Financial advice?
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1 year into the 13 plan you can refinance withan FHA loan as long as 12 months payments to the bankruptcy trustee are on time. By including this negative debt into the plan, the FHA underwriters would not look at anything except the payment history to the trustee for your debt and payment history.
Financial advice?Well, yup, sounds like most of us :-) Here's a little advice for bills you may have all around.
*If you have credit card debt - PAY off your debt from smaller balances first, and so on. People tend to pay off HIGHER interest cards first, and they should pay off smaller balances as it's easier and will easily eliminate one minimum payment, leaving you free with more money after paid off to pay other bills. If you've paid on a card for a while, call the company and nicely ask if you can request an lower interest. Also, you can transfer your higher interest cards, to your lower interest cards to help relieve your payments.
*If you take out more loans, you'll easily become overwhelmed and in more debt. What you need to do is make a chart on a board so both of you can see breaking down ALL your payments...this can be from electricty/utilities, to the loans you have. Payday loans are OK for need quick money type, but remember, you're only paying it all back when you get paid PLUS interest fees. So you're just losing money. Paying off debt is all about dispersing your paychecks accordingly. PAY YOURSELF FIRST> meaning if you get paid, lets say $1000 2/wks. Put $50-100 in the bank for savings and don't touch it. PAY YOURSELF FIRST!! lol..THEN pay off all other necessary bills. If you dont have to pay everything all at once, then dont. Instead of paying a lot you owe in two weeks for $300...see if you can pay $150 now, and $150 next pay. I would greatly help you out if you'd like with dispersement of payments for you and your partner. My boyfriend and i are in the same predictiment (minus the morgage) but it's the same difference.
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