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PowerChat: á PowerChat: *** Entered MoneyWhiz 2 on 10/17/96 at 07:43 PM *** PowerChat: á MW Bkrpt1C: Welcome to credit & Debt 101! LWILKI: guess those in serious debt aren't on the Internet. MW Bkrpt1C: Actually.. they're running late! LWILKI: maybe their PC's have been repossessed. MW Bkrpt1C: Three minutes to class! LWILKI: or they've got money on the Atlanta game. MW Bkrpt1C: Everybody got a seat? MW Bkrpt1C: Hey, where'd gearhead go? LWILKI: are you a CPA? MW Bkrpt1C: I quit watchin' when the Oreos lost! MW Bkrpt1C: Nope... just somebody who's been there, done that, when it comes to debt. MW Bkrpt1C: Two minutes to class time! J nLA: hi all MW Bkrpt1C: Hi J nLA! J nLA: is this the debt room? MW Bkrpt1C: Yep, J nLA.. and the credit room too! SkipnAmy: Hey all....Paula MW Bkrpt1C: Who wants to start off tonight? J nLA: kwl... i have many ???????'ssss MW Bkrpt1C: SkipnAmy** MW Bkrpt1C: J n.. you're up then!!! J nLA: k.... REMAXTESS: should i put money into my sep-ira before paying off 10000 of credit card debt J nLA: well over a year a ago i aquired bad creedit on 2 cards.... MW Bkrpt1C: Remax.. let's talk details... what's your income and what other expenses do you have? J nLA: but since then... i have worked hard to pay off more then the min. evry month... MW Bkrpt1C: J... how do you define "bad credit?" J nLA: and now i want to get rid of my bad credit rating..... J nLA: well i didnt pay my bills for 4 months... i think it was 4... MW Bkrpt1C: J.. how much is left on the debt? J nLA: got calls from creditors.... J nLA: well total i owe 8,500.00 J nLA: i am current and paying off more then min. now and have for the past 6 months REMAXTESS: income-68000net Home-700/month car 400/month 500/month misc J nLA: i can afford to pay $250. a month total... MW Bkrpt1C: J... how much are the minimums and are you charging anything new to the cards? J nLA: I cant use 2 of the cards .. they denied my use.. and NO!!!! i am not using them anymore... J nLA: I have 3 cards total... MW Bkrpt1C: REMAX.. how much are your minimum payments? J nLA: i want to get back in their good graces..... Mardi44: is there a protocol here? MW Bkrpt1C: Just join in and look for your answers along the way, if you like! J nLA: mins... are 42 , 71, and 58 i think.... REMAXTESS: credit card min. are 2% or 200 MW Bkrpt1C: J.. the fact that you've gotten yourself current is a big indicator to them that SkipnAmy: a free for all? SkipnAmy: :-) MW Bkrpt1C: you're doing good.. you're on your way into the good graces already. SkipnAmy: Got a problem with a TU report. Had a Ch 13 back in 9/89. Three of the accounts SkipnAmy: included in the Ch 13 had been showing up as charge-offs dated 10/89, 11/89 and 1/90. SkipnAmy: Disputed this info with TU and sent copies of the Ch 13 paperwork. 5 weeks later, J nLA: thats good to hear.... would a letter help... and do they ever lower the interest rate? SkipnAmy: (today) we received a new TU report saying that 2 of the accounts (10/89, 11/89) were Mardi44: good credit so far,but getting worried, can't seem to put anything away into savings. SkipnAmy: verified as correct and there was updated info on the third (1/90) account. It turns out SkipnAmy: the first two "verified" accounts didn't even show up--they were dropped off the report. SkipnAmy: However, the third account now shows Ch 13 Wage Earner Plan--1/90!!!! Also, the MW Bkrpt1C: J/Remax.... you can both speed up the process by paying the minimums plus SkipnAmy: Ch 13 STILL shows on the report although it is past the 7 year point. What