Re: Anyone, life after BK!!!

Posted by Julie (67.162.127.109) on August 27, 2003 at 12:54:57:

In Reply to: Re: Anyone, life after BK!!! posted by First Circle on August 25, 2003 at 20:03:21:

I filed in 2001, I would do it again given my circumstances. First circle has some good advice, I make exception to a couple things tho, read all those offers you get, amongst all the cr*p, I found a decent offer from Capital One, 7500 limit with 12.99 int. I realize not the greatest int but a good rebuild card. And you will have to play some games with CAP one to show your true CL, but it's eazy peazy, japanezy.

I disagree with don't make payments on unsecured, I believe the fact that I made payments right up until I filed is what got me a halfway decent offer from Cap One. Once the court has granted you your "automatic stay" (one of the first documents you will receive) you will be off the hook for "late payments"

I suggest once you make the decision to file BK, close the accounts of your own volition, AND GET THAT IN WRITING before you file for BK. You need a document stating the account was closed and preferrably the current balance.

Just before filing get a copy of all three credit reports, not a 3n1, one from each CRA. If you can afford it get a new report every 30 days there after. This may come in really handy in the future. The OC's (original creditors) and the CRA's will try to sc$#w with you. They will try to say the account is still open, that you made late payments prior to the filing date, that the account was charged off,the will state incorrect balances. CYA

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