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    North Carolina
  1. Ok. I have a unique situation. I filed Chapter 13 in June 2013 and it was discharged in June 2016. We have a very rough two years since then and we are filing another Chapter 13 in a few weeks. Add to that we have two daughters in college next year. They have gotten a bit of scholarship money, but they need another $5000 each. We make too much money for any grants. I read that having a Chapter 13 discharge doesn’t count as adverse action when applying for a PLUS loan. Only if you have a Chapter 7, 11 or 12. My trustee is not going to approve me taking out another loan after just filing bankruptcy again. So now I’m facing getting approved for a PLUS loan but not being able to get permission from bankruptcy court to take it. What can I do? I looked over my credit report and the only derogatory mark on it is the Chapter 13 bankruptcy. I would like to just be denied the PLUS loan. Then the girls would be eligible for addition unsubsidized loans in their names, but it’s looking unlikely. I’m desperate here. Any ideas would be welcome. Thanks! Muggle Sent from my iPad using Tapatalk
  2. I have a couple of credit cards now. I owe like $2000 on them and have a little over $10k available credit. We have a paid off vehicle that we were given a buy quote of $7k for at Carnax. We use this vehicle, but if worse comes to worse...... We came out of the bankruptcy relatively well. Our debts are the $2k in credit cards, $30k in student loans (payment is $200/month), a $252 car loan and our mortgage. I haven't spoken with the mortgage company yet. It's Chase so I imagine I'll have to call the corporate office or something. We could pay off the loan in a maximum of 3 years. I would try to send extra every month if possible. Sent from my iPad using Tapatalk
  3. Thanks everyone. You've given me a lot to think about. We are going to sit down this weekend and try to come up with a plan. Our options aren't great, as you can see. I've never been a landlord, but my father has and it was a headache. People don't take care of your house the way you do, and he had a couple of renters that he had to run down to get the rent every month. Then they stopped paying and he had to evict them. It took him 8 months to get the courts to make them leave. And of course, he never got compensated for that. So to say that I'm wary of being a landlord is an understatement. That said, the house is in excellent shape right now. In the city I'm moving to, this house would easily cost more like $160-170k. A friend at work just bought a house comparable to the one we own and that's what she paid. Our city is just in a horrible housing slump. If I could somehow move the house, I would do it in a minute. Lol. We've been working the new jobs for about five months now and we like the jobs. It's just such a hassle with the living arrangements. Sent from my iPhone using Tapatalk
  4. Okay. I see what you're saying. Yeah. I would do that. I would have to start making a payment on the loan but I don't have a problem taking the loan proceeds and applying it to the mortgage. That's where it will end up anyway. I'm hoping to sell soon if we can get the price low enough. The commute is killing us. Sent from my iPhone using Tapatalk
  5. No. The $20k is the amount we think we're going to lose on the house. We bought the house for $123k five years ago. We owe $108 on it now. The houses in my neighborhood have been selling for around 110k. Add that it's a buyers market around here and almost always the seller has to pay the buyers closing costs and it starts running in some money. The realtor commission would be $6600 and add in $5000 for closing costs and another $5000 for a local septic system fee every house has to pay. Our realtor told us we'd probably be on the hook for that too. So I'm ballparking it at $20,000 total costs. Does that make sense? Our credit scores are 690 and 695 if that helps. We gross around $80k a year between the two of us. Sent from my iPhone using Tapatalk
  6. Okay. My husband and I have both been relocated to jobs that are roughly an hour and a half commute one way from our home. We have our house up for sale and intend to move. However, the housing market in our area is horrible and we're going to end up losing a lot of money just to sell this house. Where would be a good place to look for a personal loan to cover some of the amount we're going to have to bring to closing when we sell? We estimate we will need approx $20k. We have around $5k saved up. So we would need a loan for $15k. We're fresh out of Chapter 13 too, so that makes it much harder. We just got discharged this past summer. We both have decent jobs. With the house payment,our dti is about 35%. Without its around 16%. Any suggestions? Sent from my iPhone using Tapatalk
  7. Just an update on this thread. I googled local used cars and found a couple I was interested in. I went to my local Nissan dealership and looked over the car. I like it but I was worried about the interest rate. They ran my credit and I was able to get a Used 2012 Nissan Sentra with 37,000 miles on it for a little over $11,000 at 5.99%! I'm so excited. I just got my discharge 5 days ago! Thanks for the advice everyone!! Sent from my iPad using Tapatalk
  8. Thanks everyone! I'll let you know how it goes in a couple of months! Sent from my iPad using Tapatalk Thanks everyone! I'll let you know how it goes in a couple of months! Sent from my iPad using Tapatalk
  9. I'm thinking I would be able to put down around $2,000.
  10. We are two payments from completing our chapter 13 payment plan. We are going to need a new car fairly soon. The one we have is seven years old and we have two teenage daughters that need a car also. We are considering buying a new car for us and giving the girls our current car. I'm not sure how long it takes for the discharge paperwork to be issued after we make our last payment, but we're looking for advice on how we should approach the new car purchase. Should we go to a dealership and see what financing they can offer? Should we try to obtain financing beforehand? What kind of interest rates can we expect? Is there anyway to even predict that? It's been more than six years since we bought a car. That one was easy. They gave us 1.9% per year for 60 months. Our credit report is clean except for the bankruptcy. No lates before or since we filed. We filed in 2012, so it's been three years. We have no debt other than a mortgage and regular stuff like utilities and car insurance. We will still have student loans after the discharge. Around $40k worth. I guess I'm just trying to figure out what works best in a situation like mine. Maybe this belongs in the bankruptcy forum? I was thinking since it's a car purchase I might get more feedback here. Sent from my iPad using Tapatalk
  11. I'm sorry. I wasn't posting to get advice or anything. I was just relating how the I had the same thing happen as far as how the op's account payments had been posted unevenly resulting in the accounts being sent to collections. I apologize if I caused confusion. My situation has long been resolved. Again, I didn't mean to highjack a thread. Sent from my iPad using Tapatalk
  12. When I had my first child, I was uninsured. The hospital had several accounts in my name. One for charges for the delivery room, another for charges in the maternity ward, and a couple for my baby. I started making payments of $200 each month. After about six months or so, I get a letter from a collection agency where the hospital had sent part of my debt. I was confused and angry. After speaking to several different reps, we finally figured out that the hospital had been applying my payment to the account with the highest balance only, so the other accounts hadn't had a payment applied in several months, and were sent to collections for non-payment. I wonder if something like this could have happened here? I'd like to be able to tell you that after discovering their mistake the hospital fixed it back, but they didn't. I ended up having to take out a loan to pay them off because they refused to pull back the accounts sent to the collection agency in error. They said they had no way to do that and I was young and naive enough to not fight them on it. Sent from my iPad using Tapatalk
  13. Hmmm. I didn't even consider that. Thanks everyone. I hadn't even thought about the 04 vs 08 factor. Sent from my iPhone using Tapatalk
  14. The percentage if the single card is 25%. And the two FICO reports are from 4/28/2014 and yesterday. Sent from my iPhone using Tapatalk
  15. It's almost like it's counting the inquiry and the removal of an inquiry as two inquiries. It says I have two new inquires. Nothing else has changed. I got a new credit card a couple of months ago. It was reporting when I pulled FICO last time. No new debt. My utilization actually went down a little. Maybe it will bounce back after a month or so. I don't have any plans to need credit for anything, so it's not keeping me from getting credit right now. I just looked at it again and my utilization is now using only one card instead of being on two different cards. Could that have an impact. The utilization is at 8% overall. But now it's all on one account only. Sent from my iPhone using Tapatalk

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