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Posted: Fri Sep 08, 2006 4:51 pm Subject: My Husband's Credit/Debt

As most of you know, I have been with debt settlement for several months now. We had to remove my husband's accounts because they were secured or had collateral on them. Well, we have been struggling with those payments the last few months so made an appointment with our local CCCS. This happened yesterday and went well. He will be officially starting in October for 57 months but they said they could work with all his creditors. There was two small medical bills they said they could pay on his own though. Now, this is what surprised me. He asked about the home equity loan with Beneficial. He didn't think they would be able to do anything with that since it's a truly secured debt. They said Beneficial will work with them on a 2nd mortgage, not a first so he included that in the plan as well. We will be saving a little bit of money every month. It's kind of overwhelming right now since I will soon be taking FMLA. But the awesome news is the orignal 2nd mortgage was a fifteen year loan and now we have less than five years to pay on it. We've had it for about a year and a half so we will be cutting a lot of the interest charges that Beneficial is famous for. Hubby is farming this fall so that will bring in some extra income plus he is going to take his old part time job back after that. So we will be able to manage but I will be done with debt settlement next fall so that will help. Things are slowly but surely turning around for us Smile

Posted: Fri Sep 08, 2006 4:55 pm Subject:

Mishele-I am so glad to hear that. It's a relief when you can finally see a little bit of light at the end of the tunnel,huh? Good luck to both of you,and I hope things just get better and better.Karen Very Happy

Posted: Fri Sep 08, 2006 5:10 pm Subject:

Mishele, you are managing your money in the right way. I wish you all the best till you get success. Just as a piece of advice here, your program continues with your assets involved in between. Be careful and put priority to your payments, whatever may be the situation. Bigger results come with higher risks. Concentrate on your payments so that there is no risk towards your assets. (Just a note, though you have always been careful and a planned person.)

Posted: Sat Sep 09, 2006 4:32 am Subject:

Congratulations!! YAY! Smile

Im glad everything is coming together for you.

Posted: Sat Sep 09, 2006 9:30 am Subject:

I'm so glad things are going well for you. You deserve the break!

Posted: Sun Sep 10, 2006 6:04 am Subject:

GunsnRoses,

I appreciate your advice. I have not always been the planned person. When I first came here, I was in the payday loan cycle up to my eyeballs and beyond. That is why we removed my husband's debts from my debt settlement company. They were afraid they would take is collateral he had on his loans. We just couldn't keep juggling his payments either. Our local CCCS office has a great reputation so that is why he maid the appointment with them. He had considered Chapter 13 bankruptcy for awhile but we didn't really want to go that route after we thought about things. We went local because his loans are with local companies so they are used to working with them. I'm glad that we were able to include the 2nd mortgage. Things will also be better at the end of December because we will be done with the foreclosure process on our home with Ameriquest. We were able to make payment arrangements with them but it's costing us several hundred dollars per month extra to get caught up. So we will be able to use that money to help pay these programs with and start saving more each month. Things have improved so much since I found this forum and all the wonderful people here Smile

Posted: Sun Sep 10, 2006 6:06 am Subject:

And my typing sucks this morning lol Laughing

guest · Posted: Sun Sep 10, 2006 6:59 am Subject:

Mishele--your typing may suck but you got a great dimple there on your chin! Looks like things are going in the right direction for you and your husband. Best wishes.

Posted: Sun Sep 10, 2006 9:32 am Subject:

I know it may be tight for a few more monts,but it sounds like you will be able to take a big breath after that! Thanks,Mishel-you give me hope Very Happy

...Karen

Posted: Fri Dec 14, 2007 10:44 am Subject:

I am happy to hear that you have found a local ccs that can help you. Things will be tight to begin with but soon with a little extra hard work it will be over soon for you.

Merry X-mas and Happy New Year to you. Next year will be brighter for you.

ladybug