For now, I just wanted to say one more thing about your credit scores before I leave the topic for now! I recently assistaed a client with a mortgage application and must be very careful here about what I say due to confidentiality. But, what struck me was that this individual had a Chapter 7 in his not that distant past and his (not necessarily a man by the way!) credit scores were very high considering the public record, etc. I asked him about how that was and what he explained was exactly what I have always thought and professed to others. Simply put, he continued to struggle to make his payments through the Bankruptcy process. He discharged the accounts he knew he had to but continued to make payments on those accounts and all others that he reaffirmed after the Bankruptcy was completed! Yes, his scores di go lower initially, but only for a very short time. He even went out and got new credit, including a car loan at a rather decent interest rate!
I hope that none of you reading this post every have need to file such an action, but if you do, keep your payments current if you can, especially the ones you intend to reaffirm!
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