The credit bureaus would report your house payments as long as you are current, but they come off if you get behind. Sorry, but we don’t have that choice. After bankruptcy mortgage payments–current or late–don’t show on your credit. That’s just the way it is.

Do you have to pay credit card debt with social security?

I was forcibly retired last year and am paying 8 credit card bills -1 in collection – with an income of ss and pension only. I can’t do it anymore. What do i do?

Can a person stop paying a credit card debt?

If you honestly incurred the debt without breaking any laws, you can stop paying it at any time. However, be aware that this will severely damage your credit, may get you sued, and may subject you to collection letters and phone calls. Those who are not working or have little assets to lose are not likely to be sued.

When to settle credit card bills to avoid bankruptcy?

If your answer is less than 24 months, settling these credit card bills may be the answer to avoid bankruptcy. Keep in mind that some creditors will accept settlement far lower than 50%. The review post about what major credit card lenders settle for is fairly accurate.

Can a mortgage be refinanced with only one spouse?

However, what we see as lenders more often is that if both spouses are in title, but only one spouse is on the mortgage, there may have been a credit issue at the time the original mortgage was funded. As an example, your spouse had a bankruptcy when you were purchasing and you qualified for the mortgage with only one income.

What was the year in bankruptcy in 2008?

In last year’s edition of “The Year in Bankruptcy,” we referred to a “looming specter of recession” in the U.S. near the end of 2007 triggered by the subprime-mortgage meltdown and resulting credit crunch. The recession arrived in 2008. What’s more, it proved to be global rather than American.

Can you refinance with your husband on the title?

The short answer is yes. If you and your husband are both on the current deed you can refinance with either of you on the mortgage note itself. Both of you would remain on title (deeded owners).