Re: Get the horse, then the cart You are now Secretary to the Assistant of "Tone" (The Assistant and Overlord were appointed in another thread). I like facts. I hate unexplained claims shot from the hip. I don't like condescension like "pretty please." You said, "Mine was DISMISSED in 99 and I got this house FHA!" Then, you said, "Ok, one more time..it doesn't matter..the argument is not worth having as I RECEIVED AN FHA LOAN WITH A DISMISSED BK13 JUST 1 MONTH AGO. I'M THE PROOF YOU CAN GET ONE!!" Then, you said, "I started my BK13 in 96. All went well until 98 when I was in a bad car accident. I was out of work for 9 months...and my income disappeared. (As a new teacher in the district, I didn't qualify for long term sick leave coverage..even though I had been a teacher for years.) Anyway, the dramatic income loss meant it was hard to keep up my BK13 payments. We got them lowered...but it still wasn't enough...we were "hurtin'" as they say..and I was hurting physically, as well." Therein lies the key. If an underwriter looked at that file, they would have to make a judgment call because your case is not, specifically, addressed in the guidelines (see above). Until the last message, you didn't mention the medical problems (guidelines: "extenuating circumstances beyond his or her control"). And, you didn't say the Chapter 13 started in 1996 and you paid for two years. Someone reading your posts might come to the conclusion that they could file under Chapter 13, stop paying just because they wanted to, then get a loan. It is not amazing that your loan was approved just three years after you were even unable to make the payments on debts of which the court relieved you to the point of paying pennies on the dollar through the Chapter 13. I presume that the catastrophic medical occurence played a part in the decision. Dismissals due to medical problems do not apply. Becky thought her bankrutcy was dismissed. It was not. It was discharged. She is still working the "business" bankrutpcy angle. She just said "courts report this as a buisness BK just under my husbands name." Were the debts joint? Does she understand that if they were, and he filed, but she didn't, that she still owes them? That's why joint debt exists: If one doesn't pay, they go after the other. Why doesn't she just hire a credit repair firm for $700? The mysteries continue.
Re: Get the horse, then the cart Greg, Get a clue. What I said was I wondered if I should even have it on my reports because it was a buisness bk & is seen as such though the courts. I know personal ones will appear. I was not sure if all bk go on personal reports. No matter what they were. I have no accounts from this bk on my personal reports because they were all buisness related. The only thing that exists is in the public record area of my report. Why should I not try to get it removed. I paid the damn thing. Why should you care any way. Your not making me a loan. Why don't I hire a repair service for $700. Why don't you pay for it! Do not read things in to people's messages. Take them as they are written. Becky
Re: Get the horse, then the cart "Businesses Can't File for Chapter 13 Bankruptcy" according to http://www.nolo.com/encyclopedia/articles/dc/DC16.HTML . Here's chapter 13. http://www4.law.cornell.edu/uscode/11/ch13.html . It is entitled "CHAPTER 13 - ADJUSTMENT OF DEBTS OF AN INDIVIDUAL WITH REGULAR INCOME." The Chapter 13 should appear on your report if you were declared bankrupt under that law-- it doesn't matter if the debts were business-related, or not. That the debts are not listed is to your advantage. If the business was a corporation (a legal entity (person)), and the debts were in the name of the business, not that of yours or your spouse, it would be a different story. That's one of the ideas of incorporation-- to limit personal liability. What did don@aimloans.com say? Regarding the credit repair service and $700, it seems that you have a major problem you can't resolve it. It was just a suggestion, and I made it because I believe your situation is too difficult for anyone here to tackle given the small amount of information they have about you. It has been a week, and you're not any closer. Take it or leave it.
Re: Get the horse, then the cart Greg, The judge gave us a choice of 11 or 13. My attorney chose to do 13 instead of eleven not us, because we closed the buisness & had regular employment. The judge accepted it as a 13 That's all I know. Your own reference states, "Businesses are steered toward Chapter 11 bankruptcy when they need help reorganizing their debts." Sorry ours didn't totally fit in to the descriptions you quoted. But then most of life does not do that. Just because laws are set in writing dosen't mean they are always followed. I am no furthure because I am waiting for my Cr's to come back with the results of my investigations. Which I did on my own. Equifax has all ready deleted a lot of the false info. In the last few weeks. Only two duplicate items left. All I am going for is one of each of the duplicates to go. If the BK is there so be it. Life goes on. When they are all back & cleared up then I will deal with the lenders again. I never said I had a problem dealing with the stuff that was truly ours. My peeve is with all the false & incorrect items reported. I think this conversation has gone on long enough. I seem to be repeating myself now with what was on my original messages. By the way since you like reference quotes. It is, "Don't put the horse before the cart". Not get the horse.... Becky
Re: Get the horse, then the cart Dismissed can't be better...we didn't finish the bk13 and so the discharged one has to be more postiive since the person completed their obligation. As for good payments, etc..just a note that my payment record with the BK13 was not looked at in regards to my house purchase. School is crazy...I'm getting tired of starting in new schools, learning the ropes...I'm probably not in the right frame of mind to answer that yet..LOL Erica..I will...I'll drop ya a line..Momof3, you too..I haven't forgotten.. Becky, thanks for the sweet thoughts!
