Opinions Needed

[AAAArt]

I need some outside objective advice. I have a situation to face and one of the question areas is how it will affect my credit scores, but would appreciate anything that comes to mind.
Last day of work was 1/30/05. Medical Disability was approved for 1 year and kicked in on May 1, 2005. $24,000 a year down from $54,000. At the end of year one, it is reviewed. Either lowered to $16,000 a year or cut off entirely. Cardiologist and Primary Care Dr. say that my heart is fine to go back to work...it is just a matter of how I handle the stress, so I don't know if they will vote for continuing my disability after April. Also don't know how I could afford another $8000 pay cut.
Here are my choices.
Recently I was told of a part time (2 1/2 days a week) about 15 miles from me. Pay would be in the $18,000 range, but would include a nice house to live in, which would save us about $8400 a year. This would be a short term position. Prob. a year, but I could get out earlier if needed. This would also allow my wife to keep her job which she likes and has good benefits including cheap insurance. Probability of getting this job...my estimate...90%.
I could get a full time position in my state w/ base salary of around $23,000 -$24,000 plus house or housing allowance by May 1st. Probability 75-80%, (but if I take the part time position prob. couldn't apply for one of these for 5-6 months.)
I could get a full time position w. similar to larger salary and more opportunity to choose a position where I really feel comfortable and in a locale I like better. Odds...50-60% by May 1.
Questions re: credit score.
Each address change causes credit score to go down. Lower salary would not help too much to increase credit scores. Salary plus housing allowance shows more money as salary. 50% chance that new employer (if I take my time would finance house at somewhere between CD rate and prevailing Mortgage rate.
I am real tempted to take the part time position. It requires little disruption of our current life. It would not be very exciting, but would buy me time to find what I really want til retirement, (I will be 58 in May). Money is comparable to what I'm getting now, w/ a slight boost. It could start as soon as Jan.1 and I could get out after as little as 5-6 months if needed. Shouldn't have any effect on my Bk.
I just hate to go to a low paying position, change my address (I've been at the same place for over 10 years, go through the hassle of moving twice in a year, lower my scores again, but I really like the idea of having the security of income and being able to take my time in finding a position.
BTW, nrmally, in my field, it takes approx 6 months to 1 year to find a new position. Also, I really don't like the area of central IL where I live. It's flatter and windier than central KS. My soul misses hills or at least rolling terrain and a little less wind, preferably milder climate. For exampe, I camd from St. Louis and they are normally 7-9 degrees warmer in the winter than we are 160 miles away. Spring comes earlier and fall leaves later. There is no chance of returning to the SL metro area, in fact, we will prob. wind up in a small town, but that doesn't bother me.
What's your opinion gang? Thanks for taking the time to read and I value your responses, particularly how much you think that option 1 would trash my credit scores. Art

[StaciMM]

I don't think moving impacts credit score. I had heard before that moving too often was a bad thing, but in the past few months my 'research' has brought up nothing to that effect. Nor does income effect credit score. (It does impact debt to income ratios, just not the credit score.)

If you take the pt job, how much flexibility will you have to look for ft work in 6+ months? What I mean is, is it something where you'll have to stop doing that/move BEFORE you can look for fulltime work, or can you look and give up the pt job & move once you find fulltime work?

My thoughts: from what I gather, you're looking at a cut in pay (best case scenario) or a total loss of pay (worst case scenario) when the current year of disability is up. I'd say to go with the nearly sure thing now. That has a couple of benefits... I don't know if you'll lose the disability benefits early for working again, but even if you do you'll be ahead since the new pay and housing savings is more than the disability pay. And, since you're out of work for health/stress reasons, perhaps its a good idea to ease back in by working part time to start. In time, when you're ready, start looking for full time work.

[bkfiler]

aart im not sure i understood the direct question as you are comparing the different scenarios but:

if you are worried about credit scores for moving or taking a different job then the answer is it doesnt matter. moving has the same or less impact then a hard credit check if at all. that will pass.

also, i would not factor in the credit scores at all. period. do what you ahevt to do based on what is best for your health and future. id remove the credit scores out of the picture. instead just make sure you can keep paying your bills.

sorry if i didnt understand the questions correctly.

(aart, side plan: (stacii and minny close your ears) sell the car and get a horse and buggy like the amish to reduce costs. this lifestyle can then lead to adding wives in the future. and if you can get them all to work then you and your current wife can stay home and enjoy yourselfs instead! )

[StaciMM]

I closed my ears, but that didn't stop me from reading the rest of your post, LOL.

Problem... If Art follows your plan, he'll be paying alimony to his current wife-who will quickly divorce him for wanting more wives, and after paying to board & feed the horse he won't be able to afford the new wives so it will all be for nothing.

BKfiler-

Are you giving up your car, getting the horse and buggy, to save $$ for your Pacer bill?

(aart, side plan: (stacii and minny close your ears) sell the car and get a horse and buggy like the amish to reduce costs. this lifestyle can then lead to adding wives in the future. and if you can get them all to work then you and your current wife can stay home and enjoy yourselfs instead! )