No. of Recommendations: 7
GRRRR! Please forgive me for ranting on you - but it seems that most of the people here have a problem with reading or else I've really been grossly inable to get my point across...

Here is a quote from my initial post on the subject:
"then I've offered to pay them 50 percent, over a 12 month period. "

Does anyone really think that I intended to get a house now, paying down payments, closing costs, moving expenses and all, PLUS pay for 12 months?


Yes, actually, I did think that. At no place in your post do you say that you are not going to buy a house UNTIL you have paid off the negotiated balances.

Ultimately, it's your bills, your life, your credit, your family. All the posting in the world is not going to change that; you are free to do whatever it is you want to do.

That said, however, there are lots of folks on this board who have worked their way out of debt, paid it all back, 100%, and feel pretty darned good about it. I know that I personally, could have paid less on my debt, I personally would not have felt very good about that.

By the way, if your creditors have employed tactics that are illegal under FCRA, etc. fight them legitimately. When you said you were going to pay your bills back at 50%, a lot of people got their hackles up because it sounded like you were only paying half the total debt, not half the debt plus fees and penalties, etc. Perhaps if you had made it clear that you were paying 100% of the actual debt, and negotiating on the fees, etc. people might have been a bit more sympathetic.

BTW, that's the tack I would take with the creditors, too. Rather than just telling them that you would pay 50%, I personally would offer the full amount of the actual debt incurred (in one lump sum as you accrue it), and then offering 25 cents on the dollar on the late fees, etc.

By the way, one thing that seems inconsistent in your posts is that one reason you need the bigger house is your teenage daughter, who needs her own room. We know she has a car, so she's at least 16. If you are not planning to buy a house for at least a year, plus the time it takes to save a downpayment, won't your daughter be out of the house by then, in college? That may be another reason for some of the confusion in your posts.

I suggest that you read some of the posts made by various Fools here, just for some inspiration as you proceed with whatever you decide to do. They are stories of courage and of impressive personal responsibility. Several people have probably paid back a greater amount of relative debt (as measured by debt to income ratio) than what you have. These are stories of sacrifice and of great integrity.

http://boards.fool.com/Message.asp?mid=14796459&sort=recommendations

http://boards.fool.com/Message.asp?mid=17423916&sort=recommendations

http://boards.fool.com/Message.asp?mid=18984128&sort=recommendations
and many other posts by mlk58. SHe has been a real inspiration to me.

http://boards.fool.com/Message.asp?mid=17712625&sort=recommendations

http://boards.fool.com/Message.asp?mid=13163631&sort=recommendations

http://boards.fool.com/Message.asp?mid=17394149&sort=recommendations

RMB
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