My husband and I have been trying to buy a house for 2 years. We both pay our bills on time and make decent money. The problem is that a few years ago he co-signed for a house for his sister. She moved out and quit paying for it and no one informed him until 3 days before it was supposed to foreclose in his name. They said we had to pay ,000 when he only cosigned originally for ,000 or the mortgage company was going to sue. She had put all her credit card debts and her car loan on the mortgage. So he filed bankruptcy to avoid being sued for ,000. Now all debt and credit is in my name which brought down my credit score and he has a bankruptcy on his credit report. We can’t seem to find any bank that will loan us the money to buy a house because they say my debt versus income to not good enough and his name can’t be on the house because of the bankruptcy. What can we do to buy a house?
It’s been 3 years since the bankruptcy. They did try to contact us many times, but they were mailing it to the address that he cosigned for. We lived somewhere else and didn’t know his sister moved out. They finally found us last minute. He had signed when she did refinancing at one time, but he he didn’t realize how much it was for and didn’t think his own sister would screw him over.
The worst part about it is that even with a bankruptcy he still has an awesome credit score and hardly any debt. He always has been very responsible when it comes to paying bills. One lender at our bank knows that we always pay off our loans, but he can’t seem to convince the other guys that don’t know us that they are safe to loan us the money for a house. So some advice to people: don’t ever cosign for anyone. Even if you think you can trust them. It gets honest people like us into a lot of trouble.

Technorati Tags: 3 years, bankruptcy, car loan, credit card debts, credit report, credit score, decent money, last minute, loans, money to buy a house, mortgage company

I have about 25k in credit card debt. Use to be about 9500 but after 10 years they are all judgments and with all the interest and fees its about 25k now. About a year and a half ago i had a really nice job was making decent money. I saved about 9000$ so i can try to pay my debt off. Originally on average i owed about 2500 to each of the credit cards i had. I got all my info together and called each of them to try to set up a plan so i could pay them off. Right now discover says i owe about 7k originally 3k, and city says i owe 6.5k originally 2.4k, washington is now about 4.5k originally 1.8k those 3 are my highest and all three wouldn’t agree for nothing lower then what they say i owe. all others agreed to a very nice settlement. I offered discover 4.5k , city 4k, and Washington about 2.5k to settle. Washington accepted 3k. but city and discover gave me a no and said that if i didn’t have the full amount they would just garnish my checks till its paid in full. At the time i was off work because my back started to give in. I had the doctor take some x rays and she told me that i had to take physical therapy for my back and should stay away from heavy lifting. Which means i cant do my job no more. So now i am unemployed and well luckily i still had that 9k i saved. Well now i am just fed up with them. I already ran out of money and my brothers and sisters are supporting me and i want to just file for bankruptcy and go to school and get my self a degree in business. Does anyone have any advise you can give me. Thanks in advance.

I also forgot to put this in. My brother was going to help me before when i was working he was willing to put in about 3k on top of my 9k so i could get out of debt. But now hes also low on funds and well i just decided to file for bankruptcy and hes willing to help me pay a lawyer for the process.

Also I am not really worried about the credit score part, i have 6 sisters and 3 brothers and well i learned my lesson and i made sure they learned from my mistakes and they are really thankful for my advise about credit cards lol and bank loans. They all have almost perfect credit scores and i had a big hand in getting them there. My sister offered me a position in a business she is opening and all i have to do is go to school for the position. She was actually the one that tried to negotiate with the credit card company’s on my behalf and she just told me to file since they wont accept a settlement.

I just want to see how many options are available for a situation like this. So i am open for any suggestions, advise, ect… from respectful people who can understand the situation. If you want to criticize, go right ahead too lol I want to here all your opinions.

The funniest part about this is they all want to settle now that i have no money. LOL I just think thats really funny.
hehe ya i already knew about that but i am safe from that too because my sister owns about 3 businesses and she is willing to offer me a marketing position. I am really good at it too i have been helping her with allot so i just want to get a degree in that field and go work for her.

Technorati Tags: 10 years, 9k, bankruptcy, brother, brothers and sisters, checks, credit card debt, credit cards, credit score, decent money, heavy lifting, judgments, lawyer, nice job, physical therapy, thanks in advance, x rays

My husband and I were always on time with our bill NEVER a day later had good credit.Then he got laid off.After about 6 months we were still keeping up but was pinching pennies.We had tried getting a home loan and other loans before this when we were making decent money but even with our credit scores being almost 700 still could not get approved.So we sat down and decided that we were going to file bankruptcy to relieve us a little bit until things looked up for us again so we did actually had to let stuff go for a few months before we filed.Now after he was laid off for over a year hes been back to work a few months and we still have a new home in our hopes for the near future.We knew that with filing bankruptcy the odds are against us to get a loan until after it had cleared from our credit report but my question is with the way the economy is loan companies should realize that people are facing tough times and some have no other option that bankruptcy If they would see our history up until that point they could see.Anyway does anyone know of any place that gives loans to people with "bad" credit for home loans these days.We filed in August last year and got our discharge in January this year.Please only answer this question if you have helpful information not if you are going to be judgmental

Technorati Tags: credit report, credit scores, decent money, economy, filing bankruptcy, home loan, home loans, little bit, loan companies, odds, pinching pennies, tough times

Since GM is filing for bankruptcy, I’ve been reading that it’s going to be nationalized only for the "short term." So, I figure they should hopefully make some decent money once the government steps away. What are your opinions?

Technorati Tags: decent money, filing for bankruptcy, gm

WHEN YOU FILE FOR A BANKRUPTCY DO THEY INCLUSE YOUR HOUSEHOLD INCOME OR DO THEY JUST DO IT FOR THE PERSON THAT IS FILING. I MAKE A DECENT MONEY BUT MY WIFE HAS SOME OLD DEBTS OUT THERE AND SHE NOW ONLY WORKS PART TIME. I PAY ALL OF THE BILLS BUT WE HAVE NO EXTRA MONEY TO REALLY TAKE CARE OF HER OLD DEBTS. THEY ARE NOW THREATENING TO GARNISH HER WAGES AND SHE ONLY WORKS PART TIME SO SHE WILL BASICALLY BE WORKING TO JUST PAY THESE DEBTS AND NOT FOR THE EXTRA CASH THAT IS NEEDED?? ANY SUGGESTIONS OR WILL THEY JUST DO THE CHAPTER 7 FOR MY WIFE??

Technorati Tags: bankruptcy, chapter 7, debts, decent money, extra cash, extra money, household income, part time, wages

My nephew is a young guy who has K in debt – student loans, credit cards. They’ve went to collections and he wants to file for bankruptcy. He has a stable job, makes decent money but is tired of the collector calls.

I told him declaring bankruptcy would only makes things worse for 7-10 years and beyond, but he wants to throw in the towel because of the collector phone calls. I told him that it IS possible to negotiate with them but he doesn’t believe me.

How can I talk him out of filing bankruptcy?

Technorati Tags: 10 years, collections, credit cards, decent money, declaring bankruptcy, filing bankruptcy, nephew, stable job, student loans