that without a second job you will have a difficult time getting ahead. The final desicion to file of course muct be your own , however one other thing to think about as you very mcuh want your want little place as you put it is that it will be very hard to get any type of loan if you are not even able to pay rent and normal utilities on time because you are robbing Peter to pay Paul in an attempt to try to keep everyone happy. 

: If you are worried about can you rebuild enough credit in two or three years to look credit worthy to lenders a tip we got from the USDA people here. They can and will use your current land lord and how you paid them, as well as your normal utility bills and if that is all you have that is fine. These are loans to help very low and low income folks get housing they do not expect you to have two or three credit cards, or more, and a car loan ect. ect.  




 


Return To