Re: Get the horse, then the cart NanaC. First days of school are always the hardest. I know they are for me. Just getting use to getting 2 kids together & out the door on time. At least you have your wonderful new home to come back to each night Take care, Becky
Re: Get the horse, then the cart Becky and those looking for a house: I never had to address the dismissal in ANY form. I did not have to write an explanation on the dismissal (as was suggested as a special reason why I was approved). I was approved a little less than 2 years past the dismissal. I did write an explanation for my one charge off and that was it. That charge off was not part of the BK13. The suggestion to talk to Don is a good one (how about that?) LOL Oh, while all loans may be considered a judgement call unless totally score driven, don't think this was a difficult process for me. It was amazingly pleasant aside from the nerves of waiting and paying the one charge-off that wasn't mine. But, all this would be better solved by discussing this with a good broker. Then, you can report back about how right I am! ROFL teehee Greg: This is the last I'll say to you on the subject...this forum is too important to deal with a grumpy, defensive individual who clearly has issues I don't understand. On this, Mr. F, you don't know what you are talking about. Your talking about my situation is ludicrous, you didn't experience it, and I know that is best left for me to report. It's ok...it's just tough for you to admit and I understand. As for how I write my notes, I'll use your own "tone" and say I'll write them how I please, when I please, with the words I please. (Thanks for giving me that sentence.) And, pretty please, keep on eye on those wheaties in the morning...if they are off-color, for heaven's sake, don't eat them!
Re: Get the horse, then the cart NanaC, I will get a email off to Don & see if he can shed some light on this. Or if it is just hopeless. I am discouraged again. If you didn't read my new thread. I got a letter yesterday from TU wanting my BK papers & all creditor copies. All I asked was that they up date or delete items that had not been reported since 6/95. Since I don't have a lot of time to play with them. I don't know if I should respond, ignore, or call & see why they need that info. These Items come off in 8 months. I want to rip my hair out. But then I would still have crappy credit & be ugly on top of it Take care. I'll let you know what Don has to say. Becky
Re: Get the horse, then the cart Hey, Denise...just a thought...but when Experian did something similar, I wrote to PlanetFeedback and it was sent to the headquarters where it was handled. We even got personal calls from some bigwig lady. So, now, using my theory that desperation is the key to getting resolution..I suggest that you send a letter via Planet Feedback AND call and get ahold of someone WAY UP the ladder. Call until you do (desperation works!) Bill's suggestion is good, too. But, Don (or another good broker) is the first step.
Re: Get the horse, then the cart "This is the last I'll say to you on the subject...this forum is too important to deal with a grumpy, defensive individual who clearly has issues I don't understand." An incredibly dichotomous and ironic statement: A back-handed remark about my alleged "issues" coupled with a high-minded declaration about the forum being too important for that kind of thing. "Your talking about my situation is ludicrous, you didn't experience it, and I know that is best left for me to report. It's ok...it's just tough for you to admit and I understand." On the contrary, I defer, completely, to you in this incredible tale. Please, give us all the details. I think it is wonderful that you didn't have to relive the agony since the lender thinks it is all behind you and has little to do with your propensity to repay. But, I know the guidelines because I bothered to read them. Here's the part about explaining credit problems: While minor derogatory information occurring two or more years in the past does not require explanation, major indications of derogatory credit, including judgements and collections, and any other recent credit problems, require sufficient written explanation from the borrower. The borrower's explanation must make sense and be consistent with other credit information in the file. -- HUD Directive 4155.1 Please, let me know when HUD changes them. "As for how I write my notes, I'll use your own "tone" and say I'll write them how I please, when I please, with the words I please. (Thanks for giving me that sentence.)" How unoriginal. I wouldn't expect anything less than your true tone. Apparently, I've changed your mind about discussing "tone" and how inappropriate it is because we're all going to express ourselves in our own "tone." Remember that, and remember that you should have never brought it up. "And, pretty please, keep on eye on those wheaties in the morning...if they are off-color, for heaven's sake, don't eat them!" The face of educators of the children of America, ladies and gentlemen. Could you explain the cart before the horse reference to Becky? I suggest that she cooperate with Trans Union and provide the documents they requested-- for expediency. What do you suggest? What good will (in your vast experience and wisdom) calling them or ignoring them do?
