NoSoup

In theory, it should fall off 7 years after the collection was opened, so it really depends on when that was. Cynthetiq was right on the money when he said that it causes issues when companies sell debts back and forth to each other. Had that not been sold to a collection company, it would have fallen off 7 years after that "write-off" status had been put on your report. The next time the collection agency calls you, see if they are willing to negotiate a lower fee in order to clear the debt.

I hope this helps! If you have any more questions, just ask!

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Gaud

My wife and I filed for bankruptcy back in Febuary of this year, and I was wondering. How soon after the bankruptcy is completed can you begin to see your credit rating go back up? Any tips on how to raise it at a decent rate over time...We'd like to eventually get a home, but we really need a car ATM...

Thanks,
Ben

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yellowchef

Ok, I dont really have credit and Id venture to say the credit I do have is bad. Lately Ive run into a major string of finacial trouble and there is little I can do about it. Im only 20 and have applied for credit cards before, all being denied for reasons unknown now. Id really like a credit card for the emergencies Ive encountered and for the situation I am in now it would HELP greatly.(300% interest or not) anything helps atm. I dont really have family options as my family is helping me a lot with other things, they do a lot by taking care of a few things for me that I know go well beyond their means. I just dont understand it all and that why I cant even get one of those dumb Bank Student Credit Card thingies at god awful interest levels.

NoSoup

Sorry for the delay -

Basically, you scores will slowly begin to rise as soon as your bankruptcy is discharged. To help them increase faster, I would suggest opening some new trade lines - and always, always, always pay them on time. This is especially important once you have declared bankruptcy, as some lenders will lend out after bankruptcy, but only if there isn't a single late payment after it is discharged. To begin getting some credit back, I would suggest opening some secured lines of credit, possibly a secured credit card as well.

If you need anything else, just let me know!

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NoSoup

Hmm... It is difficult to help you as there are very few details in your post, but I'll do my best

First of all, If you run into financial trouble, it is typically a bad idea to take out high interst loans for a temporary solution. Of course, there are exceptions to every rule, but typically it is not advised. You may want to consider other options, such as decreasing your living expenses or obtaining additional income via a second (or third) job.

The reason you are likely not getting approved for the credit cards is difficult to determine, but I would imagine it would be due to the bad credit you had mentioned. Even the worst credit cards still have underwriting (approval) guidelines - and even though they might not be that stringent, you still must qualify.

Hopefully this helped you out - if you care to get a little more detailed with your situation, I may be able to offer more specific advice. Until then, good luck!

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yellowchef

Thank you for responding but I think I am an exception to the rule.


right I do understand I must qualify(though I know people who have had cars reposessed and still get approved) but I cant get a second job. As it is Im in school from 9-5 mon-thurs(9:40-5pm T/Th 7:30-5p M/W) and my temp staffing job allows me to work from 5p(more like 6p) to 1 am and on Fri-Sun I work 2pm to 10pm. Id get a second job but I have to study and sleep and pretend I care about being a human sometime. As it is I dont pay for my groceries(my bf does) and I dont pay my car insurance(I love dad) Id move on campus BUT it involves adding $7,600 to my tuiton and moving home at the end of the school year..then moving back once it begins, quitting a job I might get, or giving up this great flexible temp job that keeps me alive and allows me to look for another real job and not be working the corner. Though it has crossed my mind. So as it is I live on a poor college kids budget.

I dont go out.. if I do the bf pays. Even the cat food.. bf pays. I have more than worn out my welcome with my parents(and they keep giving) and by giving I mean they have probably sold their souls to help me but they cant give me enough to get out of this mess.

MacGuyver

I hope you still read this thread, but...

I am 18 and looking to get an auto loan. I'm not that good with money at all and I have NO idea how it works, all I know is that they give me money to pay for a car, and I pay it back over time. Do you have a guide or any important points to help me through getting an auto loan and how it works, to make sure I dont mess up somewhere and get on the bad side of the bank?

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NoSoup

Yep, still do

Basically, what the bank will do is give you money for a vehicle, and you pay it back over time - with interest - of course. They will file a lien on the vehicle, which basically means that if you don't make your payments, they have the option to take it away from you and sell it.

You will be more likely to get the loan if you have either a co-signer or previous credit, and also if you have a downpayment for the vehicle.

You will also be required to carry full coverage insurance on any vehicle that has a lien on it, to protect the financial institution lending you the money.

