topic Re: Filed Chapter 7 feeling bummed. Need a little advice. in Bankruptcy

Filed Chapter 7 feeling bummed. Need a little advice.

scorpiyo — Thu, 23 Jul 2015 22:15:57 GMT

Long story short. I recently filed a chapter 7 BK about a month ago. Main reason for my filing was my wages being garnished from a debt that was more then 7 years old. However all my credit cards were in good standing with no late payments and current. With the filing of the BK all but one credit card was closed after they were issued notice of the BK (the one that wasn't closed had a zero balance so it was not included on my schedules). I really would like to get two of my cards back after disharge. Barclays and Capital One.

Do anyone have any idea of the probability that Barclay and Captial One will issue me another card after discharge?

Thanks!

Re: Filed Chapter 7 feeling bummed. Need a little advice.

TRC_WA — Thu, 23 Jul 2015 23:11:27 GMT

@scorpiyo wrote:
Long story short. I recently filed a chapter 7 BK about a month ago. Main reason for my filing was my wages being garnished from a debt that was more then 7 years old. However all my credit cards were in good standing with no late payments and current. With the filing of the BK all but one credit card was closed after they were issued notice of the BK (the one that wasn't closed had a zero balance so it was not included on my schedules). I really would like to get two of my cards back after disharge. Barclays and Capital One.

Do anyone have any idea of the probability that Barclay and Captial One will issue me another card after discharge?

Thanks!

Capital One is a pretty good chance.... Barclays... not so much.

How much was the garnishment? What are we missing?

Re: Filed Chapter 7 feeling bummed. Need a little advice.

morgacj2004 — Fri, 24 Jul 2015 00:36:57 GMT

Cap One very good chance. BC will if not IIB, toss up if IIB. Depends on the amount time etc. I would apply for a secure card thru BC first and then wait awhile before applying for anything from BC.

Re: Filed Chapter 7 feeling bummed. Need a little advice.

Anonymous — Fri, 24 Jul 2015 00:45:34 GMT

Cap one great chance not sure about Barclays. I included them in my CH 7 and once it was discharged I went right to a secured card with them. Then, after I got my scores up a little bit I applied for their quicksilver card and was approved for a $2000 limit.

I will say though that I had a auto loan on my report with just about a year of on-time payments so that helped me.

Just know that if you play your cards right you'll probably be back with the cards that you had previously depending on how well you maintain your credit going forward. Wish you the best!

Re: Filed Chapter 7 feeling bummed. Need a little advice.

scorpiyo — Sat, 25 Jul 2015 13:05:09 GMT

Thanks for your reply. The garnishment was to the tune of almost $4000.

My credit scores pre BK were TU 634....EX 619....EQ...578

Credit scores pre discharge are currently TU 493..... EQ 513.... EX 493......

Credit cards and car loan was in good standing....However my car had an engine issue (head gasket) (repairs was over $3500) and I haven't driven it for a year but I continued to pay the loan because I didn't want the repo on my credit. (I had a year left to pay on it) During the BK i opted to surrender the car obviously. (still owed $4200 on the car)

Credit card debt was about 2200 dollars spread over 6 cards

Student loan debt 65K but in deferrement at this time only paying interest. (I know they will not survive discharge)

Had a few things in collections that totaled $7,000 but I was working on paying those off or waiting until it dropped from my credit report

Back state income and fed taxes that was about $5000 (that I was paying monthly)

Total debt was 110k.

Re: Filed Chapter 7 feeling bummed. Need a little advice.

Pway — Sat, 25 Jul 2015 13:28:26 GMT

Capital One is a very forgiving lender. They do not backlist for the most part. They tend to let people back in with them, some has gotten approved the very next day of discharge. However, I burned them and I had to wait around 4 months or so. I did some rebuilding like getting a secured card andopening other credit accounts before getting back in with Capital One. Barclays on the other hand I am really unsure of. I never had them until I was 6 months post discharge bk.

Re: Filed Chapter 7 feeling bummed. Need a little advice.

Shooting-For-800 — Tue, 28 Jul 2015 01:45:48 GMT

Life is so much better after ch7 if you really one really had to file.

YMMV but yes, some have been able to get cards from cap one even though the burned them in ch7.

i burned them for 4000 and I have 50,000 avail with them now just 16 months after BK.

NO! These results are not typical.

Keep your head up. Every day gets better.