Am I Doomed?
My husband and I bought our 1st home in August 2001. We got behind in some bills when I missed several weeks of work due to pregnancy complications and wasn't paid for my leave in late 2002. Then my dad got laid off in Oct. 2002 and was unable to find new work. So my husband and I moved in with my parents so we could help each other financially as much as possible. In return my father kept my infant son so we could save money on daycare and I could keep my full time job, in turn using my paycheck to help pay my parents' bills, my husband's check was split between our remaining debts and my parents'. We rented out our home until December of 2003. But then we lost our tenant and couldn't find another one. We couldn't pay both mortgages (my parents and ours), so we got behind on our house payments. We decided to declare Chapter 13 on the house, a car payment and some other debts to keep the house and car while we tried to sell the house. We were told by our mortgage company that we had to have the bankruptcy discharged in order to complete the sale of the house, in doing that we lost one of our cars b/c it was covered by the bankruptcy and the company demanded the behind payments in full. This whole process took three months, which was three months we were unable to pay our mortgage Long story short, the mortgage company foreclosed on our home In January 2005, two weeks before the sale of the home was to be final.
My question is we now have a foreclosure, a repossession and a bankruptcy on our credit reports, are we ever going to be able to get our credit repaired. Our credit wasn't very good before all of this happened, either. I had student loans on it and my husband had a judgement from his younger days and a credit card that needed to be paid off. I assume most companies are not going to be willing to take a chance on us with our completely destroyed credit, but I want to try and fix it as best we can. Where do we start and how? My father has finally found work again and my husband and I need to start re-building our lives now. We're going to want to try and move into our own place eventually. And we are going to need another car soon, he has a '85 pickup truck with over 200,000 miles on it and his job is 1 hour drive one way. Can anyone help us try and fix our mess.
My question is we now have a foreclosure, a repossession and a bankruptcy on our credit reports, are we ever going to be able to get our credit repaired. Our credit wasn't very good before all of this happened, either. I had student loans on it and my husband had a judgement from his younger days and a credit card that needed to be paid off. I assume most companies are not going to be willing to take a chance on us with our completely destroyed credit, but I want to try and fix it as best we can. Where do we start and how? My father has finally found work again and my husband and I need to start re-building our lives now. We're going to want to try and move into our own place eventually. And we are going to need another car soon, he has a '85 pickup truck with over 200,000 miles on it and his job is 1 hour drive one way. Can anyone help us try and fix our mess.
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