Re: Filing or Discharge date to count number of years post bk?[ Edited ]
12-20-2012 09:31 AM - edited 12-20-2012 09:32 AM
Don is right.
If you get a 13 discharged, you are presumed to have 3-5 years of perfect payment history to the court, too.
And remember, after discharge of a 13, you're 3-5 years post filing... the impact of the BK isn't nearly as bad, and, depending on timing, some of your delinquent accounts may have fallen off, too.
Regardless, both 7 and 13 are based on filing date. 6 years after filing a 7 can get someone a $7500 approval, too. Heck, I'm only 2.3 years post filing my 7 and have a visa w/ a $8000 limit. Granted it's NFCU, but I also have a Discover w/ a $2500 limit.
Ahhh okay so the filing date is the determination. So yes, whether a 7 or 13, 6 years after the filing both candidates could qualify for the same approval. Yea that helps add some clarity.
It was just boogling my mind that I could get discharged and immediately be able to obtain some high credit limits and yet many 7 filers that were just discharged were having a much more difficult time until a few years later.
Thanks for the clarification....I guess I really had answered my own question but I just wanted to make sure that I was correct in my assumption.
Major CC's - Barclay's ($3.3K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($15K) | Navcheck ($22K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($10K) | Amex Delta ($10K)
Store CC's -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2K) | Sams Club ($1.1K)
Goal: Age with grace to 750 across the board
Last app: 3/3/2014