My Credit Card Payments Are Usually a Few Weeks Late. – Magic

“Dear Steve,

We have 38000 credit card debt and make my payments but usually are a few weeks late. I have a mortgage 110 owed a home equity which was used for remodling only balance 90000 my homes worth today 310000 interest rate is 6 percent on both loans my credit score is mid 700s.

I retired with a 40000 per year fixed income my wife has bad credit her score is 520 we wanted to refinance our mortgage and equity loan at 4 7/8 saving us over 700 per month giving us the ability to pay everything ontime problem is her credit is preventing us from refinancing and i dont make enough money in my name to get the loan myself.

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

Without the refi i can see us sinking into major problems any suggestions i know with the refi it can work i dont trust online companies ive only dealt with our mortgage broker who is a great friend and our local banks help

Can you suggest help for the problem above


Dear Magic,

The credit card payments being made a few weeks late is certainly not helping here. It is leaving you constantly delinquent and pounding your credit score.

I’m curious what your mortgage broker friend said when you approached him for a refi? Were you rejected, and if so, why?

Damon Day - Pro Debt Coach

Follow Me
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
Steve Rhode
Follow Me
Latest posts by Steve Rhode (see all)
See also  How Can We Find Someone to Refinance Our Home? - Kathy

2 thoughts on “My Credit Card Payments Are Usually a Few Weeks Late. – Magic”

  1. question about debt you answered steve my mortgage broker friend said he could not get me a refi that wasnt fha because of my wifes 520 credit score my score of 765 was great but i myself do not show enough income to get it without her name applied i was refinancing 196000 and my homes worth 300000

    What should i do with the refi as my debts too high

    • If you are already making your payments weeks late that tells me you don’t have enough money to meet your regular expenses. Even if you found yourself in this situation by a one time event, you are not making enough for you to get caught up.

      What debts and how much are in your wife’s name and are they joint debts?



Leave a Comment