Quote:
Originally Posted by irishgrl
just so you know, the items on the credit report werent unrelated, they were the exact items that were included, but for some unexplained reason each of them had up to $200 still showing and this was AFTER (a YEAR after mind you) the bankruptcy was discharged.
Any creditor who moans and groans about a lost 20% when they got paid 80% is an ASS.
Yes my friend got bad advice. He regrets this more than you know. He says that considering the way he's being treated in the credit world, he'd have been better off going the ch7 route (he says he qualified). They say no good deed goes unpunished, and I agree.
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It was not just 20% - they lost likely thousands in interest. And, I think everyone who owes you money in the future should pay you at 80% and with no interest they contracted to pay and on which you base your income. Better yet, your employer should pay you 80% of your contracted wage. Let's see how you like that
Having said that, I am sorry your friend went through this. And, I suggest contacting the credit reporting agencies and disputing the items -- then provide them with a copy of the dischage. That should remedy it.
Also, if he gets a credit card (even one requiring a deposit) and charges a little on it every month and pays it off each month -- maybe leave a balanace every other month, his credit will begin rebuilding itself. I know people two or so years out of a seven or 13 who get mortgages at market rates, especially if they have a good income. The trick is to shop around.