If you are going to shop around to compare rates, do so on the same day, as it will damage your credit rating less. To stay on the "good side" of the bank, all you have to do is make your payments on time and keep your insurance current.

Hope this helps - if you have any more questions, just ask!

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EULA

How common/easy is it to receive 7(a) loan guarantees from the small business administration for setting up a business? (I'm considering taking out 10-20k to start up a recording studio.)

Averett

Hey again NoSoup!

I've asked questions before and you've been very hepful, thanks for that.

As you might remember, I've got credit card debt up to my ears. I've committed myself to pay them off as quickly as I can. I set up a budget for myself and it looks like i'll be debt free (under my current budget) by 2008. That's about $19,000 paid off.

So, my question is about my credit score. Last April I purchased my credit score online and found it to be about 650. I just checked it again last week and it was 680. I'm curious to see if it's a good idea to check my rating once a year. Or if that even is worth it. I was actually surprised to see that the rating went up. I've aquired quite a bit of credit card debt since last April, so I was sure the rating would go down. But I didn't account for the fact that I paid off a lot of my car loan in that time as well.

Anyway, to recap, is it worth it to check my credit score yearly? And how quickly will it take to make my credit score go up? The negitives I have on my report are that I have high balances based on the credit available, that I've applied for quite a few cards, and that I had one credit card that was over 60 days past due. And that was a whole big crappy situation with Best Buy back in 2000. May Best Buy rot in hell.

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NoSoup

Unfortunately, I am not very well versed in small business loans - typically, the commercial loans that I do are for purchase of real estate only, not to finance a company.

My apologies for not being any more help

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NoSoup

I would certainly recommend taking a look at your credit annually. To see the score is fine, but more importantly, make sure that everything is reporting accurately, and there aren't any accounts open under your name that you didn't open.

As you pay your balances down, your credit score will increase. In addition, as more time passes between any adverse reporting (Best Buy) and the present time, they less it will affect your score. One thing that will help your score a bit more is to have fewer inquiries on your bureau, by applying for credit only rarely, and when you are going to compare interest rates on a loan or card or see if you qualify, apply at several different companies on the same day, as it counts as only one inquiry.

Depending on the type of credit cards you have open, it may be beneficial for you to pay off any "retail" cards. Retail cards are cards that you are able to aquire at retail stores. Best Buy, Shopko, Victoria's Secret, Barnes and Noble, ect are all considered a step lower than conventional credit cards.

Unfortunately, there is no way to really predict how quickly your score will increase without me having a ton more information, and even then - predictions about such things are usually very.... approximate.

Hope this helped - if you have any more questions, please feel free to ask!

P.S. Congrats on setting up a budget and taking care of your credit card debt. It may be difficult, but it will save you an incredible sum of money and I bet will feel quite wonderful when you mail that last payment to the greedy bastards

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iamtheone

OK NoSoup. How the hell can I get out of my lease [SUV] without paying through the teeth!

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Averett

Thanks, NoSoup

I do have a few retail credit cards. At the moment, the only one with a balance is my Gap card, and that will be paid off soon.

You're right, it's going to be so nice when I mail off those last payments

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Tracybrian

What exactly are hard money loans?

NoSoup

My Apologies...

I don't think I can help you here, although I suppose you could check the terms of your lease and see if any of those terms are/have been broken...

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NoSoup

A hard money loan is a short-term bridge loan that is used for acquisitions, turnaround situations, foreclosures and bankruptcies. Interest rates, although high on business hard money loans, are less costly than taking on a financial partner(s) or losing the real estate opportunity altogether.

Hard money real estate loans are ideal for borrowers who are unable to obtain funding through a conventional source. The properties or the borrowers are often clouded by legal or operational problems. Business hard money loan lenders can often help solve the problems and get the property repositioned for a conventional refinance.

Hope this helps!

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Tracybrian

I need to know about Bridge loans. Is there a way to get one for folks who have a credit score lower then 620?

NoSoup

Basically, a bridge loan enables one to purchase a new home while paying little or no money towards their current home, ideally until it sells. Bridge loans can be structured to completely pay off the old home's mortgage or simply to add the financial obligation of the new home to your current debt.

Typically, you must obtain the bridge loan from the lender you use to finance your new home. Usually, the loan is structured with a short term (often one year or less) and a substantial amount of prepaid interest.

