I am 29 years old, and live in the State of Georgia. I have three children and was remarried this year. I recently contacted a lender to inquire about what steps will be needed to start looking into owning my own home.
I knew my credit was bad, but did not realize how bad. I owe roughly $26,000 in debt. I spoke with some attorneys about my options and am going to go with Chapter 7 bankruptcy. I know that with Chapter 7 it is possible that they will take thing you own to pay off your debts.
A little background info: My husband and I both work full time jobs.
I have nothing in my name, but my husband has two vehicles in his name. His car, is to be paid off this month, which is worth rougly $2,800. My van, is to be paid off in June, which is worth rougly $2,400 according to Kelly Blue Book Value
We really own nothing else that is worth any kind of value, besides common everyday things, such as our clothing, televisions, etc. The attorneys that I spoke with reassured me that they will not take any of these items, just wanted to be sure I listed it.
So. My questions were, how long after I file will my debt be cleared from my record?
Is it true that I may be able to own a home within two years after filing? (Of course this also relies on me making regular payments like I should, and not creating any new debt for myself.)
If there is something PENDING that has not went on to my credit report when I file, will these issues also be handled by my attorney?
(The reason I ask this, I noticed some things on my credit report that were from years ago and had just shown up.)
What is the SAFEST and quickest way to rebuild my credit after I file the bankruptcy?
Anything else I need to be prepared for or that I need to expect when I file the bankruptcy?
What is the general cost for filing bankruptcy? (Most of the attorneys that I spoke with are charging around $1,500)
I appreciate anyone taking the time to read my post.
I knew my credit was bad, but did not realize how bad. I owe roughly $26,000 in debt. I spoke with some attorneys about my options and am going to go with Chapter 7 bankruptcy. I know that with Chapter 7 it is possible that they will take thing you own to pay off your debts.
A little background info: My husband and I both work full time jobs.
I have nothing in my name, but my husband has two vehicles in his name. His car, is to be paid off this month, which is worth rougly $2,800. My van, is to be paid off in June, which is worth rougly $2,400 according to Kelly Blue Book Value
We really own nothing else that is worth any kind of value, besides common everyday things, such as our clothing, televisions, etc. The attorneys that I spoke with reassured me that they will not take any of these items, just wanted to be sure I listed it.
So. My questions were, how long after I file will my debt be cleared from my record?
Is it true that I may be able to own a home within two years after filing? (Of course this also relies on me making regular payments like I should, and not creating any new debt for myself.)
If there is something PENDING that has not went on to my credit report when I file, will these issues also be handled by my attorney?
(The reason I ask this, I noticed some things on my credit report that were from years ago and had just shown up.)
What is the SAFEST and quickest way to rebuild my credit after I file the bankruptcy?
Anything else I need to be prepared for or that I need to expect when I file the bankruptcy?
What is the general cost for filing bankruptcy? (Most of the attorneys that I spoke with are charging around $1,500)
I appreciate anyone taking the time to read my post.
