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Txgirl

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Everything posted by Txgirl

  1. I’m in Texas and took out private student loans they went into repayment in 2009 (ish). One of them stayed with the original bank and I made payments every month for 5-6 years. They finally issued a 1099-c but we were insolvent. So the other private student loans we will get collection letters for whatever debt collector that they assigned to collect. On the back of the statement it clearly says they the debt has passed the SOL to sue or report on credit report.
  2. Wow! I’m in Texas and took out private student loans they went into repayment in 2009 (ish). One of them stayed with the original bank and I made payments every month for 5-6 years. They finally issued a 1099-c but we were insolvent. So the other private student loans we will get collection letters for whatever debt collector that they assigned to collect. On the back of the statement it clearly says they the debt has passed the SOL to sue or report on credit report. I would definitely figure out who took out these loans!
  3. I apologize. Cancellation of Debt and was issued a 1099-C. Provided documentation to my accountant and we were considered insolvent. Our liabilities exceeded our assets. According to the letter from the creditor it stated that after they issued the 1099-c then there was nothing further between us and the creditor. It fell off of my credit report many years ago. I’m assuming (and hope I’m right) that it would not hinder anything while we are refinancing our home. We have 750 credit scores and no late or bad reporting on our CR. Just didn’t know how this would work and if it doesn’t even matter about the 1099-c. thanks
  4. In the process of re-financing our house. Had a debt discharged and was issued a 1099-C. claimed insolvency didn’t have to pay any taxes on it for my 2019 taxes. I live in Texas so it dropped of my credit report many years ago so we don’t have anything bad on our credit reports. The mortgage company wants all the pages of my tax return. On my schedule 1 it shows $0 for the debt being discharged but to refer to the page that shows this dissolved debt. is this going to hurt me?
  5. We were sued and hired an attorney who stated the SOL was like that of a credit card. Day before court the lawyer suing decided not to pursue any further. I get letters a few times a year from different debt collector agencies with a settlement amount and a disclosure stating that due to the age of the loans they can not sue me or report to the credit agencies.
  6. Awesome info! I’m confused though.... You have to show that you are unable to work but within the 3 years after the discharge you can make employment wages for the amount of a family of 2 within your states poverty level. So can you work after they are discharged?
  7. 👆 is what they do. Is call them and just inquire. We are right under $10k left and hubby’s score is 750 and mine 730 compared to what it was previously...650’s.
  8. Check out the income based repayment plan.
  9. This is awesome! My husband is a state employee and has about 2 years left of the 10!
  10. We are using Greenpath and it’s been great! Started off with about $50k and down to $11k in debt
  11. Thanks! Its a more local one so Ill call and ask. I know people say debt management companies are bad and there might be ones. However weve had nothing but good luck with it all. Our score took a hit initially but we have the highest scores weve ever had now and my husband was able to get an auto loan at 3% interest rate.
  12. Thank you!!! Its been tough but I can finally see the light at the end of the tunnel! Can I remove him as a AU even if the account is closed? The 771 is his experian fico. Its from experian not CK. Yes those are small balances!!! I might see about paying off the smaller cards. Once we do that via the debt management company they put those monthly payments towards the next card to pay off. Since we have $11k left I wasnt sure if it would be beneficial to get a loan to pay them all off and just pay the credit union.
  13. Weve been in the program 3.5 years so no maxed out cards. There have been a few payed off cards. These are the balances currently with the cards is his name or authorized user Sears 294/$2,000 WellsFargo 400/$1,500 Cap 1 $1,200/$2,000 AU Cap 1 $1,800/$3,000 US Bank $650/$2,500 Cant remember if hes primary or AU Mortgage- current Federal student loan- current Walmart $400/$2,500 Walmart $400/$2,500 AU Car loan- current Target- $1,800/$3,600 not in program but current The remainder of the total would be a few cards Im primary on...again none maxed. He has no late payments. Just wanting to see if getting a loan at a lower rate would pay the total off sooner!
  14. We have our credit cards in a debt management program. We are in our last year with a total balance of about $11k. Hubby's Experian credit score is 771. No late payments or accounts in collections. Credit usage is high at 53%. His yearly income is $50k Even though most of the accounts have lower interest rates I was wondering if maybe we could get a loan and pay off through the credit union. A few of the cards are still at 14% or 20% but some as low as 2% or 5%. We current pay $925 a month. Whats the likelihood of getting a loan to pay if off with the stats I listed above?
