@RealEstateGuy89 wrote:
@DogwoodLynx wrote:
Thought I'd post some starting data points for pre-file BK7.
Current scores (also in siggy).
Inquiries
Accounts
I'll update if anything major changes next month. Thought the data points may be useful.
Any preliminary thoughts @Pway @FireMedic1
Hello @DogwoodLynx I have enjoyed your postings on your chapter 7 journey. I've been reading up on bankruptcy to try to determine if it might be a good option for someone in my family (my cousin). I haven't even approached them on the issue to see if it is something that they would consider but wanted to be well informed on it when/if I do.
I wanted to ask a couple questions if you don't mind sharing.
Did you have many accounts that were discharged under the chapter 7 bankruptcy? It looks like there are just a few.
I was wondering what your total amount discharged would be?
Please don't take offense at my asking these questions, as there is no judgment at all. It looks like you are progressing well and by doing the things you are doing, I bet you will recover nicely. I wish you the best of luck!
@RealEstateGuy89 No offense taken at all. We are here to share and support each other.
My BK included 2 credit cards - one of which had a 9k balance. When you file BK, all creditors get listed and notified (that's part of the law) but it doesn't mean you burned everyone. I also had some debt from my previous apartment that they tried to stick me with. That was just over $2k. I also have federal student loans that are kinda in limbo (at least on the credit report). Those probably won't be discharged though.
Total discharged was approximately 13k. Not super high, but my credit score had tanked and it would have been impossible to correct it at the rate I was going. BK7 gave me my credit life back literally. It's like being in a 90 day sober house, but for finances.
Let me know if I can assist further.
Siggy updated Feb 16 2023
Quick update on my credit scores: They all dropped back down to the mid-500s due to updates being posted to my credit report. I'm not worried. I've been told on here that this is a normal process. All I need to do is keep making on time payments and put the negative further in the past every month.