After 7 months FINALLY DISCHARGED!

[Anonymous]

First off I want to thank everyone on this forum for their advice. Today I finally got my discharge!! I filed for BK 7 back in March, had my 341 in May, and turned in the additional bank statments the trustee requested the day after my 341 and from then on there was ALOT of waiting. My trustee requested a total of 3 extentisons the last one was denied by my lawyer and they went to court, and the judge told the trustee he had a week to wrap things up. I had a Rule 2004 examintion last week, it lasted less than 2 hours and I was told I would get my discharge. And TODAY I did! So happy to put my BK behind me, I was very stressed the whole time. I have been receiving Capital One pre-approval mail for the past 5 months and today I was approved for the Platnium MC with a $3000 cl. Very happy, will be making multiple payments every month. I joined NFCU a few months ago through my step dad and hope to get a CC from them soon. 

[Guyatthebeach]

Hawaiilover441,

Congratulations on your discharge!  I remember feeling well of having the burden of the past going away and the great financial unknown ahead of you. 

Since you are already a member of Navy Federal, I would definitely apply for a credit card and a loan when you’re ready. I would also take advantage of their great CD rates to save some money too.

Best of luck on your rebuild.

Guyatthebeach

[Anonymous]

When do you suggest I apply for a cc with NFCU?

[Guyatthebeach]

I would wait until you check your CR to make sure everything is reporting correctly. I would recommend you read Soulmaster’s 700 in 24 thread. 

Once everything is reporting correctly, then I would apply.    Also be prepared for a recon. I had to almost recon everything for the first few years since my chapter 7.

Guyatthebeach

[tnvols]

It always makes me laugh when Chapter 7 people talk about the agony of waiting 2 -6 months to file and get it all behind them.  I just finished a 60 month Chapter 13.  It seemed like such a long stretch of time that I had to just block it out for a few years to let time pass while making the monthly payments and giving all my tax refunds to the trustee.  We started watching the calendar and counting down remaining payments in the last 6 months.  It's the stress of getting all the bad stuff behind you and the relief when it is finalized.  We would have loved to have done a Chapter 7, but the IRS wouldn't release a lien unless we signed up for the 5 year grind so they at least got something.  A few months is nothing in the scheme of things, alot of people have it much worse.  Get it behind you and start the climb back up the ladder.  Congrats on the DC.   

[Anonymous]

Oh trust me, I admire the folks who make it through a 13. It truly was difficult waiting through the 7 process, so I can imagine how it must change you going through a 13. Probably for the better in many ways, but still. I know we are in the bk forum so we are preaching to the choir, but bk is hardly an easy way out, no matter which chapter you end up in. You do a lot of waiting and a lot of work while you are waiting, and a lot more work after you're done if you want to keep from ending up destitute (since you have no chance of getting a case approved for so long after). So hey: Hats off. 

[Scupra]

...and if it makes you feel better, we get another 3 years to think about it

[tnvols]

"...and if it makes you feel better, we get another 3 years to think about it"

That is true.  For the next 24 months we plan to churn our new credit cards and build the limits up so when the BK drops off in 11/19 we should be spotless and 700+.  I guess the 7 year reporting is the only advantage of doing the 13.