General Credit Topics

[motoracer]

 I totally agree with bowsd

[destinyschild]

After reviewing the debt and income he determined that I could pay the debts and would not give me any relief from creditors. But, in all truth I was in way over my head.

[Boswd]

huh,   are any circumstances different now income wise than 2 years ago?   You mentioned you're in school.   Were you in school with the same job two years ago?

[destinyschild]

Well about three years ago  I had several investment properties with tenants who skipped out on their lease within two weeks of each other. This left me with three house payments totaling about $2,500 a month. I also had two car payments, my wife and my own, totaling $1,100 a month. I sustained myself for almost a year on savings but in the meanwhile I lost all rental properties and my wife's car was repossessed. I was 22 years old when I filed BK.

I am currently in school pursuing my Masters and plan to go straight through to get my PhD. That will take another three years and by that time some of those negative will begin to fall off.

I am really trying to make the best of a bad situation but don't know what to do...

[Boswd]

You can try to apply again, some things are different.   If you can't, the one you have to focus on to get some sort of settlement is the $30,000 one.   It's way to large where BofA will sue without blinking an eye.   You should maybe look for a reputable financial counsler or  debt attorney.

[Noah_Bodie]

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destinyschild wrote:

I filed BK two years ago but the judge dismissed my case so I am stuck with the bad effects and the debt. What do I do??? 

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Did you file BK7 or BK13? And did you do it yourself or use an attorney?

[Noah_Bodie]

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destinyschild wrote:

I had several investment properties with tenants who skipped out on their lease within two weeks of each other.

...

I lost all rental properties and my wife's car was repossessed.

...

I am currently in school pursuing my Masters and plan to go straight through to get my PhD.

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So in addition to the other negatives, you have a repo and foreclosures? Or did you get the homes sold before foreclosure?

You really need to give BK some consideration, and if you decide to do it use an attorney.

There's some REALLY good reading about BK over on CIC. Links to links external to CIC. I'm going to bounce them off Tuscani and see if I can post them here.

[Noah_Bodie]

Here are some BK links with good reading on the subject if you're considering it.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=17383

[dog]

you should call a bk lawyer and try  again....sounds like you are in much worse shape than you were back in the day.  this might be a situation where bk is better than trying to fix it all.  i am not a big fan of bk, but sometimes it is necessary.