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My husband has lost his imcome which has caused us to live…

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My husband has lost his...
My husband has lost his imcome which has caused us to live off of our savings. I now have to back to work and recently started a business. I wanted to get minority certified but found out my credit is affected by the leins placed on our property. Needless to say our credit is shot, and any loans from the governmnet and CERTIFICATION APPLICATIONS ARE OFF LIMITS TO ME BECAUSE OF THIS HOW CAN i MAKE THIS WORK OR SHOULD i REALIZE THAT NOTHING CAN BE DONE?
Submitted: 8 years ago.Category: Finance
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Answered in 1 hour by:
6/28/2010
Financial Professional: Eric, Financial Manager replied 8 years ago
Eric
Eric, Financial Manager
Category: Finance
Satisfied Customers: 559
Experience: Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.
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I appreciate the opportunity to help!

Maybe you can provide some more detail. What State do you live?

Are you looking for some ideas or just clarification on government help for your business?

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Customer reply replied 8 years ago

I live in NH. I am looking for clarification and help. We file jointly ishould I file married filing separately and if so do I have to wait until next year for this to work or is it retroactive? This is just one question because I am not sure whatelse I can do.

 

Financial Professional: Eric, Financial Manager replied 8 years ago

It's definitely a difficult situation for sure. Trying to separate your finances as a married couple is not a bad idea, but to start doing that now may be too late. You can definitely do that, but it would take another tax return for 2010 to be able to show that it's separate. If you have joint credit that is causing the low credit scores, then there is not much you can do about that in a hurry. It will take time to clear up the credit.

If you have a business and you're trying to get loans, that will be tough since it's new. I'm not sure how much government help you can or cannot get for a minority business if you have some bad credit issues. It's a different world in lending money these days and much more difficult. But...the government is trying to help small business right now and I would not hesitate to try and get minority certified anyway. Apply for loans/programs anyway. Worse case is they say no...

Eric
Eric, Financial Manager
Category: Finance
Satisfied Customers: 559
Experience: Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.
Verified
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Customer reply replied 8 years ago

Your answer was nothing I haven't researched on my own.

I thank you for responding to my question, but I would not say it was an experts' response. I do thank you for responding anyway.

 

Financial Professional: Eric, Financial Manager replied 8 years ago
What add'l information were you looking for? I apologize if you did not get the information you were looking for. Let me know if there is anything further I can help with.
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