Chapter 13 Updates

[Anonymous]

Good afternoon,

It's been a while since I last posted.  I wanted to come check-in on my peeps that really really really helped me out while filing my chapter 13.  I'm 2 years into my 5 year repayment plan and I have no complaints.  I'm elgible to apply for a home loan, however.. I live in South Florida and with the housing market and economy the way that it is right now... stressed is understatement, it's so hard to save.

I wanted to check in on @JayPaulM29 @Anonymous @Bmac66

@FireMedic1 @Anonymous @pizza1 

I sincerley hope all is well with each of you.  I need to update my sig, everything is mostly the same on my end.  Still driving my 2010 vehicle and maintaing the cards in my signature.  I did add a TD Bank secured card last year.

All of my scores are in the 670's

Hope you're able to respond as our last thread was closed.

[Anonymous]

Hello @Anonymous !

I'm doing well, how are you? As for me, no new updates...kinda. My credit union, Schools Credit Union merged with another credit union so now it's just Schools First Financial Credit Union. I had been a member since 2002 and could never get a credit card from them until last week. I was bored (I know, dangerous!!) and decided to app one of their cards and I was approved for $3,000. Slept on it and jumped on here and read others who app'd both cards with one pull so I figured why not, so I applied for their other card and was only approved for $1,000 but I didn't care. I wanted my foot in the door with my credit union. I have other cards as well (retail stores, Capital One, and Credit One for when I was rebuilding right out of my BK.) My score is low still, 629 but that's ok. My car is almost paid off ($975 left) and I couldn't be more happier but that car is going to my daughter so I will have to purchase another car maybe this year or hopefully next year since she doesn't want to get her license yet (she's 19 *face palm emoji) but I won't complain. 

Congrats on your year 2! It'll fly by before you know it! I agree, the housing market and economy is crazy right now! I keep getting text messages from realtors and whatnot on trying to buy my home. Uhm, sure the equity is nice but where would I live? I can't afford a house with these prices!!   Hopefully the housing market will quiet down soon so that you can purchase a home. And I know it's hard to save, everything is so expensive right now. 

And I just realized you have a Cartier card...never knew they had one. Not that I need one, I probably couldn't get approved for one anyways. LOL. But just a little tiny bit jealous here.

*edit - we talked about my mortgage in another thread back in 2020. My car loan wasn't reporting AFTER my discharge so I had to refi my car loan which was fine. APR dropped from 8 to 3% so I was happy about that. I'm in CA and per my attorney, I couldn't reaffirm my mortgage so even to this day, my mortgage isn't reported on my credit report, which sucks. I tried to refi last year but the lender said I had to wait 2 yrs from discharge or something like that. So I couldn't refi. So only credit mix I have is credit cards and car loan.

[TRC_WA]

Good luck on your journey to completion.    I just got my discharge... for the 2nd time after filing in 2008 and then again in 2017... the first time for extended job loss and the second for trashing my credit with a gambling addiction.

You'll feel even better once  you finish.  Keep up the good work.

[FireMedic1]

@Anonymous Glad things are rolling along. Born in Miami and I see the prices are nuts back home. Apts are out of control even. Central FL is just as bad. But I was able to get a home before the craziness began. Your on your way and it will be here before you know it. Congrats on the moves so far. You'll get there. 4 more yrs and BK free for me. Keep us updated on your journey!

[TRC_WA]

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@FireMedic1 wrote:

Born in Miami and I see the prices are nuts back home. Apts are out of control even. Central FL is just as bad. 

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I can believe it.  I was in WA for 10+ years and went to Orlando last year because I thought the grass would be greener with an overall better COL despite taking a small pay cut.

Ummmm no.  Housing was pretty much the same insanity as it is in WA... only difference is FL jobs pay less.  After 6 months I moved back to WA for a nice pay raise over what I made when I left  and am pretty much making twice what I made in FL.

Saw this today too... Florida is #4... Washington is #50 on the list of highest number of workers making under $15 hr.

Percentage of workers earning less than $15 hr 

Live and learn.

[Anonymous]

What a blast from the past. I used to spend hours and hours reading this and another BK forum when I first went into it but little by little stopped. So I forgot about that thread we had going on.

On my end, nothing much has changed. On Sunday it'll be my 2 years since filing. So still got another 3 to go. Both my wife and I have Self secured cards that have given us unsecured credit raises. We also both have OpenSky secured cards that also have given us unsecured credit raises. We both did the Self builder loans and finished them and got the money back and all that. I don't know where our credit score is but I also don't care much since there's not much I can do with it at the moment.

What I really would have liked to be able to do is refinance the home, since we bought more home than we can afford and that is what led us into BK. But we're stuck with an ever-increasing mortgage that we can't really afford plus the BK payments plus everything else we have to pay. It kinda sucks.

[Lurker22]

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@Anonymous wrote:

I'm in CA and per my attorney, I couldn't reaffirm my mortgage so even to this day, my mortgage isn't reported on my credit report, which sucks. I tried to refi last year but the lender said I had to wait 2 yrs from discharge or something like that. So I couldn't refi. So only credit mix I have is credit cards and car loan.

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I'm currently 6 months from the completion of my 13, last fall I sought approval to refi when rates were stupid low (had zero issues obtaining approval) but the lenders said they wouldn't refi until 2 years from discharge.....ugh oh well - my current rate isn't bad but could have shaved a 1/2 point off and my attorney thought there was a chance the trustee would have grabbed the savings 

[Anonymous]

Ask your lawyer to ask the trustee if you're able to refi, after (2) years with a chapter 13 we are able (trustee must approve) to apply for a home loan, I don't see why you wouldn't be able to, not much of a difference unless your trustee is "not a nice person"

[pizza1]

Hello @Anonymous

Glad to hear you're well, and things are ok here with me too. Glad to see you posting again