FatCat's Money Confessions

FatCat's MoneyConfessions - helping you save (& make) money, one click at a time

My husband and I went bankrupt and are now discharged and we are trying our hardest to save for a house, we can only save approx $800 per month and we are renting at $1130 per month.  We are wondering if there is anyone else out there that has been in the same position with 2 people going bankrupt and applying for a home loan.  We have had discussions with the bank and they have inticated that we may have a chance but we are a little scared if we save our hardest and they still knock us back.  We have started buildind our credit up, I have always paid our credit card off on time and have never been late with a payment and there is nothing on our credit file except our bankrupcy and our bills are always paid on time.  Is there every a time were we wont pay for going bankrupt or should we be hesitant and accept the fact we wont get anywhere in life now????

Tags: Are, Bankruptcy??, a, able, after, buy, house, to, we

Views: 26

Reply to This

Replies to This Discussion

It will stay on your credit file for 5 years. You will get to start over.
Go through a building society or credit union as they seem to be better to deal with in my experience.
We have bought 3 houses since Bankruptcy Part IX.
It can be done but keep saving and never draw on your savings under any circumstances. They want to see regular deposits and no withdrawls. Get rid of your credit card also as that will go against you in a home loan application. get one after you get your loan.
Thats what they want to see.
Good luck :)

RSS

Latest Activity

Profile Icon
Sam is now a member of FatCat's Money Confessions Sunday
Profile Icon
Dre is now a member of FatCat's Money Confessions Feb 2
Profile Icon
Mark is now a member of FatCat's Money Confessions Jan 9
Profile Icon
Keith Musgrave replied to Nikky Simpson's discussion 'My Rate'
Hi Nikky, Apologies for the delay, I have been away on hols and a little time off due to illness. All better now. Has your' lender dropped their rates any further since we last communicated? Depending on your' total debt amount, you should…
Oct 20, 2011

FatCat news

How to Score Big Branding Wins

Big brand success is built on meaningful product or service innovation.

How To Have A Frugal (And Fabulous) February

Natalie P. McNeal is marking her fifth annual No-Buy Month, a project in which she swears off all non-essential purchases during February.

Chinese Deflation and Currency Depreciation Coming Soon

The last month that China saw a year-on-year decline in consumer prices was October 2009.

How to Deal With Really Tough Criticism: Five Steps

We rarely discuss dealing with criticism as a necessary part of leadership.

Ten Reasons NOT To Invest In Facebook

Financial Advisor, Rob Black, Wealth Preservation & Retirement Planning, points to a couple of red flags.

Badge

Loading…

© 2012   Created by FatCat.

Badges  |  Report an Issue  |  Terms of Service