April 3rd, 2006 by Questions
I chose to use a counselling service when I was having financial trouble two years ago. I have two years left until I am debt free. I have paid 30,000 thus for a debt that was originally 60,000 dollars. I had to destroy my credit cards and agree not to apply for any more . The service consolidated all my individual accounts into one payment per month. The interest was suspended on my accounts or a very small percentage was used . Interest charges is one of the reasons I got into this trouble. I want to start rebuilding my credit now. I would have to ask for permission to do so.
I am interested in buying a new car or a house. I don’t want to apply for credit cards. I likely won’t ever apply for credit cards again in my life. Would I have any chance of getting approved for a house or a car? I would seek permission from my counsellor first. My father told me that he would loan me $ 9000, but would not co-sign for me. I Have no one else to co-sign for me. I earn $4200 a month net. My expenses and the payment I make to tne counselling service accounts for only half of what I take home . I was not earning this amount two years ago (I was promoted last year and it doubled my salary. I see advertisements on TV that everyone is approved for a car . They would approve people who had gone bankrupt or were still in the bankruptcy process. Do you think i would be approved for a new car with a 9000 thousand down payment? Maybe they won’t loan me money until my past debt is paid in full .