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Beginning of the Journey - 7 Filed

Regular Contributor

Beginning of the Journey - 7 Filed

In the next few days and weeks we should be able to breathe again. This was the absolute last thing I wanted to have to do, but unfortunately many bad decisions, being ill prepared, and unexpected situations led us to this point. This will be a interesting road as we barely passed the means test, after all the exemptions we were 600 away from not being able to pass the test. 

 

The road to restoring positive credit will be a tough one as we are burning some pretty big names. We are burning NFCU (ARGH), USAA, Capital One, Citibank, Synchony, and Nordstrom. We will never get NFCU again as the amounts we are burning are very high and we will not be willing to pay it back to get in their good graces. We actually would love to not have credit cards, but realize they are a necessary evil for a higher credit rating. 

 

I'll use this thread to post updates to our journey. Ch 7 was filed tonight. 

 

-C

Message 1 of 8
7 REPLIES 7
special111
New Contributor

Re: Beginning of the Journey - 7 Filed

Good luck on your new beginning

 

Discharged 3/23/17
Fico 8 Scores 3/28/17
EX 606/TU 566/EQ 613
My scores 7/16/17-EX 659/TU 640/EQ 673
Message 2 of 8
Regular Contributor

Re: Beginning of the Journey - 7 Filed

Thanks for to Pacer, our 341 meeting is scheduled for April 6th. Eeek! The creditors have until June 5th to object. ::fingers crossed::
Message 3 of 8
nomadicpixie
Valued Member

Re: Beginning of the Journey - 7 Filed

Congrats and good luck. We have similar timelines. We filed 2/28, 341 meeting scheduled for April 3rd. It's such a relief to file but I admit the 341 meeting makes me nervous. 

Rebuilding from BK 7
EQ-554 TU-567 EX-542 ~ Day of Filing (2/2017)
EQ-559 TU-496 EX-510 ~ Day of Discharge (6/2017)
EQ-696 TU-677 EX-679 ~ Current (4/18)
Credit One, Merrick, Paypal, Overstock, Pottery Barn, NFCU Secured & CapOne
Live, learn, and overcome
Message 4 of 8
Newbeginning1925
Valued Member

Re: Beginning of the Journey - 7 Filed

Good luck and nothing to be nervous about. I just left mine about 2 hours ago. I even have a jerk of a creditor there for mine and it was still a breeze.
Message 5 of 8
Regular Contributor

Re: Beginning of the Journey - 7 Filed

So we had our 341 meeting today. It went very well, better than we expected. The trustee confirmed that our case was a no asset case. Woo-hoo! The waiting game continues. We were nervous as we were a high income household until my H lost his job in January. We filed at the earliest date that we could file. So it's been nervewracking. The beginning of June can't come quick enough. 

Message 6 of 8
Regular Contributor

Re: Beginning of the Journey - 7 Filed

We received our discharge the day after the date that the creditors had to object. Our BK process went very smoothly, much smoother than I could have anticipated.

 

Now on to the rebuilding. We did not re-affirm either of our vehicles. We were contacted by lender to turn in one -- we were able to keep while the BK was open. We have not been contacted about turning in the other vehicle yet. We are trying to secure a auto loan first. We do need at least one car and plan to remain a one car family for the foreseeable future. My H was received a prequal from Cap One so that is who we will likely go with. 

 

We both have student loans so we will at least have that reoccuring payment and history. Otherwise we are starting from square one. Credit cards and our lack of discipline was the main issue and the reason for us needing to file BK. Well that and 6 months of unemployment. I am very leery of even getting a credit card, but realize its a necessary evil. We did not re-affirm our mortgage either but have been paying it monthly. 

 

Off to the 700 in 24 months thread!

 

Good luck to everyone on their journey!!

 

Message 7 of 8
Kb109
Frequent Contributor

Re: Beginning of the Journey - 7 Filed

Congrats!!!!! I cannot wait for my discharge date! What a relief! I filed 6/21 and my 341 meeting is on 7/28. Objections date is 9/28 (I believe). I am so anxious and want this all to be over with!
Filed Ch7: 6/21/17
Discharged: 10/03/17
Current FICO8 Scores as of 2/10/2019: EX 651, TU 678, EQ 679
My Cards: 1FBUSA $2,900 (survived BK7 and is my oldest account!), Fingerhut $1,100, CreditOne $900, Ollo Rewards $2,500, LendUp Arrow card $2,000, CapitalOne Platinum $3,000. GARDENING FOR THE NEXT TWO YEARS!
Message 8 of 8
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