topic Re: Discharged CH 13! in Bankruptcy

Discharged CH 13!

webhopper — Sat, 16 Jul 2022 01:38:26 GMT

Greetings Fico peeps!
I wanted to post some great news!

My BK is finally gone! Made the last payment in April and we got the discharge in June. We ended up paying all of the claims at 100% because of high income.

Some things worth mentioning are:

I was able to get a mortgage to build a house on the land in the city of my new job (I had to move due to job loss). I had used a 401k loan to buy land that had a crappy trailer on it and that's where I lived for 3 years. I closed on the mortgage in November 2020.

My husband and I got divorced 2 years into the plan, but we both continued to pay. I also just had a baby in December 2021! I was able to get the payment lowered to account for the baby expenses.

I have a 4 year old secured USAA card and a 1 year 7 month old PayPal Mastercard. Thats all I have and all I need.

Got pre approval to purchase a new Volvo v60 cross country through capital one for 5.3%. Dealership is trying to beat that rate by going through chase.

Good luck to all you guys out there. A chapter 13 is doable. There were weeks when I had to do pb and j and beans and rice for dinner because of unexpected expenses but I made it and you can too!

Re: Discharged CH 13!

babygirl1256 — Sun, 10 Jul 2022 04:53:59 GMT

Congrats on your CH 13 discharge . . . great job . . . wishing you continued success and super congrats on your new home!!!

Re: Discharged CH 13!

webhopper — Sun, 10 Jul 2022 12:38:10 GMT

Thank you!

Re: Discharged CH 13!

Pway — Sun, 10 Jul 2022 14:59:47 GMT

Congrats on the discharge.

Re: Discharged CH 13!

pizzadude — Sun, 10 Jul 2022 17:24:43 GMT

Congrats @webhopper on completing your BK13 !! I'm sure it's been a tough road but hopefully you're in a much better place now. Also congrats on your newborn and good luck with your new wheels!

Re: Discharged CH 13!

webhopper — Mon, 11 Jul 2022 05:17:36 GMT

Yes definitely and thank you! The chapter 13 did what it was supposed to which was keeping creditors off my back while I got back on my feet and it protected my exempt assets which were retirement accounts and a home. I was unemployed for almost 6 months with no unemployment and we went through all our savings. To add insult my now EX quit his job voluntarily and was also out of work for 5 months. That's part of the reason we are divorced now because of that and other issues.

I have no debt except for mortgage which is a nice feeling! And the value of my home and the one I still own in Oklahoma has gone up a crazy amount even in the last 18 months. At this point I will be a millionaire on paper due to real estate equity and retirement accounts which were exempt during the BK *shaking my head*

Re: Discharged CH 13!

pizza1 — Mon, 11 Jul 2022 00:25:11 GMT

@webhopper , what a great feeling that is! Congrats to you! I still have one more year left on my BK7...its been a long road. Im sure you already know this, but you should think about grabbing one more CC for optimal fico scoring purposes. Congrats on everything!!

Re: Discharged CH 13!

webhopper — Mon, 11 Jul 2022 03:25:48 GMT

Thank you!

I have some pre approvals for some of the capital one prime cards so I am going to take a look at those! I burned all the big names in my BK and even though all the claims were paid 100% I believe I am on the blacklist right now. I don't know how long the black list lasts for discover, chase, amex or nfcu. I would like to get back in with nfcu, so I am waiting on my denial letter for the auto app, they declined without even pulling my scores.

Re: Discharged CH 13!

webhopper — Thu, 14 Jul 2022 14:42:24 GMT

@pizza1 wrote:
@webhopper , what a great feeling that is! Congrats to you! I still have one more year left on my BK7...its been a long road. Im sure you already know this, but you should think about grabbing one more CC for optimal fico scoring purposes. Congrats on everything!!

Thanks for the suggestion! I researched and applied for the Wells Fargo Active Cash card and got approved with a 10K limit! I'm going to put the secured USAA card in the sock drawer.

Life is good!

Re: Discharged CH 13!

FireMedic1 — Thu, 14 Jul 2022 19:45:53 GMT

Congrats @webhopper ! Seen the other approvals also. Its done now. Nice.

Re: Discharged CH 13!

webhopper — Fri, 15 Jul 2022 23:17:40 GMT

Yes thanks for the nudge! I'm sitting pretty for another 24 months of gardening!

Re: Discharged CH 13!

ButtercremeQueen — Fri, 22 Jul 2022 14:22:18 GMT

Congrats on your BK13 discharge!

Re: Discharged CH 13!

FLLGuy — Fri, 19 Aug 2022 20:56:00 GMT

@webhopper Congrats the monkey is off your back!

Don't mean to context switch here but, i have to ask.

How did you get in with Wells Fargo? I thought they were not BK friendly this good news, i actually burned them in my BK 13 not sure if they blacklist? Did you burn them?

Re: Discharged CH 13!

webhopper — Sat, 20 Aug 2022 00:03:00 GMT

@FLLGuy wrote:
@webhopper Congrats the monkey is off your back!

Don't mean to context switch here but, i have to ask.
How did you get in with Wells Fargo? I thought they were not BK friendly this good news, i actually burned them in my BK 13 not sure if they blacklist? Did you burn them?

Hi!

I didn't burn WF in BK and I have had a long history with them. A CC and checking account in the 2000s and a mortgage with them since 2011 that hadn't ever been late. I also had a brokerage account with them prior to the BK. The SL they gave me was a surprise though!