It's been a LONG while- but we finally got our notice that our case is now CLOSED!

[olivies]

I've had the pleasure of writing one nasty letter to a creditor (old power company) who's collection agency tried to collect on a discharged debt. There was nothing more satisfying than writing and telling them they are in violation of Federal Bankruptcy code and any further attempt to collect will be met swiftly with appropriate response to the courts.

We've had a couple interesting bumps in the road- like my car completely dying. Luckily DH was able to get financing from Wells Fargo and we bought a 2yr old minivan that had only 10K miles on it. The finance manager at the dealership called the finance manager at the bank to plead our case. The bank man said he looked at our credit report and it didn't matter what the credit score was (about 590) or that we had a bankruptcy last year. He said our debt to income ratio was so low, he didn't view us as a risk. Phew!

We've each gotten a credit card with a $1000 limit to start rebuilding a credit history. We would like to be able to buy a house in a year to two.

Honestly the biggest "ouch" is that I don't think we can qualify for a Parent PLUS loan for our daughter's college because you have to have no adverse credit history, specifically

"An adverse credit history is defined as being more than 90 days late on any debt or having any Title IV debt (including a debt due to grant overpayment) within the past five years subjected to default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off."

I'm not sure if that automatically means we won't qualify to help her with a private student loan- DH is wondering if those are fairly easy to qualify before because they're basically like cockroaches and survive anything (even Bankruptcy). We shall see- truthfully, she has a second option of the state school, so I'm trusting that all will work out as it should. Just need to find out before May 1.

We still have DH's student loan debt, and our IRS debt we are paying on. But the feeling of not dreading getting the mail or answering the door or phone are GONE.

Hang in there everyone!!!

[Tater]

Congrats!! By reading your signature line, it sounds like you guys went through a lot! Enjoy!

[tobee43]

OLIVIES!!!!!!!!!!!!!!!!!!!


it's about TIME!!!!!!!!!!!!!!

[keepsmiling]

Hey Olivies, been wondering how you are. Another poster here has a tt almost as difficult as yours vis a vis housing issues so I have brought your good battle up once or twice. Glad to hear you are finally DONE and sounds like you came thru the war with flying colors.
Stick around if you can, your experience is very encouraging
Btw I mentioned to the financial aid folks that we were bk and they said that would help our ds get more money thru grants and his own loans. Go make an appt with someone at the school if you can.

[tobee43]

olivies, unfortunately, unless something has changed dramatically you will be denied the parent plus loan and then your daughter will be eligible to take out the loan herself with a copy of the denial.

it's the only way it will work and they will not give her the loan until they see you have been denied first. the bad part of course the loan goes on her credit but if you are all paying it, it will just fine. i know MANY people that had to do just that because of their parents going bk.

it will open other doors for her and maybe even at better interest rates, one never knows. i know it will be fine!