RECIEVED MY FIRST PREMIER CREDIT CARD!! FIRST CC I HAVE HAD IN 7 YEARS!!

[Anonymous]

Rebuilding my credit, while in Chapter 13 bankruptcy. Today I recieved my First Premier Bank Credit Card Gold with a 300/limit. I am excited and cannot believe I have a CC. Mind you I am still in Chapter 13, but hoping to have some established credit for when I get out of it.  

[gdale6]

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@Anonymous wrote:

Rebuilding my credit, while in Chapter 13 bankruptcy. Today I recieved my First Premier Bank Credit Card Gold with a 300/limit. I am excited and cannot believe I have a CC. Mind you I am still in Chapter 13, but hoping to have some established credit for when I get out of it.  

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Grats and happy holidays

[Anonymous]

Way To Go. Congrat's

[TRC_WA]

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@Anonymous wrote:

Rebuilding my credit, while in Chapter 13 bankruptcy. Today I recieved my First Premier Bank Credit Card Gold with a 300/limit. I am excited and cannot believe I have a CC. Mind you I am still in Chapter 13, but hoping to have some established credit for when I get out of it.  

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I'm curious... did the trustee approve your CC and car loan?

I'm asking because that was the biggest thing that my attorney stressed when I filed Ch 13... absolutely no new debt without the permission of the trustee.  The trustee isn't your friend... he's there for your creditors and adding new debt without permission could even result in the trustee filing a motion to dismiss your case.

I never tried it because my previous vehicle loan was paid outside of my Ch 13 plan and I lived the 4 years without a CC which didn't cause me any problems with rebuilding... my scores were 620-640 at discharge and I got a Cap One unsecured card the next day and was on my way.

[Anonymous]

My trustee approved my car loan, I did not seek approval for the credit card. However, its my understanding that trustee approval is only needed if credit being obtained is over 500.00 which is why I did not seek approval.

[bstone]

We filed Ch 7, so we didn't need trustee approval for anything and our case was done in about four months.  However, from what I've read, in a Ch 13 you are not allowed to incur ANY new debt without the trustees approval.  NONE.

I would strongly advise you consult with your attorney and ensure you haven't put your case in jeopardy.  Even though the courts may not pull your credit and find the new card, what's to say one of the creditors you listed won't and report the card to the courts.  Just because you are paying your creditors back doesn't mean you didn't screw them out of some of the principle or interest, so they have a vested interest in your case being dismissed and them being able to potentially get 100% payback as opposed to whatever the courts approved.

What I found online went as far to say you can keep credit cards you had prior to filing, but can't even use them without trustee approval.

Good luck, but I think you made a serious error in judgement here.

[Anonymous]

I appreciate your guidance and it is well taken.  I specifically have read that taking credit under 1000 dollars requires no court approval.  In addition, I am in a 100% repay back to my creditors and on top of that I am scheduled to pay off my bankruptcy early in the sum of 9k in May 2015 due to a bonus I am going to be recieving.  I am in a perfect financial position and I am so happy about it.  I am not screwing over any creditor as they are all getting what they are owed.

[bstone]

Interesting, because in your previous post you said anything over $500 needed approval, now you say anything over $1000.

It's your case, your risk.  Paying it off early means nothing to the trustee unless they are already paid, in which case they are not, so you are at risk of dismissal.

All we can do is offer advise, take it or leave it, but I still think you're taking a huge risk.

[Anonymous]

Very interesting......I'll leave your presumptions to this board as you are not privilledged to all the information that is concering my case and are generalizing in terms of the average bankruptcy filer.  I am the one in the Chapter 13 not a Chapter 7. I am the one paying all of my creditors. I have consulted with my attorney in regards to my case everytime I make a move. I am preety comfortable with my decision. Thank you.  

[Anonymous]

Very interesting......I'll leave your presumptions to this board as you are not privileged to all the information that is concerning my case and are generalizing in terms of the average bankruptcy filer.  I am the one in the Chapter 13 not a Chapter 7. I am the one paying all of my creditors. I have consulted with my attorney in regards to my case everytime I make a move. I am pretty comfortable with my decision. Thank you.