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Is there a way to rebuild without spending copious amounts of $$$$?

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Anonymous
Not applicable

Re: Is there a way to rebuild without spending copious amounts of $$$$?

I lived with awful credit for 2 decades with my family. Others will disagree, but I wouldn't focus on it right now because no matter what you do, you're looking at years before your credit will help you get out of your current situation. I would first focus on getting you and your kids to a better area. If you've never been late on your rent, that goes a long way to getting to a new place. You just have to deal with individuals, not rental companies. Find an individual renting their home at an affordable cost in a better area. Tell them your situation - divorce, bad credit, great job, 3 kids. Ask them for a chance. Meet them if there's a nibble. Bring the kids. Be honest. Get a note from your current landlord if you can.

Again, if you wait for your credit to be rent-worthy, it could be a long time.

We were very poor with three kids but we made it with awful credit. It wasn't really anything I did other than try hard, remain on the lookout for opportunities, and pray. Today we live in a very nice house in a very nice neighborhood. I'm finally building me credit to buy a house when my lease is up next June.

 

Like I said, I'm sure most would disagree with my "strategy" but sinking what little extra you have into paying debts while living in a bad area and contemplating eating beans just doesn't seem like the right solution. Perhaps you can start a GoFundMe. Less-worthy "causes" have generated lots of money from the kindness of friends, family, and strangers. Call the campaign something like "Escape the Ghetto." Tell your situation with as much detail as you're comfortable giving. Highlight that you're working hard, doing your best, not blaming anyone but despite your best efforts you need help. Set it at an odd number like $11,700. Share it on social media and post it here so we can help. I'd happily chip in what I can. Reading through this thread, I have no reason to doubt your situation and I would love to help. I'm sure others here would as well.

THEN you could pay off your debts, put up a couple of months rent as a deposit on a nicer place, and keep the kids off the beans.

Message 31 of 34
Anonymous
Not applicable

Re: Is there a way to rebuild without spending copious amounts of $$$$?

I filed bk in 2013.... Score was 4 something. After a few lumps and bumps, I'm only at 550 right now. I was a single mom too living in a terrible neighborhood. I just got married two months ago. But is it at all possible for you to use whatever tax return you get to help pay down some of the debt? That's what I did. I got a secured card while paying some collections and charge offs. My score is getting better. Most rental places here want your score to be 600 or 620. So I also just opened a $500 Horizon Gold card to to help with my utilization. Im actually needing my score to increase soon because my son starts school in the fall and we got to move from here. I don't even want to think about sending him to this neighborhood school. So I get it. With scores under 550, I was able to get a partially secured Capital one, An Opensky card, Two First Progress cards too.
Message 32 of 34
wa3more
Established Contributor

Re: Is there a way to rebuild without spending copious amounts of $$$$?

so OP owes about 3k in total debt ? BK on 3k ?? NO . It will cost, what 1,500 to file ? OP can settle for 30-40% on dollar after CO if money can be borrowed somehow.

 

The math of her situation needs to be fixed - income of 2800 - 3000 in expenses.

 

 

Message 33 of 34
wa3more
Established Contributor

Re: Is there a way to rebuild without spending copious amounts of $$$$?

I also agree with other poster, I don't thing OP can discharge these debts with another CH 7 within 7 year window.

Message 34 of 34
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