  15. They can and will garnish your wages and income tax refund without notice. Your best bet is to try and get it rehabbed or payment plan to pay it off. I believe after 7 years it drops off your credit report but federal student loans have no statue of limitations.
  16. Private student loans are nearly impossible to get discharged in a bankruptcy case. Once you role your federal with your private you loose everything related to it. Can they rehab the federal? Ask for a forbearance or income based repayment plan? Sorry to inform your coworker that those private student loans are stuck with them. Are they in default of the private? Once you go the bankruptcy route they would be considered in default and the balance is accelerated and due in full. Good luck to them but it wont work unfortunately. Wish it did Id had done it to get rid of my mine and my husbands.
  17. We went with GreenPath for our credit card debt. We have paid about $30k in 3 years and have about $12k and should be done next year this time. Our payments have never been late we were just getting overwhelmed paying just the minimums. Initially our scores took a hit...low to mid 600s because once you are in the program the creditor closes the account. My husband and and I are up to the 740 and even got an auto loan for 3%!!!! Greenpath works with the creditor and lowers the interest rate. They dont hold onto money its sent monthly to each creditor.
  18. We went with GreenPath for our credit card debt. We have paid about $30k in 3 years and have about $12k and should be done next year this time. Our payments have never been late we were just getting overwhelmed paying just the minimums. Initially our scores took a hit...low to mid 600s because once you are in the program the creditor closes the account. My husband and and I are up to the 740 and even got an auto loan for 3%!!!! Greenpath works with the creditor and lowers the interest rate. They dont hold onto money its sent monthly to each creditor. It was very, very important for me to the accounts to stay in good standing other than them closing them. We pay almost $1k a month and cant wait to have that money back!
  19. I'm aware of the federal repercussions, and the yes loans they are going after are private student loans. However, I didn't realize there is no rehab option for private loans. That changes a lot for me. Thank you. I did send them a DV though.Yay it sucks...no rehab. If they are federal then you can rehab one time only. You mentioned they offset your federal tax return refund correct? Private student loans can not and do not do this. That is why Im a little confused?! You mentioned they were trying for wage garnishment? That sounds like federal. I dealt with that CA as well as one time. They sent letters and called and then my loans were assigned to another CA. Mine were private student loans. If you don't mind me asking, who was the jdb they sold it to (simms?), and what came of it? Sent from my LG-M150 using Tapatalk It went to several different ones after the one mentioned. Eventually my husband and I (we both have private) were sued in court. Mine was filed and went back and forth and finally dropped because the attorney stopped responding and was found to have committed fraudulent collection tactics. For my husband we ended up hiring an attorney and the plaintiff dropped the case. They are now WAY past the sol for TX. My husband still has one that reverted back to the OC and Ive been sending $25 money order every month for the past 9 years
  20. I'm aware of the federal repercussions, and the yes loans they are going after are private student loans. However, I didn't realize there is no rehab option for private loans. That changes a lot for me. Thank you. I did send them a DV though.Yay it sucks...no rehab. If they are federal then you can rehab one time only. You mentioned they offset your federal tax return refund correct? Private student loans can not and do not do this. That is why Im a little confused?! You mentioned they were trying for wage garnishment? That sounds like federal. I dealt with that CA as well as one time. They sent letters and called and then my loans were assigned to another CA. Mine were private student loans.
  21. So these are private student loans? If so there is no rehab option for private. For federal they can garnish wages and tax refunds without a judgement. You can only rehab federal student loans one time.
  22. Thanks for the info! Probably around $1500. Ours is heading towards dying so making sure I have all my options covered.
  23. Thanks! I dont have a citi in the program but hubby does!
  24. Looking at Home Depot or Best Buy. What do they look for? Have 730 credit score high usage and about a year left in debt management program. No lates or bad TL. Id have hubby apply he has higher score, less usage and year left in debt management program but he has a sears card in program. No lates or bad TL. Looking for getting for just a few months and itll get paid off...possibly need new fridge.
  25. Fantastic! Nice work. I know it's a long haul but it will be worth it in the end. Thank you! We had never been late on our bills it was just overwhelming with almost 40k of credit card debt. I think we have learned our lesson. We were even able to purchase a car a few months ago while on the program with a very low interest rate. (We weren't looking for a new car but mine died and it wasn't worth putting several thousands into an older vehicle that may die again soon) We went in with what we wanted to pay and walked out with the amount we wanted!)

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