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| NAME: James |
AGE: 48 |
Occupation:
General Foreman | |
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| Personal Stories |
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That was five years ago. Over time our finances improved. I got promoted to a permanent position. We were able to pay our bills each month and even started putting money back in our savings account. But I wanted something more. Our family had always rented — at first because we were following construction jobs all around the country, and later because of our credit. I thought that after a bankruptcy we would never be able to get a loan to buy our own home, but I was surprised to find out that we could.
Working with a non-profit home loan counseling center, we learned that our situation was not as bad as we had thought. There is no “quick fix” for our credit — the bankruptcy will stay on our record for up to 10 years. But the counselor explained that several things worked in our favor. By then, both Linda and I had stable employment, we had re-established credit by paying our bills reliably since the bankruptcy, and we even had a savings plan. More >
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