do you do MW Bkrpt1C: the interest that they've charged. SkipnAmy: when they have incorrect info that has been "verified"?????? JKFaith: Is it good to consolidationa bunch of little credit card amts into a 10000.00 credit card? MW Bkrpt1C: Those amounts will drop month after month, but keep paying the same amount. Mardi44: only if you stop using the cards, right? J nLA: I am doing that MW...; > for the last 6 months... MW Bkrpt1C: Remax... I'd also invest some in the retirement account as you go along. MW Bkrpt1C: J!!!! Way to go!!! MW Mad Dog: HI all...Hi Paula SkipnAmy: Mardi, here's what I do..... Always LOVED shopping and got in way over my head! SkipnAmy: Hey Mad Dog!!!!!! Treasure78: Hi Mad Dog Mashach5: Hi Paula :) SkipnAmy: So in order to *save* I shop for bank products! SkipnAmy: I "buy" 50.00 of a savings account, or a stock or two MW Bkrpt1C: Skip... the key date here is going to be when the Chap. 13 was DISCHARGED MW Mad Dog: Treasure, SkipnAmy...Great to see you. MW Bkrpt1C: The date is 7 years from the end of your payment period. Where do you fit on that MW Bkrpt1C: timeline? J nLA: Thanks for the help!!!! Treasure78: You too, Mad Dog MW Bkrpt1C: Mardi... you'll find some good stuff here and in the boards on getting some money set SkipnAmy: Okay but the thing is it's already dropped off TRW MW Bkrpt1C: aside in savings. Irishmyst2: Hi everyone Mardi44: don't have any extra money. How can I cut back on my payments and not get in trouble ? MW Bkrpt1C: JK.. yes, it's good to consolidate credit cards into one MW Bkrpt1C: card, if you can find one (or two MW Bkrpt1C: g Irishmyst2: Number one queston here is bugets.........know of any realy good ones. MW Mad Dog: Mardi...If you've got credit payment problems try CCCS. In the Yellow pages MW Bkrpt1C: good credit JKFaith: MW which credit card consolidation is best? MW Bkrpt1C: Hi Kim**** J nLA: CCCS treated me horribly when i went to get help from them a year ago... Mardi44: what about asking my creditors if they would take smaller payments? MW Mad Dog: Jn LA...Why? MW Bkrpt1C: Skip.. great "shopping strategy!!!" JKFaith: MW I'm good at paying off fast if I can consolidate J nLA: they told me that i would have to make $350. more a month b4 they would help and they told MW Bkrpt1C: Mardi.. you can get the whole family to look at savings as a game.. for starters. J nLA: me that i should expect lawyers to be contacting me soon.... scared the umm beeegebbers Treasure78: Re CCCS, Just read that they get 12 1/2% of whatever they collect! J nLA: outta me SkipnAmy: Mardi, when we asked about cutting the min payment, almost all of our creditors said SkipnAmy: no way....unless we missed 4 or 5 payments... MW Mad Dog: Jn LA...Sounds like they were recommending BK SkipnAmy: THEN they would talk Mardi44: so my credit record has to get bad first? MW Bkrpt1C: Mardi.. no it doesn't! J nLA: they didnt say BK.... they sent me away in tears..... i wrote letters and told them what MW Bkrpt1C: You can start by negotiating with your creditors to lower your interest rates. SkipnAmy: That's what they told us.....and we fell for it Mardi44: trying to prevent that, for sure. MW Bkrpt1C: Mardi... what kind of debt are we talking about and how much can you pay toward them? J nLA: Happened... i got some response from them... but not sufficient J nLA: Luckily .... my credit union offered something similiar MW Mad Dog: J nLA...Sounds like you had apersonality conflict as much as anything SkipnAmy: ack....gotta go check on supper, I'll try to be back before the hour is up! MW Bkrpt1C: By SkipnAmy!!! MW Mad Dog: J NLA...Waht did your credit union do? J nLA: Yes.. definatley........ thats EXACTLY what it was.... and i was upset because when your J nLA: in that position... its very vulnerable..... Mardi44: $15K in credit cards; 14K on two loans . J nLA: they have a similar program..... same concept as CCCS... MW Bkrpt1C: Mardi.. can you meet the minimums right now? Mardi44: Yes, but barely. MW Bkrpt1C: Okay.. so let's see where we can trim expenses just a bit here and there. Mardi44: Need a new roof. Have no idea how I'm going to get $3,000 at this point. MW Mad Dog: J nLA...How did it work out MW Bkrpt1C: What's your mortgage payment? Mardi44: $470 per mo. J nLA: well much better now.. I am back opn my feet and trying to do damage control to my credit J nLA: and repairing it slowly...... MW Bkrpt1C: Okay, Mardi.. Any chance you can take in a roomie? Mardi44: No way. MW Mad Dog: J...Read our forum. think you'll find it helpful MW Bkrpt1C: Okay. What's your work situation look like? Raise? Income? J nLA: K.. MAD... thaks... Mardi44: no chance for a raise for about at least a year. MW Mad Dog: J...Forgotto mention...We're in the managing debt and credit section/ Mardi44: one=income family. MW Bkrpt1C: Any other income coming into the house, Mardi? Mardi44: none MW Bkrpt1C: You beat me too that one! CapmDave: At this point I make a very very nice income, but five years ago I files bankruptcy. How J nLA: k... i will check it out... this is great that youse guys are doing this...; P MW Bkrpt1C: Any chance you can become a two incomer for a little while? CapmDave: might I get back in good standing??? MW Bkrpt1C: Thanks J nLA! J nLA: Bye** MW Mad Dog: J...Bye MW Bkrpt1C: Capm... have you loked at your credit reports at all recently? That's going to MW Bkrpt1C: be your starting point. Mardi44: possibly. any suggestions? CapmDave: yes MW Bkrpt1C: What do they say, Capm? CapmDave: They are blemished to the hilt!!! MW Bkrpt1C: Since you're used to living on one income, Mardi, you could take 50% or even 75% MW Bkrpt1C: of a second income and put it all toward paying off the debt. MW Bkrpt1C: Even if the job pays just 12K a year, that would make a MW Bkrpt1C: big dent in your debt in one year! CapmDave: I have been paying them off slowly and I have invested in some mutual funds, but my CapmDave: credit history is shot. MW Bkrpt1C: Capm.. does it still show some of the accounts that are MW Bkrpt1C: listed in the bk as being under collection or charged off? CapmDave: yes Mardi44: thanks, mwbkrpt; I'll start looking. Maybe that's the answer. MW Bkrpt1C: Okay@! That's your opening! MW Bkrpt1C: Mardi.. it can't hurt to look... and it would make a big difference. MONI21: I'llcome back. This room seems to be very interesting . Are you on every day? MW Bkrpt1C: Just make sure you don't increaese your cost of living... CapmDave: I really feel trapped by the "system." MW Bkrpt1C: MON.. every Thursday from 10-11pm est! MW Bkrpt1C: Or feel free to email me. Mardi44: I'll let you know how I make out. thanks a lot. MW Bkrpt1C: Capm.. you're on your way out.. MW Bkrpt1C: here's what you need to do.... MW Mad Dog: Mon...don't forget teh forum - managing debt and creidt...We're there all the time MW Bkrpt1C: Send back the forms that came with yoru credit reports and mark each MONI21: thank you I'll be back!!! MW Bkrpt1C: account that should be (Thansks for the reminder George!!!) MW Bkrpt1C: listed as "discharged under bankruptcy dated xxxx" and not as under collectino MW Bkrpt1C: or charged off. MW Bkrpt1C: What else is there Cap? CapmDave: I've done that... these black