Coclopo

3 Contributions 5 People Helped

Member Since: February 2013

Most Helpful Contribution

Recovering from Bankruptcy

Jan 29, 2014
Helpful to 4 out of 4 people

After a long, debilitating illness, I had no choice but to file Ch.7 Bankruptcy.  During my illness, I was not able to work much and "burned through" my savings.  At that point, I ran up a very large credit card debt, just to keep my family going.  The experience was somewhat stressful and my lawyer wasn't a great communicator(don't necessarily select the attorney with the big, flashy ad), so it didn't go as smoothly as it could have.  I didn't lose any property but was shocked when the Trustee wanted to do an inspection of the estate(my lawyer told me that this almost never happens).  I think it was probably because of the amount of credit card debt and they just wanted to make sure that I wasn't hiding assets.  The man who came was very nice and the process took less than five minutes, since my house was not full of antiques, electronics, jewelry, etc.  The 341 Meeting went fine and I waited for my discharge.  Then I received a letter from the Clerk that I had not filed my Post Bankruptcy Debtor Education course certificate and that I had a week or my bankruptcy would be dismissed.  I had completed it online and my lawyer should have submitted it to the court.  I printed it off and delivered it to the clerk myself.  I received my discharge a few days later.  That was 8 months ago and my credit is already recovering very well.  I reaffirmed an auto loan, a home equity loan, and a mortgage and that helped a lot as I have a long payment history.  I have yet to apply for a creit card but i'm not in a great hurry as I can do almost anything with my debit card(Visa logo) that I could do with a credit card.  My best advice would be to do your homework and find a reputable lawyer.  It will make the process much more bearable.

Activity (3 Total Contributions)

Recovering from Bankruptcy

Jan 29, 2014
Helpful to 4 out of 4 people

After a long, debilitating illness, I had no choice but to file Ch.7 Bankruptcy.  During my illness, I was not able to work much and "burned through" my savings.  At that point, I ran up a very large credit card debt, just to keep my family going.  The experience was somewhat stressful and my lawyer wasn't a great communicator(don't necessarily select the attorney with the big, flashy ad), so it didn't go as smoothly as it could have.  I didn't lose any property but was shocked when the Trustee wanted to do an inspection of the estate(my lawyer told me that this almost never happens).  I think it was probably because of the amount of credit card debt and they just wanted to make sure that I wasn't hiding assets.  The man who came was very nice and the process took less than five minutes, since my house was not full of antiques, electronics, jewelry, etc.  The 341 Meeting went fine and I waited for my discharge.  Then I received a letter from the Clerk that I had not filed my Post Bankruptcy Debtor Education course certificate and that I had a week or my bankruptcy would be dismissed.  I had completed it online and my lawyer should have submitted it to the court.  I printed it off and delivered it to the clerk myself.  I received my discharge a few days later.  That was 8 months ago and my credit is already recovering very well.  I reaffirmed an auto loan, a home equity loan, and a mortgage and that helped a lot as I have a long payment history.  I have yet to apply for a creit card but i'm not in a great hurry as I can do almost anything with my debit card(Visa logo) that I could do with a credit card.  My best advice would be to do your homework and find a reputable lawyer.  It will make the process much more bearable.

CH.7 discharge a week ago. TU score is 685. Can I qualify for an unsec. card or will new BK prevent?...

Aug 25, 2013
Helpful to 1 out of 1 people

No.  I filed 4 months ago but received my discharge recently.  I am well aware of the damage that has been done to my credit rating by the act of filing bankruptcy.  What I was really asking I guess is, since my score has climbed to 685 since filing, can I qualify for a card based on that score or will the BK offset the score.  My bank is willing to give me $600 unsecured(reaffirmed Mort, HELOC, and Auto loans) but I would like to see if I can add another creditor.

Merrick Bank

Jun 10, 2016

Did you not read the terms?