Thank You For Your Continued Comments RE Discharge and how it affects your credit rating.
I am in my 50s and owe less than $5,000 in loans from graduate school. The thing that most concerns me is what I am reading is how this could affect my credit score. I have worked hard to achieve my score (800s) - the only debt I have (other than the student loan) is my mortgage and credit cards (the credit cards = about $15,000, all from medical bills.... I had both heart and brain surgery last year.... my medical bills exceeded $200,000 - loopholes from the insurance company and the need for a private nurse at home following brain surgery wasn't covered).
There is no way I can live in my current home, so I plan to sell my place and move to Florida which is 28% less for cost of living and housing is 56% less. All things being equal (this will depend upon the Presidential election, if there is another housing bubble burst or recession), I should be able to sell my place and after closing costs be able to put between 25% - 30% down on a cheaper place in Florida. I won't have a luxury lifestyle, but will be able to live within my SSDI monthly check.
(NOTE: I had Long Term Disability through a private insurance company from my former employer which paid 60% of my former salary - while Social Security declared me totally disabled, they declared me as "recovered" and discontinued payments. I am appealing their decision - a lengthy process.)
What is killing me are the stories about how the discharges are ruining credit scores/histories. Mine are pristine. It appears once these appear on the three CB reports it will take considerable amount of work and time to have the reports corrected so if the scores are lowered, they can readjust which will be necessary for the purchase of a new condo.
My disability is neurological in nature and it is hard to process new information and instructions (when I downsized last year to adjust for the lower income from my LTD payments and bought my current condo, my real estate agent and mortgage broker had to explain and walk me through each document).
Could you organize the process you went through in an orderly step-by-step fashion with phone numbers and documents I should use and gather for each step (rather than narrative form)? It would help greatly. As of now, reading your many posts, I don't understand what I should be doing or when. When I got the letter from Disability Discharge it was nine pages - I couldn't understand it. I called their number and a CSR explained to me the simple form to complete (check two boxes and sign). This was the same with the Social Security application process. It is very difficult to explain to others the nature of this disability and how I process information - but to have things but in an orderly fashion: A, B, C, or 1, 2, 3.... helps greatly.
I know this is a lot to ask, but I'm certain there are others would appreciate having the process outlined in this manner - particularly those with neurologic disorders or tramatic brain injuries.
Thank You
