Good to know Booner72. Thank you.
I am attempting to work it out with the creditor. I don't have $2300 right now to pay them. I am trying to negotiate a settlement asap to see how low they will go. It will show as settled, not paid in full, but I don't see a way around paying the full amount any time soon. They rejected my 10% offer and asked me to come back with a reasonable offer or they can set up monthly payments. I sent a 20% offer out today. Their first response came back so quicky I feel I have a tiny bit of wiggle room to go back and forth.
I am willing but hesitant to add a monthly payment to them. I can offer $100 a month if they are willing to accept. I am just concerned about DTI. I am currently at 36%. I have been told USDA goes to 41%. Adding that extra $100 right now will bring me up to 40%. And I am concerned they won't accept a $100 offer.
I will be getting a small raise in June and am hoping for child support to be raised next month as well (ex is starting new job). With the raise I am not expecting it to affect DTI by more than 1%. But still, my optimistic side said even 1% is better than nothing. Hopefully, fingers crossed, the child support increase will push that higher.
So I have a lot to figure out in the next month or two to hopefully get an app into USDA by July or August.