marks were subsequent to the bankruptcy. CapmDave: Actually after the bkrtcy MW Bkrpt1C: Cap.. what do the black marks say, then? MW Mad Dog: Be right back CapmDave: Uncollecteddebt RFisher231: What is the best way to pay off credit cards CapmDave: I suppose I could pay these off and get it over with... CapmDave: but then there is the question of getting back my credit cards. CapmDave: How's that done??? MW Bkrpt1C: Capm.. I'd strongly suggest paying off the uncollected debt RFisher231: yes MW Bkrpt1C: unless they're nearing the MW Bkrpt1C: 7 year fall off point. CapmDave: Some are!!! MW Bkrpt1C: You'd then be best off getting a secured credit card. MW Bkrpt1C: Let those fall off then, they'll disappear. MW Bkrpt1C: RFisher... how much debt and how much can you pay each month toward them? CapmDave: So, I could be making tons of money at this point and it really doesn't matter much! BEmory8705: I had to turn in my credit card today and I really felt poor. CapmDave: I mean so far asgetting credit cards back???!!! MW Bkrpt1C: Capm.. doesn't matter in what way? RFisher231: thanks anyway BEmory8705: The only stuff I can have now is the green stuff in the wallet. I hope I can make it stretch MW Bkrpt1C: BE... good to see you! MW Bkrpt1C: BE.. you'd be surprised at how much you can get done with out credit! MW Bkrpt1C: When was the last time you charged something? BEmory8705: It is nice to be here, at least I don't feel so all alone. Mashach5: BEmory..That green stuff goes alot farther when you budget it!! CapmDave: You've been very helpful... thanks a lot!!! U2Laurie: I need to figure out what to do soon Treasure78: BE..Think of how good it is in the longrun to pay $ and not finance charges! MW Bkrpt1C: Oh, I almost forgot.. the November issue of Black Enterprise magazine.. MW Bkrpt1C: has a blurb about me and my book! U2Laurie: I owe $12,000 to a credit card company plus $1800 to two phone companies Treasure78: MW What does it say? U2Laurie: I was a minor when I charged all that stuff CapmDave: So long all... Mashach5: Good for you MW!! MW Bkrpt1C: U2.. are the phone companies current accounts? MW Bkrpt1C: Night Cap.. Mashach5: Where can we find it? MW Mad Dog: Hessss baaaackkkkk MW Bkrpt1C: Susan/Kim... don't know, havent seen it yet, probably the newstand! MW Bkrpt1C: Hey George!!! U2Laurie: well the one phone was cut off, and the other was a calling card only Treasure78: MW Congrats, Your a celeb! BEmory8705: It is really exciting when I purchase something and I pay cash and realize it's all mine. MW Bkrpt1C: ::::blushing::::; MW Mad Dog: BE...Yes...That's a good feeling RKL4: Just looking around...never been here MW Bkrpt1C: U2.. I'd put the phone bills on the back burner, since they're not active accounts, MW Bkrpt1C: unless you need the one that got cut off? U2Laurie: one phone bill was already sent to collection I think PowerChat: á PowerChat: *** Entered MoneyWhiz 2 on 10/17/96 at 08:24 PM *** PowerChat: á Mashach5: yes MW Mad Dog: Treasure...No...Not secured BEmory8705: Can I get that from my bank where I have my checking account? MW Bkrpt1C: Hi again!!! Got punted big time!!! Mashach5: yes Slowridem: Can I ease a question in here? Treasure78: Welome back, Bkrpt MW Bkrpt1C: Sure Slow... MW Bkrpt1C: What's up? U2Laurie: hi bkrpt BEmory8705: It sounds like it works instead of using checks. MW Bkrpt1C: Hi Susan, U2... Mashach5: Yes MW Bkrpt1C: We talking debit card here? Treasure78: Yes Slowridem: Have been having a real problem getting a credit card or credit since I had two of them take Mashach5: But also with the convenience of