BK VS JUDGMENTS

[braznyc]

I'm sure this is obvious to others, but I was curious if my thinking is correct.

I'm starting to think that a BK that's been discharged or even old is better looked upon by creditors (mainly credit cards) than a paid or unpaid judgment, regardless of the time.

I have read on countless boards (including this one) where people with an old BK or a discharged one that's still showing on their credit report get much more favorable response than those with any kind of judgment, paid or unpaid, old or new.

Now for obvious reasons I get why this might be, but it's still kinda stings.

Any thoughts?

[treschic]

it definently seems that way.  my aunt who filed bk twice and had multiple ca had better credit than me and was able to get more credit- multiple maxed out credit cards, a mortgage, and a new car (all of this post bk #1, and all this led to bk#2) but she was still able to get another mortgage and another new car after 2 bk's!!, and i had a judgment and medical ca but my credit was trashed.  i couldn't get a credit card to save my life, much less even being approved for a car without a co-signer.  it just seems that way though.  but, i'm sure there are other reasons for this.

[braznyc]

Exactly Angiepharm. I was reading about all these people with BK's on their CR getting approved for these high amounts. And I was like either they're fibbing or they're telling the truth, and I'm just stuck in a rut.

All my judgments are paid, and the courts don't have them on file. While I've sent disputes to all 3 CRA with my proof from the courts that nothing is on file for all 3 judgments. I can honestly say I don't have my hopes up. These things hurt more than anything else on my CR. I know as I'm building more TL things will look-up, but I just feel a slow rise to the top lol, which might be credit karma. I know it takes time BUT I still feel this is a true assumption about BKs.

[happy0510]

Yes...it does seem that way! I decided to stop using credit when I got burned as a young adult...well it's been under 7 years later, but I am much more mature and smarter about my finances and realize people are out to get you know matter what it takes (i.e. Creditors).  They just want your money...in the form of interest, late fees, overlimit fees, etc....they WANT us to get in over our heads! So, my decision to just leave credit alone and go the cash route has done me wrong!! It looks as though we are punished for deciding to opt out of using credit because we are too smart to give into their games (i.e. FEES!!)  Maybe BK's are good for the economy?? LOL

[braznyc]

Now, now I'd never advocate BK, because to me they're serious business. I just find it odd and at the same time I understand why a BK close to being discharged or discharged person looks favorable to a person with judgments, well that's what I keep telling myself.

I also agree with Angiepharm, that I'm sure it's not as simple as I'd like to think, other factors may be in play here too. In fact I hope there are

[happy0510]

Braz...if you don't mind will you go to my post and give me any suggestions on my judgment? LOL

"The CA guy said sorry over the phone....the WG came through wrong"

[Anonymous]

I'm not saying this is the case at all..........but maybe creditors see BK as someone realized they were in too far and sought help to try to do the best they could and view those with judgements as people who tried to avoid paying their bills.

I am not saying that this is what ppl with judgements have done at all. Please don't think that.

But, I know my brother in law has numerous judgements and it is for that exact reason. I have an aunt who filed BK and I'd loan her money anyday over my brother in law.

[happy0510]

Yes...which means they know that if you do ever get in over your head again you will file another BK and they will get their money!!! In a judgment, not always the case!

Message Edited by happy0510 on 04-02-2008 09:37 AM

[braznyc]

I completely understand where you're coming from and I don't take it offensively. I actually did ignore the state of ny on the tax front, but I've since paid it, before I knew they were on my credit report. My fault completely I make no excuses about that, but I will say (for me) these are the only judgments I have.

I guess I've always viewed a BK as a last resort possible, and shouldn't be done lightly, as I'm sure all who have gone the BK route feel the same way. It's a "to each their own", but personally I wouldn't view a person with a BK or a judgment any differently, both are in a financial doozy, well that's what I think. It's just how each chose or choose to handle it, not all folks with judgments are ignoring them, etc and so on -- perspective is what I mean lol.

[RUSTY101]

I have read alot about people getting high limit cards, mort, etc. after bk but not with judgements. So here is my thought on it. Creditors know that after filing for bk, you will be real careful before biting off more than you can chew and getting in large debt again. They also know that you can not file for bk again for 8-10 years, so they could come after their money if need be. Just IMO