In most cases, a bridge loan is used to pay off the existing mortgage, with the remainder (minus closing costs and prepaid interest) going toward the down payment on the new home. If after six months the old home has not sold, the borrower begins making interest-only payments on the loan. When the home sells, the bridge loan is paid off. If it sells within the first six months, any unearned interest payments will be credited to you.

As far as obtaining one with a score of less than 620, it depends on the amount of equity you have in your current home.

However, even if a 620 borrower had a large amount of equity, it would still be extraordinarily difficult, if not impossible, to obtain a bridge loan for that borrower.

Hope this helps!

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Bryan26

I have total debt of $13,000 (not including my car) which includes $6,000 in one credit card and $7,000 in an engagement ring. I'm paying around $350 each per month just to pay a little more than the minimum. I just got married and considering buying a house in the near future. I was offered lines of credit from two different companies, but I'm not sure if this would hinder our chance of a loan. My Fico score is around 685 and my wife's is around 710. After all the bills I'm pretty much living paycheck to paycheck. What should i do? Thanks.

NoSoup

I know this can be hard to do, but I'd hold off on buying the house for a while until you are in a better financial position.

I assume that you are currently renting - if anything breaks, the landlord will fix (and pay!) for it. If you are currently just scraping by and you needed to get something expensive replaced/repaired in your home, you'd be in a world of hurt without a lot of options.

You have decent scores, but paying down your credit card balances would improve them further. Typically, if you are able to get your scores over 720 you'll qualify for the best pricing and most flexible programs.

I would recommend paying off your debts, and then saving up for a downpayment - a minimum of 5% of the purchase price + an extra couple of thousand for the costs involved. The more you can save up, the better position you'll be in, but there is a world of difference in interest rate for most 100% programs vs 95% programs.

You may want to take a look at the money you spend on a monthly basis, and see if there is anyway you can cut costs without sacrificing your lifestyle very much. Another option would be for you and/or your wife to get a part-time job for additional income. A combination of both would likely help get you where you want to be the fastest - but make sure that the money that you are saving/additional money you are earning is going towards your bills. After you have paid off your debt, use a bit of the money to reward yourself - you've earned it.

As far as the line of credit goes, I would check and re-check the terms that they are offering you. Make sure that it is actually advantageous for you to accept them, typcially transferring balances around will do nothing but damage your scores with the additional inquiries on your credit report. Often times the "personal line of credit" loans have outrageous interest rates and ridiculous pre-payment penalties.

When paying down your debt, make the minimum payment on all your debts with the exception of the account with the highest interest rate. Take every extra penny you can find and put it on that account. Once it is paid off, take all the payments you were paying on that account and roll it over to the next one with the highest interest rate. You'll likely be able to pay off the debts sooner than you think.

Hope this helps - good luck.

If you have any more questions, please feel free to ask!

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Tomservo

Thanks to NoSoup and the gang for providing a lot of good information here.

So here's my situation- I'm moving to a different state next year, for law school (WUSTL), but I'd like to begin the home buying process in advance of the move, since my financial situation is extremely better with the job I currently have. It'll be a modestly priced house (likely below $150k) that I'll be able to afford, so I'm not concerned about my lack of significant income during the first year or two of law school, I'm just concerned with getting a mortgage broker to give me the $150k in the first place.

Any recommendations? My wife and I are well above the income median for St. Louis (where we're going) with our L.A. jobs, but we'll likley be below the median while I'm in law school. Other key factors - we don't own currently (rent, for more than our St. Louis mortgage payment WILL be), and I'm currently the leasee of an apartment in St. Louis. Thereby- I'm wondering if I could claim that I've held a residence in St. Louis, but I work in Los Angeles, simply for the purpose of getting the loan? I realize that's misleading the broker, but getting the loan is of prime importance, and it's dishonest.

In the end, my wife and I just want to avoid throwing away three more years of rent payments when we'll be able to afford (and prefer) to buy.

Additionally, both our credit scores are slightly below 700, we have one car payment ($500+), and every credit balance is below 50%. Oh, and we have about a $10k 401k we may draw the down payment from, as future earnings should be significant enough to replace the money. Thanks in advance!

NoSoup

As I am only licensed in the state of Wisconsin, I am not sure if all this advice will be applicable or correct in St. Louis, but here is what I think based on my knowledge of the laws around here...