telephone orders, reservations ect. U2Laurie: mad dog says I can get the credit cards removed from my report since I was a minor MW Bkrpt1C: Are we only allowed to speak in single syllables? MW Bkrpt1C: U2.. they offered you cards when you were a minor? As sole signature? Slowridem: n away about seven years ago. Now can't get any credit. Is a secured card the only way to Slowridem: go? U2Laurie: well... Slowridem: And does this mean I probably could not get say, a car? U2Laurie: they sent those preapproved things to my mom Slowridem: eh, car loan, that is.. MW Mad Dog: Slow...A secured card is the way to start. Rad our forum. Under managing debt and credit Treasure78: A secured card may help you to restablish credit. There is a list of them U2Laurie: I put my social security # Treasure78: on the boards. MW Bkrpt1C: Slow.. those accounts should fall off after a full seven years. MW Bkrpt1C: How close are you, Slow? Slowridem: Yes, they are gone, actually.but now, I simply have no credit, bad or otherwise, which still Slowridem: sems to tell creditors you had a problem.. MW Bkrpt1C: U2... unfortunately, I don't think you cna get them off your credit report, U2... Slowridem: and they still turn me down.. MW Bkrpt1C: It sounds like you obtained them fraudulently. MW Mad Dog: Slow...No credit is called a "ghost" MW Bkrpt1C: Slow.. the secured credit card wil give you that history. U2Laurie: well I put MY name/ info on form MW Mad Dog: U2...It sounds like it to me too...But they are still in the same situaton as far as the law. BEmory8705: Since we gave filed chapter 7, will we ever be able to get credit again? U2Laurie: would I get in any trouble then? U2Laurie: can I get it removed from my credit? MW Bkrpt1C: U2.. what you may be able to do is do a Chapter 13, which allows you to Slowridem: What is the time period credit card companies look for before they will extend credit to a g MW Mad Dog: U2...If you put your ss#on them they shold have checked...Nothig's changed MW Bkrpt1C: reorganize your debt even if it was fraud. Slowridem: host? sorry, did not mean to interrupt.. MW Mad Dog: Slow...You need to start with a secured MW Bkrpt1C: No apology needed Slow, just start with a secured card, and after a year MW Bkrpt1C: of good payment history, people will start giving you credit as you need it. MW Bkrpt1C: Just be careful of falling into the same trap again. U2Laurie: Ch 13? Slowridem: Ok. Yes, moved to NYC and budget went to hell. Thank you both. MW Bkrpt1C: Chapter 13 bankruptcy, U2... let's you stop the collectors, set up a repayment MW Bkrpt1C: plan, avoid jail and after 3-5 years, depending on the repayment plan, the debts MW Bkrpt1C: are all wiped off, whatever is remaining. MW Bkrpt1C: Your'e welcome, Slow. MW Mad Dog: U2...I have a different opinion about that. It's too little money for a BK. Just get a repaymet plan MW Bkrpt1C: Mad Dog.. I missed the beginning of U2's question.. how much debt is it? BEmory8705: I wish I had filed chapter 13 instead of 7. It sounds and looks better. U2Laurie: well as I said, I can pay about $1800 now and about $600 a month MW Mad Dog: BK...Not sure U2? U2Laurie: $12000 to ccc and $1800 to two phone companies MW Bkrpt1C: BE... actually, it looks the same to creditors, 13 or 7. MW Mad Dog: It's just a few thousand dollares MW Bkrpt1C: U2... what's your income? Mashach5: BE..my attorney said one looks as bad as the other now days. U2Laurie: about $600 a month RTypeZ6: Hello! MW Mad Dog: U2...Thaought it was 1200 not 12000 MW Bkrpt1C: Greetings RT. U2Laurie: but I have no real expenses U2Laurie: oh Rhojem: