Well, I've sent out validation letters to the two attorneys in my state that have a couple of collection accounts on me. None of my accounts have been previously validated (haven't sent the letters before). I'm getting ready to do just that. Validate everything. We are currently renting and decided to check out a new development. We'd like to get into a new home, but I'm not sure what direction to go. We have about $75k in CC debt that is charged off. They will give us a great mortgage if all these charged off accounts and the few collection accounts that are listed are gone. The main problem is that we don't have $75k or even $25k to settle these accounts and still have the 3-5% needed to put down on the house. I am not sure if we'd qualify for a ch 7 bk since I make a sizeable income. I refuse to do a ch 13 since I think they are just a way to get fees out of you for the ch 13 then when you fall behind on your payments, you go back to file a ch 7. Currently, my FICO scores are about 590, but with these accounts, they're denying me. I've read a number of postings re: bk and how it's easy to get a mortgage right out of bk. I'm not sure if I'd get fired if I were to file, either, though. I work for a large corporation and I don't think they'd even find out. Of course, when I applied for a new job, I'd have to check the box. Anyone know if the federal government will deny a job application if you've filed bk? or fire you if you file after being an employee? I wouldn't apply for the FBI or some other security related position...maybe with the library of congress or something like that. I'm not looking for the responses saying how I'm a loser for considering bk. We got in a bad position a couple of years ago with a CCCS type company, then with a debt settlement company. I'm trying to settle them on my own, but I know I can't do it within 2 years. That's why I was thinking of filing bk. Plus, I'm pretty sure my income will be garnished before I could settle everything. It just seems to make (some) sense to file. Anyone want to weigh in on this? I figure I can continue to validate, but as I understand it, it's not going to change the charge-off status of the OC. If I were to continue with validation and get the plethora of inquiries off my credit before filing, will it help my post-bk credit score? Ie: If I have a 590 before filing, will my post bk score be better than if I had a 450 before filing? Or does it not matter what it is? I have a fairly long credit history (9 years or so) with only the last couple being bad. Thanks! dabster
