THANK YOU CREDITBOARDS.COM

[BERNARD]

I've been researching this whole board since last year. I cleaned up all

three of my credit reports. Too make a long story short, I had to file chapter 13 dec of 2000. I wanted a house for my family, so my lawyer

told me I can pay off my trustee early, so I did June of 2002 and we obtain a mortgage and moved into our new home in dec of 2002. The mortgage company here in jersey was great. my wife credit was excellent mines was poor we got 6% interest rate. After we got the house I got the chance to go over my credit report it was a mess. It had sherman acquiston and other misinformation from my chap 13. I then found this board did all the research and cleaned my report up, i whip sherman into submission by contacting the attorney general of there state. 2007 of dec the chapter 13 suppose to come off my credit report. 2003 I was able to get

capital one visa 300

capital one mastercard 500

target 200

providian 1000

household 500

capital one for business 300

my scores are in the mid 600

i have a car note from 2002 im still paying and a pc richards card and mobile card i had for years. the reason i had too file chap 13? I own my owned business at one point in my life. Now i have another in the making.

 

Thank you again creditboards.com

[foshizzle]

Well, I probably didn't help you any, but

 

CONGRATULATIONS!!!

 

I am so glad to hear such a wonderful sucess story as I embark on my own credit journey.

 

Good luck, God bless, and keep us updated.

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And, I hope all the @$$holes who posted today that we're mean and don't have any good information anywhere will read this post! /vent

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[breeze]

Bernard, thanks for the compliments!! I'm so glad you found us, and sooo glad you got your credit back on track!! Good luck with your new business. Join us in the business credit forum. We discuss business and finance there.

[jwebb37]

Bernard, I am kind of in the same situation with the bk13. I will be discharged later this year and I wish I could pay it off early so we could buy a house. I have not talked to my lawyer yet because I figured it would not be possible. I always thought that it might look like you have extra money that could be going into your bk. Let me ask you a question if you don't mind, what was your payback % in your bk13? Also with your house was it an FHA loan or a regular conforming loan? Thanks.

[BERNARD]

IT WAS A FHA AND YOU CAN PAY YOUR TRUSTEE OFF EARLY THERE IS NO PROBLEM IN THAT.

[carriesun]

jwebb37 I am in a ch13 and my payments are suppose to continue until 2006. I talked to my trustee last week about paying it off early and he did not even question how I would be able to do this or how much extra money I had. He gave me the okay to so I plan to pay it off within the next couple of months.

 

Bernard, congrats on this accomplishment, you gave me a promising future to owning my own home after the ch13 mess is over.

[BERNARD]

MY MORTGAGE BROKER ENCOURAGE ME TO DO SO, THEN I TALKED WITH MY LAWYER, THEN THE TRUSTEE GAVE ME AN ESTIMATE OF WHAT I OWED AND I PAYED IT OFF THREE YEARS EARLIER THEN SCHEDULED. IT TAKES ABOUT SIX MONTHS TOO GET YOUR DISCHARGE PAPERS IN THE MAIL. I PAID IT OFF IN JUNE OF 2002, I GOT MY DISCHARGE PAPERS IN NOV 2002 I WAS IN MY HOME DEC 2002, MY MORTGAGE BROKER WORKED VERY CLOSELY WITH MY FAMILY, IT WAS GREAT. DISPITE MY SCREWED UP CREDIT REPORT THEY HIRED AN OUTSIDE AGENCY TO VERIFY THE MISHAPS ON MY CREDIT REPORT THAT MY CHARGE CARDS LISTED WAS INDEED DISCHARGED THROUGH CHAPTER 13 AND WHEN I GOT SETTLED, I READ EVERYTHING ON THIS BOARD AND CLEANED MY REPORT RIGHT UP.

[house hunter]

I also filed a chapter 13 and paid it up a year earlier. I was told in the mortage forum that a chapt 13 filer can only get an FHA loan two years after a chapter 13 discharged. It looks like yours came alot earlier.

 

If you don't mind what are your scores?

 

Mine

TU 668

EQ 669

EX 678

[Ssdflenner]

Congratulations!!

 

It's great to read success stories!!

[BERNARD]

MY SCORES ARE PRESENTLY IN THE MID 600 ACROSS ALL THREE CREDIT REPORTS.

 

TRANS 644

EQUIFAX 628

EXPERIAN 633

[bj]

Bernard, I am kind of in the same situation with the bk13. I will be discharged later this year and I wish I could pay it off early so we could buy a house. I have not talked to my lawyer yet because I figured it would not be possible. I always thought that it might look like you have extra money that could be going into your bk. Let me ask you a question if you don't mind, what was your payback % in your bk13? Also with your house was it an FHA loan or a regular conforming loan? Thanks.

