Recovering From Life Events

Hello Paul,

Like many others, I found this site by chance, and I am so greatful for the information you provide- this site has helped me to realize that I really could possibly own a home again. In 2006 while I was in grad school, my husband was our sole bread winner- he was unexpectedly (38 yrs. old) diagnosed with cancer and has undergone multiple surgeries and chemotherapy cycles. Obviously, this turned our world upside down, and we fell behind on our obligations. Since that time, he is now doing much better and we thankfully expect continued progress.

My question to you is this: I filed a chapter 13 (only my name) on 9/06 in an attempt to save my home from foreclosure, the bk was dismissed 6/07 due to nonpayment. I have since graduated and obtained employment with a salary of 70K. After pulling my free credit reports from all 3 cb, I see that the first mortgage company reports “max delinquency of 120+ days as pay status and high balance of 116K”. Currently, none of the reports are showing the foreclosure, however, I know that the home was sold in 9/07. I also have other debts that are still showing as wage earner plan or bk 13 9/06 (including a second mortgage for 30K). I am wondering if I should refile bk or try to nego with all creditors (or have Brian to help)…my goal is to do whatever is necessary in order for us to have our credit where it needs to be in order to purchase a home again.

I apologize for the long email, but I do value your opinion and very much appreciate your time. Thank you for what you are doing here-

Katherine

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Hi Katherine,

This was a question from a few days ago.  I’ve since traded emails with you and Brian has given his opinion of Bankruptcy, Nuclear Bombs, Credit Reports, & Credit Repair.

The FCRA requires the items on your credit report to be ‘complete and accurate’.  At first glance, there are many inconsistencies in the reporting of the information you’ve cited.  Please report back your success with Brian and we’ll add to this post.

Thanks for the questions and hope this helps.

Paul