My husband & I R trying 2 find the best way 2 clean our credit...?

Question

so we can B in position 2 consider home ownership in @ 3 years tops. We have a combined total debt of @ 20K, which includes @6K I owe 2 my mom 4 helping me through college w/ her credit card over 2005-06. Our monthly, non-negotiable costs are @ $3200. These costs include everything from routine bills 2 groceries & gas 2 $ paid to my moms card so she don't have bad credit & a repo my husband recently reached a disposition on from 10 years ago. All other credit card bills have not been paid on in @ 16-18 months at all. Our monthly income is @ $3600. We also faithfully tithe 10%, so @ 360.00 a month. That leaves $40.00 a month 2 pay toward extra debt. There is nothing I can reduce. We dont have cable, cells, other things that we can live w/o. Can we declare bankruptsy w/ only technically having @ 14K of our own debt? Is it worth it? I dont ever see us getting squared away paying only 40.00 a month. Thats not even 1 monthly payment.

Answer 1

You need to contact a reputable non-profit consumer credit counseling center. Don't be fooled by commercials that say they will lower your bills, they will only help you dig a deeper hole and pocket fees in the process.

The National Foundation for Credit Counseling can help: http://www.nfcc.org/

You can find the agency nearest you by visiting their web site or calling their toll free number. They can negotiate with credit card companies, and help you develop a strategy to reduce debt and come as close as possible to achieving your financial goals, and they won't charge you a penny!

Answer 2

YOUR POSITION IS NOT BAD, REALLY - Don't file bankruptcy. You said that you have pared down all your living expanses to the bone. I do not believe this, are you and your husband living in an apartment?

DO YOU KNOW THAT YOU CAN FIND A HOUSE: That is way below market value (may need a lot of work) and will cost no more than 75% of the rent you are now paying.

DO you know that the mortgage can be large enough to pay the credit card bill to your mother, the car note your husband has to pay off, and 2 - 3 thousand for property repairs.

Start by finding the right property, you need something that is way below market value but livable condition. What Country are you living in? Start right away, the next three years should see you moving to your dream home from this make do shack. E-mail me for help, click my icon.

Answer 3

Yawn

Answer 4

Yyyyyawn!
Bbboooooooringgg......
ZZZzzzzzzzzz....

Answer 5

Duh?!