As far as residency is concerned, I don't think that will be much of an issue unless you are applying for government loans. Here in Wisconsin, we have no regulations concerning the borrower's current state of residency.

However, to qualify for owner occupied financing, you may have to sign documentation that you are planning on moving into the home within a set time frame - typically 30 days. Not that I am recommending doing this, but no lender I have worked with actually checked to see if the property is owner occupied.

As far as utilizing money from your 401(k) for the downpayment, It likely depends on your situation. If you are confident that you will be able to put enough away later for a comfortable retirement and could get better financing using those funds, I don't see any reason not to. Keep in mind, though, that the longer you wait to refill your retirement account the more money you will have to put in just to recieve the same amount upon retirement - compounding interest is your friend.

Your scores are decent, but I would improve them before buying a home - there is a world of difference with scores less than 700 or greater than 700... ideally, you can get your scores to 720+. Check out http://www.transunion.com for options on purchasing your scores. Buy a tri-merge (all three credit reporting agencies) as well as the option that tells you what your scores are. The report will let you know what is damaging your scores the most - fix whatever you can ASAP, as it could potentially save you tens of thousands of dollars in interest. Purchasing your scores yourself don't count as an inquiry, so it won't damage your scores.

Prepare for owning a home by having a bit of cash saved up for emergency repairs. Owning a home can get real expensive, real quick if a couple of major things go wrong in a short period of time.

Hopefully that helps - if you have any more questions, please feel free to ask!

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Stiltzkin

Maybe this is an idiot question, but what EXACTLY is APR? I need to know what it is in terms of actualy money that is spent... for example:
Let's say that I buy stuff in May with a credit card, and I don't pay the credit card company until June, is the APR a certain percentage of what I spent in May (in this example at least) that gets added on to what I owe them? Or is APR something I have to pay even if I don't use the card at all?
I need a credit card, and I need it bad. I just want one so I can get a cell phone.

EDIT: Greeneyes already addressed my question through instant messaging. Many thanks to her

I have another question that is probably less foolish...
I can't seem to get a credit card because I don't have enough "established credit"... well no shit. I hate credit card companies already... anyway, I was reading that each application for a credit card appears on my credit report. What bullshit. So now I have like 10 rejected applications, which, as I read, is pretty bad, because it makes me look desperate for credit. Well, fuck 'em. Anyway, I read that it's much easier to get a gasoline card, like with Chevron or something. Okay, that's great, but how much will I have to spend on that card until I have sufficient "established credit"? Or is it based on how long I've had the card? 'cause I really do need a cell phone.

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NoSoup

It doesn't actually show on your credit report that you were denied, just simply that companies had inquired regarding your current credit standings. Depending on the company, it may be easier to get a gasoline card to begin to establish credit, but instead of getting a card that doesn't offer the most spectacular terms while only being able to use it at very limited places, I would recommend just getting a secured credit card as well as possibly a secured installment loan to establish credit.

It will take a minimum of six months of continuous reporting to obtain a FICO score for the credit reporting agencies. The amount of money you spend on it doesn't matter, if you spend $1 on it each month and paid it off in full it would still report as being used, thereby establishing credit. Be careful, though, not to allow the balance of your card to exceed over 50% of the limit of the card, even if you are paying it off in full each month.

Hope this helps - if you have any more questions, just let me know

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jhoward124

First I would like to commend you for doing this. I dont know if I should be asking you or an attorney this question but I figured I would start with you first. A long time friend of mine has an outstanding online gambling debt with pay-pro, an online payment program based in Central America, of over $4200 and is in the clink for about 6 months. I read a question on this forum of the same sort however not under these same conditions. 2 questions, first what will happen if he neglects to pay the debt altogether since it out of the US and online gambling debts may not likely be enforced in the states. And second since it will be 6 months before he will be able to pay, what will likely happen between now and then. Thanks.

NoSoup

Alright, take everything I say with a grain of salt as I am not very well versed in the specifics of international debt, or specifically gambling debt either...

From my understanding, your friends debt is not going to be considered an "online gambling debt." If he owed money directly to the online casino, it likely would be, but I think pay-pro is just a service that allows one to transfer money to the casino. If that is the case, I'd imagine it will likely follow the same course as all debts that go delinquent in the states - they go to collections.