good evening.. looking for advice as to advantages and disadv. on borrowing from 401 or Treasure78: BE A 13 lets you keep all your assets, but it's more expensive to do. BEmory8705: I guess it doesn't make much difference then. MW Bkrpt1C: My vote is still for the Chapt 13, U2. U2Laurie: I'm 18 now of course U2Laurie: how much does it cost to file ch 13 MW Bkrpt1C: BE.. well, with a Chapt 13, you still hav a lot of debts to pay. Rhojem: taking out home equity loan to pay of credit debt? Anyone with advice Treasure78: BE Plus it is a 3 to 5 year repayment plan & your still stuck with BK on the credit rpt. RTypeZ6: Any ideas about Iomega? MW Bkrpt1C: With a 7, you don't . BEmory8705: According to the attorney we are going to be able to keep everything. MW Bkrpt1C: Rho.. what interest rate can you get on the home equity? And can you survive without MW Bkrpt1C: the crdit cards? MW Bkrpt1C: RT.. sorry, we're talking cerdit & debt tonight. MW Bkrpt1C: BE... glad to hear it. U2Laurie: I can also borrow money from my boyfriend and pay back with a 5% interest rate, so isn't U2Laurie: that much better than bankruptcy? RTypeZ6: Bye! BEmory8705: I hope he wasn't lying to me. RTypeZ6: {S goodbye MW Mad Dog: U2...Much better than BK Rhojem: don;'t know exactly..maybe aroung 9% MW Bkrpt1C: Rh... good! U2Laurie: the question is whether to settle or try to get them to close the account ? or if I have any U2Laurie: feasible options for keeping ok credit? Treasure78: BE Get another opinion (free consultation) MW Bkrpt1C: BE.. nope, i don't think he was lying to you, given what you've said before. Mashach5: BE..We're keeping everything of ours too. MW Mad Dog: U2...Wahteer you do you'll ned to reestablish. Start with a secured after this is over;/ MW Bkrpt1C: U2.. at 18, you're best off wiping the slate clean. Credit got you into trouble... BEmory8705: It's to late now with court being next wednesday. U2Laurie: i think I couldn't borrow it all from him though MW Bkrpt1C: you're better off avoiding it if you can! U2Laurie: what if I want to get an apartment or house? MW Bkrpt1C: (Credt, that is, not borrowing from your boyfriend.. that could be okay. BEmory8705: The discharge date is the 23rd of December. Merry Christmas. MW Bkrpt1C: U2.. don't put the cart befoe the horse. Start with getting rid of this debt, MW Bkrpt1C: then you can worry about getting an aportment or house. BEmory8705: What happens after the discharge of the debts? MW Bkrpt1C: You'll be able to, in time, but start with the first steps, okay? Mashach5: A fresh start at financial freedom for Christmas! MW Mad Dog: U2...read the forum from from to back. it'll answer lots of your questions MW Bkrpt1C: BE.. usually, your lawyer shakes your hand and wishes you good luck! MW Bkrpt1C: Mash... just make sure you don't fall into those Xmas debtor blues!!!! MW Mad Dog: BE...then you ave a clean slate' Mashach5: No way!!!! We have learned!! MW Bkrpt1C: Atta girl, Kim!!!! BEmory8705: A clean slate to do what? Everything is pretty well ruined by then isn't it? MW Bkrpt1C: BE.. nope, not ruined! MW Bkrpt1C: That's why bankruptcy exists.. Mashach5: We get a substantial Christmas bonus. Looking forward to being able to use it for Christmas Mashach5: this year instead of bills. MW Bkrpt1C: To give consumers a second chance. BEmory8705: Not ruined? What then? MW Mad Dog: \BE...Then you start over. You just dont' have the hassles you had BEmory8705: Will we need a co-signer to buy a car? MW Bkrpt1C: BE.. you start fresh. You rebuild your life. Buy with cash. MW Bkrpt1C: BE.. you may at first, but George has