Which would look better?

I have a lot in charge offs from my divorce. I started paying on them this month since I finally paid off all of my ex wife’s debts this month.

Which would be viewed more favorably in an MBI? 1) My own debt repayment spreadsheet (including charge offs) which show repayment in less than 4 years? Including Credit card statements from the last six months showing that I have not added to the balances and have paid the amounts in my spreadsheet?

A debt management program from certified counselor that has repayment in 52 months?

There are no MBIs anymore. Any more information on clearance level?

My bad. Tier 2 for public trust.

The sooner you address the delinquent debts the better. They are looking for a pattern of paying them off, negotiating settlements, having payments plans in place. You will need to provide this evidence to the BI.

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I already started the payment plans (with initial deposits) in May with automatic payments on them monthly. I would’ve done it sooner but the repayment plan on my ex wife’s debt ended this month coincidentally . She’s agreed to provide proof of that. My main concern was if a debt management program was more beneficial to me on paper.

I think that any evidence of a payment plan with the creditors is very important as opposed to just your own spreadsheet. Letters from the creditors that you are in a payment agreement is important.

Ill be providing that as well.

Either will work in your favor, they care less about how long repayment will take and more about the fact that you are addressing the debt and how you got in debt in the first place. They also understand the fallout that can occur in a divorce and that will be taken into account.


Thank you for your response. A lot of people on forums try to just say I should’ve done this and that differently in my divorce, which I am well aware by this point lol. I have a child so maintaining the peace was my top priority.

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Well . . . Maybe you should have done something differently but how would I know? That’s not what you asked about. I’m in the process of dealing with my own divorce right now and understand the urge to “keep the peace” . . .