Here is my story is a nurshell- it may help you out
2007 income= $115,000
lost my job- started new job at a whopping $35,000
took new job at $50,000 but could not keep up with my bills
Filed Ch13 for mortgage arrears and car payments, about $15,000 in cc
salary cut to $35,000
could not keep up with Ch13 payments
recently put my house up for a short sale and have an offer
moved into a nicer house for $1600/month- which is about $500 less than previous
Lawyer called and said current income + wifes now current income will not be an issue as we are filing Ch7 for past debt
He says we will most likely be able to keep the cars as there is little or no equity in each.
My lawyer said he thinks it will be a pretty cut and dry case
My plan to build up credit is to get a cc with max of about $500
and to get a motorcycle loan (about $3500) with payments about $100/month
and pay them off
2007 income= $115,000
lost my job- started new job at a whopping $35,000
took new job at $50,000 but could not keep up with my bills
Filed Ch13 for mortgage arrears and car payments, about $15,000 in cc
salary cut to $35,000
could not keep up with Ch13 payments
recently put my house up for a short sale and have an offer
moved into a nicer house for $1600/month- which is about $500 less than previous
Lawyer called and said current income + wifes now current income will not be an issue as we are filing Ch7 for past debt
He says we will most likely be able to keep the cars as there is little or no equity in each.
My lawyer said he thinks it will be a pretty cut and dry case
My plan to build up credit is to get a cc with max of about $500
and to get a motorcycle loan (about $3500) with payments about $100/month
and pay them off