Posts: 11
Registered: ‎09-01-2012
Re: Journey through Chapter 13

I'm so glad to have found other folks in my situation!  I filed Chapter 13 January of 2012.  I had gone through a horrible divorce, had tons of a variety of debt, horrible payment history and 3 figure student loans.  I'm on a 60 month plan.  Everything went into the plan.  It has been wonderful to get control back of my finances and is now much more managable.  I know that when I get discharged I will have the balance of my student loans but that should be about the same amount of a payment as my plan payment is right now.  Also I'm looking into the program for public employees where if they make 10 years of payments the balance is discharged (nbot sure if the plan payments count as 10 years of payments).  It seems when my life was in a spin, I was so vague and just didn't care.  Now I do.  I'm now trying to move forward with the hopes that I'll be able to get a mortgage at some point.  I'm planning to get a secured credit card in the next month as a step to improving my scores to the point that I can get a mortgage.  I read that FHA mortgages can be done with 1 year of Chapter 13 payments.   But I know I need to increase my score.  I'm trying to figure out my credit report and remove anything amiss (the only thing I see is a bunch of open accounts, all but 1 with a balance that were included in my plan but are not showing on my credit report-I don't know how much that will help getting it fixed), but most of it is true-I was horrid at paying my stuff.  I guess I can just move forward and pay my stuff on time, live within my means, etc.  My credit score (I'm not sure which one this is) is 541.  I need 640 for an FHA loan.  I'd like to get it higher.  Baby steps.

Starting Score: 541
Current Score: 599
Goal Score: 640

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