As it will be 6 months before he pays, It's likely that his debt will be sold to a collection company long before he gets out. Terribly bad for his credit, but he'll have a much better chance of negotiating the debt down to a lesser amount. Depending on how his credit is at the time, if it is really, really terrible, he might just want to not pay it for a while, as the longer you wait to pay a collection agency the more they are typically willing to negotiate.

Normally I wouldn't recommend keeping a collection out there, but I'm going to imagine that since he won't be able to pay that because he's locked up for six months, his other debts won't get paid either - effectively ruining his credit. If that's the case, bankruptcy would be an option I would seriously consider, depending on how bad his situation is.

Good luck - hope this helped!

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Livia Regina

I am a junior in college and right before the semester ended I found out that my loan for the semester had been declined because my cosigner lost his job. I have asked my family if they will help me and my parents are the only ones who might be willing. The only problem is that if they agree to cosign they want me to live at home and go to a school closer to home (my parents live in Colorado and I go to school in Michigan). With one year left, I don't want to have to transfer. I do not have the credit necessary to apply for a loan on my own (it's not bad credit, I just don't have two years worth of credit history). Federal loans are not an option as my college does not accept federal money. Are there places where I could get a loan without a cosigner or with a cosigner who has excellent credit but no job?

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NoSoup

Well, you may not have to have two full years of credit history to qualify for a loan. I would suggest applying just to see if you can qualify.

A couple of things I would suggest - first of all, you may want to have a sit-down conversation with your parents, where you explain your reasoning behind wanted to stay where you are. You should also find out the reasoning why they want you to move back home and change schools. See if you can work out your differences and come to a conslusion that way.

As far as your questions regarding loans go, I would imagine the answer is "yes" to both your questions. As long as you have some credit, you should be able to get a signature loan - obviously, if you have poor credit or don't fall neatly into the underwriting guidelines, you probably won't get favorable interest rates or loan terms, but it may be a viable last resort. As far as your current co-signer, it is possible for someone with excellent credit to get a loan without a job - I am not familiar with the Colorado area, but you probably have several different options when it comes to getting loans. If you are looking at education specific loans with your cosigner, they may have different guidelines and not be able to approve him/her without a job. However, you could take a look at a couple more... unconventional... ways of financing school, such as taking out a signature loan or potentially even a mortgage. Obviously, your co-signer would have to have a home with equity in it and be willing to risk it for you, but providing that is feasible there are loan programs out there where the lender doesn't verify the borrowers income, assets, or even if they have a job. As far as the latter two options, though, you would have to begin making payments immediately - probably not an issue of you are working right now, but if you are just going to school full time it may be difficult to balance those payments in with your meager (I'm guessing) typical college student budget.

Hopefully this helped, if you have any more questions, please ask!

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Cynthetiq

q: regarding corporate credit cards in one's own name.


Wife goes on business trip, makes all charges. Is instructed by boss to let first bill come and let it go unpaid, pay on second month once expenses check has been cut and paid.

does that missed month count against her credit score or show up at any time?

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greeneyes

Corporate credit cards should not be showing up on your credit score. You are an authorized user, not the primary. My corporate credit card has never shown up on my Beacon.

(Sorry to jump in and hog your thread, No Soup... I am a loan officer myself so I'm not just talking out of my ass. )

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Disk_Pusher

Dear NoSoup and greeneyes,

Thanks for doing this - I've been learning a lot by reading this thread. I've got a problem of my own making, and I'm not sure what to do, nor is my family (who has never had a credit problem in their life other than that they NEVER carry a balance...).

I had a cell phone through Sprint when I was 19. About 9 months ago, my financial situation came to be that I could not make payments on it anymore, nor could I afford the $200 terminate contract fee. I called Sprint, who told me to pay or... well, PAY. Well, I can't make money out of thin air, and my financial situation did not clear up within these 9 months. I found out today that $500 has gone to collections from Sprint.

What should I do next? How do I take care of this so that maybe, one day, I'll have a chance at getting a home/auto loan? My credit report now consists of one negative deliquent account, which looks miserable I know. Had I the resources to take care of this before it went to collections, I would have. I'm not going to bore you with why I couldn't - like they say, money problems are full of drama.

Thanks for your input.

NoSoup

Greeneyes is correct - as she is only an authorized user, it shouldn't show up on her bureau - however, I have seen it happen, relatively frequently, where the card that a person is only an authorized user has it reported to their bureau. Fortunately, they are able to remove it by contacting the credit reporting agencies - a bit of a hassle, but usually worth the effort.

