We are about 2 1/2 to 3 yrs post BK 13 discharge
I never got around to checking our latest credit scores. My husband never got a credit card, yet. I have 3 credit cards and only one has a small balance. We have two car loans and the HELOC which is just under $4,000.]
Well, we have plumbing issues in this old house. We have to have about $19,000 of repair work done. We qualified for a $24,000 loan at 13% interest over 10 yrs. There were two other loans for shorter time period/lower interest, but we decided to go with the lower payment and add to the principal instead of a large payment.
I am so bummed to have to have so much debt now between the cars and now the plumbing issue, but the pipes are quite old, tree roots and other damage. It sounds like they can fix it pretty much from inside the house with a 2x3 foot hole in the basement floor. Unless there is some unforeseen problem then they have to dig in the yard and both of these options are generally the same price (about $500 difference).
One of the first things my husband said was at least we didn't run into this problem 5 yrs ago. That's a good way to look at it.
I am glad we were able to get the loan and after living through BK 13 I know we can tighten our belts and be able to pay the loan down quicker.
We need other home repairs, but they will have to wait which is ok because I can't think of having this debt for many years.
I never got around to checking our latest credit scores. My husband never got a credit card, yet. I have 3 credit cards and only one has a small balance. We have two car loans and the HELOC which is just under $4,000.]
Well, we have plumbing issues in this old house. We have to have about $19,000 of repair work done. We qualified for a $24,000 loan at 13% interest over 10 yrs. There were two other loans for shorter time period/lower interest, but we decided to go with the lower payment and add to the principal instead of a large payment.
I am so bummed to have to have so much debt now between the cars and now the plumbing issue, but the pipes are quite old, tree roots and other damage. It sounds like they can fix it pretty much from inside the house with a 2x3 foot hole in the basement floor. Unless there is some unforeseen problem then they have to dig in the yard and both of these options are generally the same price (about $500 difference).
One of the first things my husband said was at least we didn't run into this problem 5 yrs ago. That's a good way to look at it.
I am glad we were able to get the loan and after living through BK 13 I know we can tighten our belts and be able to pay the loan down quicker.
We need other home repairs, but they will have to wait which is ok because I can't think of having this debt for many years.
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