dilema

[hugo2000]

What is the name of your state? washington state
hello I need please some advise , I have $25.000 in debts since 5 years I lost my job and just 3 years ago I have a full time job ,well i start over again ;I was working in a telecom company they declared in Banckrupt ,now ; I am doing a really diferent job , anyway I cannot pay this money and I am in the middle to declared in banckrupt because the new law is coming this following month ,since this consumer credit counseling companies will charge more than $300.00 a month more than that with my income I cannot afforted ...if I do it will be bad if I want to but a condo or house ? how come some people declare in banckrupt and buy a house , have acredit card ....?...thanks

[Ladynred]

I THINK I understand your question.

Bankrutpcy WILL affect your ability to buy a house for a few years. Some people get mortgages the day after their discharge, but their interest rates are usually quite high. With some credit repair and careful rebuilding after discharge, you could get a decent mortgage rate from the FHA. For a conventional loan it may take 3-4 years.