filed for chapter 7 on Monday

[michaels88369]

Should I start going on the reports now and dispute the items to include IIB and 0 balance? Or wait sometime until the creditors get the letter from my attorney? I've never filed this before and any help would be appreciated. Also would you say it's wise to stop paying my capital one card with a 1000 limit balance at 975 zero latest in 5 years? Or keep paying that card and reaffirm that card to keep history? Or.... does it automatically get counted in the bankruptcy due to having a balance? Thanks in advance

[0REDSOX7]

I waiting until one week after the BK hit my public record.  Then, after that, I disputed all of them that didn't update.

Everything did update on my disupute except Honda - they didn't update until after discharge.

[michaels88369]

Did it raise your score or drop it once they all reported correctly?

[MaryJane197]

I waited until my bankruptcy was discharged before I pulled my reports and updated. I had quite a few things that didn't update. Also you are allowed to keep four lines of credit. It just depends on if you want to keep it. They don't automatically do that. My lawyer asked for a list of what I wanted to keep. I chose nothing and started over from scratch. Keep in mind tho that some companies won't deal with you once you file bankruptcy on them.

[ezdriver]

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@MaryJane197 wrote:
I waited until my bankruptcy was discharged before I pulled my reports and updated. I had quite a few things that didn't update. Also you are allowed to keep four lines of credit. It just depends on if you want to keep it. They don't automatically do that. My lawyer asked for a list of what I wanted to keep. I chose nothing and started over from scratch. Keep in mind tho that some companies won't deal with you once you file bankruptcy on them.

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What is the source of that information and what State are you in. I have never seen such an allowance in Federal or Florida bankruptcy statutes. Please share your source as your attorny may be wrong if that is your source.

[0REDSOX7]

I'm glad someone else pointed that out. That is not the law here...

Maybe you can reaffirm up to four accounts/lines of credit???

[StartingOver10]

Agree with the others...never heard that you can keep anything unless you reaffirm the debt and/or it fits into an exemption (but that would be an asset not a debt).

I think there may be a miscommunication with your lawyer.

When you file Bk you must list all your assets and all of your debt.

[ezdriver]

I should not be so quick to say that the attorney is wrong because clients often misunderstand what attorneys say ... especially when attorneys use too much legalese in their conversations with clients. I still believe that posted statement is inaccurate.