New Member
Posts: 2
Registered: ‎04-30-2010
Re: Bankruptcy FAQs

Thanks beamMEup.  Lots of good information.  It seems  unfair that if the bankruptcy did not go through the credit bureaus can still report it for 10 years.  When the collection calls became incessant I bit the bullet and mortgaged my house to the hilt in order to satisfy my creditors.  My house would have been paid for in a couple of years.  Now I have a 30 year mortgage again!  I do not have any Visa, MC, Amex etc.  Only 2 store cards and 2 gas company cards.  Should I try for a major cc? 


I currently have scores in the 700's, mid is 729.  I want to look into refinancing my house to lower my interest rate and get out of an ARM.  I've been in this for 3 years and am now past the penalty phase.


I also have a child in college and will need to co-sign on loans.  We tried CITI and they turned us down. That's why this whole thing started trying to get my report cleaned up.  With the decline in housing prices my LTV is not too good so I won't be able to take on more debt to cover the tuition.


Any suggestions would be appreciated.