Greeneyes: Not a problem - glad to have the help and someone checking my work

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NoSoup

Well, I would recommend that you contact the collection agency - if you have the money to pay it off, offer to pay the full amount - providing they will take it off the credit bureau all together. Hopefully that will work - you may be able to negotiate the debt down, but they will be less likely to be lenient with the bureau if you don't give them all the money.

If they refuse, you have nothing to lose by negotiating the amount of debt down and at least getting it closed. Time is your friend - unfortunately, you just learned a tough lesson that will affect you for the next seven years, but it will hurt less and less as time goes on. I would suggest you start building some credit up to help get you set up for when you want that auto/home loan - it's never too early to start.

For a bit of additional info on building credit, you can refer to this link. If you have any extra questions, please let me know!

Also, if you have any questions regarding the specifics of negotiating with collection agencies, feel free to either post em or send me a PM.

Good Luck!

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Brewmaniac

NoSoup & everyone else thanks for providing this valuable service!

I have extensive medical bills the last few years and now have more than $25k in Unsecured Debt with a balloon note for $25k up in 6 years. Should I try credit counceling or continue just trying to pay it down? If I could just get the one card with $18k on it to give me a fair int. rate we could do it. But they won't budge off a 27.4% rate! Assholes! Thanks for any advice.

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NoSoup

How is your current credit standing? Do you have 25k in Unsecured debt on the balloon loan with an additional 18k credit card balanced at 27.4%?

At this point, I wouldn't recommend credit counseling. You are paying for a service that may not be beneficial to you at all, not to mention something you can do yourself. More importantly, getting credit counseling is roughly the equivalent of declaring bankruptcy when it comes to the negative impact it will have on your credit report.

Hope this helps - and I might be able to help a bit more once those other questions are answered

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Brewmaniac

Last June we had an Experian score of 729. We have an 18k credit card balanced at 27.4% on one card and probably another 8-10k on other cards. A 25k home equity balance due in 6 yrs. We are now trying to pay more than minimum payments but it's tough. If there's any way get that 27.4% rate down it would be easier. Now they take $450 out of $500 for interest every month. We've tried to get them to lower their rate but they won't budge. Any suggestions would be greatly appreciated!

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NoSoup

Well, with a score that high, you certainly shouldn't have an issue getting it lowered. Try applying for a different card - at least one with a lower rate, but ideally one with a 0% Intro.

I personally have a Chase Platinum that gives me 0% interest on balance transfers and purchases until something ridiculous - like December of 2008.

If you can get a card like that, the additional $450 that is going to interest would be going towards principle instead - a huge difference, as I'm sure you'll note. Paying at least $500.00 off in principle each month will make the balance drop quickly.

If you are unable to get a card with a high enough credit limit, I would take a look at getting a couple and spreading the balances around at 0% (or at least much lower) interest rates.

You're in a tough situation, but I think it will be easier than you think to get out of - best of luck!

If I can be of any more service to you, please let me know!

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Johnny Pyro

Hi NoSoup,

I filed chapter 7 banruptcy about a year ago. I need a loan for about $3000(Personal loan). No bank wants to hear me. They said I would need a strong co-signer. I don't have one. I was $28,000 in debt by the time I was 21. My question is, how would I get a loan, if I can even get one? Are there any special programs I can go through to better my chances. I am ignorant to this subject. Please help me!

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"From delusion lead me to truth, from darkness lead me to light, from death lead me to eternal life. - Sheriff John Wydell

NoSoup

Well, a couple of questions for you -

Have you attempted to re-establish credit since your bankruptcy?
Do you have anything that you can use as collateral? (Life Insurance, Vehicle with equity in it, Stocks/Bonds, ect)
What do you need the money for, is it worth paying a completely ridiculous amount of interest on?

$28,000.00 is a lot of debt, but whether or not you declared bankruptcy should have been more dependant on the type of debt that you had.

For instance, I am well over $250,000.00 in debt and I am only 21 as well...
However, the vast majority of that is because I just purchased a duplex, so I feel pretty comfortable with it, as the duplex is an investment.

Although it's a bit late, what type of debts did you have? Are you avoiding putting yourself in the same situation again?

__________________
I have an aura of reliability and good judgement.

Just in case you were wondering...