Major Debit and need advice

[BOOST]

I thought they changed the bankrupt laws and you are still on the hook for the loot. I closed chase today and they put me at zero percent, they were actually pretty decent about vs the last time I called them, maybe many people are feeling the squeeze. American express has 2 options, hardship program which sucks, 9.9% or a settlement, I am waiting for a settlement and a program. It just sucks I will loose my amex and never get one again, I have been with them for 20 years. I never heard of a mortgage company cutting a better deal?? I will hit them next.

[Lift_Heavy_NY]

I thought they changed the bankrupt laws and you are still on the hook for the loot. I closed chase today and they put me at zero percent, they were actually pretty decent about vs the last time I called them, maybe many people are feeling the squeeze. American express has 2 options, hardship program which sucks, 9.9% or a settlement, I am waiting for a settlement and a program. It just sucks I will loose my amex and never get one again, I have been with them for 20 years. I never heard of a mortgage company cutting a better deal?? I will hit them next.

No garnishments or anything, sorry to say I go to court on the 20th to finalize mine. Got laid offf this winter and couldnt make credit card payments, they raised my cards to 29+% and wouldnt work with me to get it down. Now they dont get shit. As far as cuttting a deal (if you were speaking to me) I was referring to CC's. You would be surprised, you get CC's back right away, high % rates, but pretty easy to restore credit, plus theres people that can help get your credit back fast, Im speaking to one in 3 weeks. Honestly though, your this much in debt, why are you so worried about your Amex card for....stack cash and spend that. Believe me, youlll respect your money more when you have to break in to your stash of cash to by stuff, swiping a card is to easy....shit they make it that way. It becomes a desease for some. One thing you wont get though is a morgage after a bankrupcy, shit they will barely give you one now with a 100G in the bank.

[B.E.N.]

One thing you wont get though is a morgage after a bankrupcy, shit they will barely give you one now with a 100G in the bank.

Negatory.

Wait 12 months. Begin establishing trade lines (secured CC) immediately after BK. FHA mortgage with decent interest rate.

Until they made the BK laws tougher their was no reason to pay off your CC once you went so far in debt.

Of course you see how easy it was for CC companies to have the BK laws changed. The power of lobbyists. Them and Sallie Mae (student loans) which you can 99.99999% of the time NEVER walk away from and you can't tell me the $ does not speak loudly in DC.

[Lift_Heavy_NY]

^^I know you can rebuild your dredit, but right now its real tough to get a morgage, atleast here in NY. They want 25% down as a minimum, almost half of that ina savings also and great credit. So, after a bankrupcy you wont have great credit for a pretty long while, so I still stand behind mycomment about not being able to get a morgage. Because morgage companies were giving loans so easy in the past is why the big banks have fallen, the goverment wont make that mistake again, Greenspan said it himself.

[B.E.N.]

^^I know you can rebuild your dredit, but right now its real tough to get a morgage, atleast here in NY. They want 25% down as a minimum, almost half of that ina savings also and great credit. So, after a bankrupcy you wont have great credit for a pretty long while, so I still stand behind mycomment about not being able to get a morgage. Because morgage companies were giving loans so easy in the past is why the big banks have fallen, the goverment wont make that mistake again, Greenspan said it himself.

FHA. 97.75% Loan-to-Value Then you can ask the seller to pay up to 6% seller concessions and get 3% of your closings costs paid by Down Payment Assistance Programs. So NO...you do not need 25% down.

FHA exists in every county in every state (including NY!).

The only reason he would have to wait 12 months after his BK is because that is an FHA guideline. Sounds like he is keeping up fairly well now. Declare BK (don't include the house and mortgage!) and keep paying your bills until your attorney tells you all accounts are frozen and can no longer be declared late. Come out of the BK check your credit and make sure everything that should be included in the BK reports as such. Go to your bank, deposit $1,000, and open up a secured credit card against the money. Use it each month and pay it back in full each month. Continue to monitor your credit every 4-5 months. After 12 months is up go see a mortgage company that is FHA approved.

Then send me my consultant fee!!!!

[Lift_Heavy_NY]

FHA. 97.75% Loan-to-Value Then you can ask the seller to pay up to 6% seller concessions and get 3% of your closings costs paid by Down Payment Assistance Programs. So NO...you do not need 25% down.

FHA exists in every county in every state (including NY!).

The only reason he would have to wait 12 months after his BK is because that is an FHA guideline. Sounds like he is keeping up fairly well now. Declare BK (don't include the house and mortgage!) and keep paying your bills until your attorney tells you all accounts are frozen and can no longer be declared late. Come out of the BK check your credit and make sure everything that should be included in the BK reports as such. Go to your bank, deposit $1,000, and open up a secured credit card against the money. Use it each month and pay it back in full each month. Continue to monitor your credit every 4-5 months. After 12 months is up go see a mortgage company that is FHA approved.

Then send me my consultant fee!!!!

LOL Ive done all of the above , already spoken to many people my friend, next is the secure credit card (sadly Ive done that when I was younger once already). Honestly I would be shocked about the morgage, my own lawyer told me 2 years, but Ive had friends try recently without BK try to get morgages and were denied. Im not going to argue with you, but I dont think a year later will be soon enough for banks that are on the brink of going under because of none payment on so many morgages to lend recently BK borrower $400G. Maybe in the future I will speak to you about some ideas, but Ill only trade you training and diet advice for your time, going to be tight with my money from here on in.