more experience in that area.. George? Treasure78: MW's After BK can you get a car loan at a decent rate? Mashach5: A friend of mine just bought a new car 6 months after BK. MW Mad Dog: BE.. Once you have the BK you can buy a car nayehere MW Bkrpt1C: 8 minute warning.. MW Bkrpt1C: what are interset rates running at George? Mashach5: Got a better interest rate than I did with only some late, partial payments. BEmory8705: How big of a down payment? Mashach5: My friend traded a very old car, no cash. MW Mad Dog: MW...Interest rates for a BK to buy a car are about 21% BEmory8705: That I can do unless they take mine. Treasure78: Wow! Last car loan I had was at 5% MW Mad Dog: It's the only game in town. After you've paid on it for two years trade it in and get a better rate MW Bkrpt1C: George.. that's highway robbery!!!1 Treasure78: After 2 years, do you get a decent rate? BEmory8705: I have been paying almost 17% for the past 7 years on a car. Rhojem: home equity loan vs. 401 k loan? anyone want to chat MW Mad Dog: MW...Believe it or not 50%of the companes that do this are going out of business. Too many repos MW Bkrpt1C: I still think your best bet is to build up a relationship with your banker and get a Treasure78: You mean make loans to post BK's? MW Bkrpt1C: decent car loan through them. MW Bkrpt1C: My loan was 9%, back in 1993. SHOVELHD79: HOME EQUITY LOAN YOU PAY INTEREST TO THE BANK MW Mad Dog: MW..Of course...But if you a fresh BK you don't have tome to do this. Treasure78: Bkrpt...How long after was the 9% loan? SHOVELHD79: 401K, YOU SHOULD BE BORROWING FROM YOURSELF AT LOWER INTEREST MW Bkrpt1C: Susan.. discharged in 1988, so that would have been.. 5 yeras. MW Bkrpt1C: I bought a used car for cash before that, after my bk. Royekd: except if you're getting a good return, you dilute your compounding Rhojem: sh: but its a tax write off at year end for home equity, any advantages to either way MW Bkrpt1C: I had a defaulteld car loan included in the bk. MW Bkrpt1C: four minute warning... Treasure78: 9% is good. Treasure78: but 5 years BEmory8705: What about buying a house after BK? MW Mad Dog: BE...Hapopens all the time MW Bkrpt1C: I bought mine after 6 years.. but remember, I tookk the MW Bkrpt1C: long road back to credit-worthiness. BEmory8705: Is there a waiting period? MW Bkrpt1C: My sister in law got her home one year ater bk.ê Treasure78: BE..you will get a better mtg rate as time passes after the BK SHOVELHD79: RH: YES, BUT IT IS ACTUAL DEBT TO THE BANK, 401K COULD BE USED AS A WASH SHOVELHD79: LOAN MW Bkrpt1C: Treasure.. I waited 5 years to get the car beacuse my used honda ran great.. MW Mad Dog: BE...Use to be 2 years till a home loan...Now it's a few months MW Bkrpt1C: i finally needed a car to impress clients, and gave in! Treasure78: Bkrpt..Oh, a Honda. They are great cars. Never seem to break. BEmory8705: I still own my home but my husband wants to retire in a year and a half. What about then? MW Mad Dog: Bye all...... MW Bkrpt1C: BE.. that's a great question.. .but it will have ato wait until next week!!!! MW Bkrpt1C: Class is over, folks!!! gotta go!!! MW Bkrpt1C: Thanks everyone for coming!!! Please com e back again next BEmory8705: Ok Nighty night!!!!!!!!!!!!!! Treasure78: Good nite all U2Laurie: good night MW Bkrpt1C: Thursday at 10pm est.. or visit us on the managing debt credit boards!!! U2Laurie: i wish you all luck Mashach5: Paula, goodnight, God bless and thank you for your commitment to these people in here. MW Bkrpt1C: Night Kim, Susan! SHOVELHD79: HAVE TO GO TOO.. GUTEN NACHT MW Bkrpt1C: Thanks for coming!!!