 

I am in GA and in 2002 our Trustee told us that we would have to pay back 100% unless we were at least 36 months into our Ch13. We were 37 months so had to pay however many months were left x our monthly payment amt. Yours could be different, of course.

bj

[BERNARD]

YES BJ THE LAWS IN JERSEY MIGHT BE DIFFERENT OR IT JUST DEPENDS ON THE TRUSTEE. I WAS ONLY WITHIN 18 MONTHS OF MY CHAPTER 13 AND WAS ALLOWED TO PAY IT OFF. I THANK MY MORTGAGE BROKER ALOT BECAUSE HE WOULD CALL MY TRUSTEE AND EXPLAIN I WAS TRIING TO GET A MORTGAGE FOR MY FAMILY. MY MORTGAGE BROKER WAS VERY PERSISTENT. THE PERCENT I THINK I HAD TO PAY WAS 2 - 5 PERCENT BACK

 

I DID NOT HAVE TOO WAIT TWO YEARS AFTER MY CHAPTER 13 DICHARGE IT WAS MORE LIKE SIX MONTHS PRIOR TO MY DISCHARGE WE WERE APPROVED FOR A MORTGAGE ONCE I PAID MY TRUSTEE OFF. JUNE 2002 PAID TRUSTEE DEC 2002 MOVED INTO OUR NEW HOUSE. :8)

 

FHA HOME LOAN

[jwebb37]

Bernard, I am kind of in the same situation with the bk13. I will be discharged later this year and I wish I could pay it off early so we could buy a house. I have not talked to my lawyer yet because I figured it would not be possible. I always thought that it might look like you have extra money that could be going into your bk. Let me ask you a question if you don't mind, what was your payback % in your bk13? Also with your house was it an FHA loan or a regular conforming loan? Thanks.

 

I am in GA and in 2002 our Trustee told us that we would have to pay back 100% unless we were at least 36 months into our Ch13. We were 37 months so had to pay however many months were left x our monthly payment amt. Yours could be different, of course.

bj

 

I am in my 42nd month. I have about 6 months left. I think I owe about 2500 still. It would be great if we could go ahead and pay it off as I would love to be in a house by Xmas.

[bj]

I think that's entirely possible. Just call trustee's office and ask what you have to do to get payoff. I had to write a letter(faxed it). They replied very quickly. My trustee was in Columbus. I paid it off on June 1, but didn't actually get discharge for couple of months. We got loan in July before actual discharge, though.

bj

 

BTW, congratulations Bernard. I have a ways to go on my and DH's score. I just found out about all the inaccuracies on my cr. Thanks to CB, I think I know just what to do to at least get started.

[jwebb37]

I think that's entirely possible. Just call trustee's office and ask what you have to do to get payoff. I had to write a letter(faxed it). They replied very quickly. My trustee was in Columbus. I paid it off on June 1, but didn't actually get discharge for couple of months. We got loan in July before actual discharge, though.

bj

 

BTW, congratulations Bernard. I have a ways to go on my and DH's score. I just found out about all the inaccuracies on my cr. Thanks to CB, I think I know just what to do to at least get started.

 

So the loan officer did not need to see your discharge papers b4 you got your loan? Cool!

[BERNARD]

JWEBB YOUR RIGHT THEY DID NOT ACTUALLY SEE MY DISCHARGE PAPERS, THE MORTGAGE COMPANY JUST CONFIRM I PAID MY TRUSTEE OFF. WHEN I FINALLY RECIEVED MY DISCHARGE PAPERS IN THE MAIL, I SENT MY MORTGAGE BROKER A COPIE. NO SWEAT NO REGRETS

[jwebb37]

That is great news. Thanks for everyones help!

[bj]

I think that's entirely possible. Just call trustee's office and ask what you have to do to get payoff. I had to write a letter(faxed it). They replied very quickly. My trustee was in Columbus. I paid it off on June 1, but didn't actually get discharge for couple of months. We got loan in July before actual discharge, though.

bj

 

BTW, congratulations Bernard. I have a ways to go on my and DH's score. I just found out about all the inaccuracies on my cr. Thanks to CB, I think I know just what to do to at least get started.

 

So the loan officer did not need to see your discharge papers b4 you got your loan? Cool!

 

Actually the lender wrote the check for the ch 13 payoff, so they knew it was paid. We had to pay HIGH interest (9%) but we didn't really have a choice because I had an accident at work and we lost 2/3 of our income. If you can wait til after, you will probably get a much better interest rate. We are right now refinancing, again, just to get a lower rate (7%). Still high but much better than 9%. We hated losing our 6% rate, but had to have some of the equity in the house. Why don't you post over in the mortgage forum and see what some of the experts say over there about your situation?

bj