Hi I haven't been around this forum much since I learned how to take my sub 600 scores to the high 7's and hit 800+. Would not have been able to do it without the knowledge gain from so many members. Thank you all
my scores currently 760 ish. I have about 40k of limits and 4 of them have a balance. I had charged them a lot higher as I did have 70k of limits. I got some CL cuts across the board when I transferred to much to capital one. So why the spending spree?
summer of 21 I was diagnosed with stage IV lung cancer with metasis to the brain. I thought I was going to die within a couple of years so I did some things I had been putting off around the house. Bought I nice Christmas for the family and myself. Had some adverse actions and limit decreases to the balance which tanked my utilization and scores fell to the low sixes. Got true with my whole brain radiation and it killed some of the leasions that was causing my erratic behavior.
I looked arround and found a terrible best egg loan that would not do anymore than 40k with loan fees and a 10% interest rate.
I took it and got my utilization in check and scores going up still can't get another loan so stuck with the best egg for now.
okay we are to the question. I was lucky and had over a years leave so I have had my full salary even though I can't work. But that is coming to an end after the first of the year. My retirement is not going to be able to make the credit card payments. My wife can cover my truck and I'll have enough to pay the mortgage and groceries but that is about all.
I was considering filing chap 7, but wasn't sure about accounts. I have about 20k in a money market account but it pays the mortgage and it's up to a couple of years of making sure my wife has a roof over her head even if I'm not around. I also have a small brokerage and a crypto together about 16 k. I filed BK 7 would they take this money? Or since I will also have disability by then, is it a decision of the judge as to what happens to it?
im going to no choice but to default soon. Maybe I'll just let them harass me. There is an 80 percent chance I'll be dead before they get around to suing. Sorry for long post I just I needed to explain how I got here.
@dynamicvb wrote:Hi I haven't been around this forum much since I learned how to take my sub 600 scores to the high 7's and hit 800+. Would not have been able to do it without the knowledge gain from so many members. Thank you all
my scores currently 760 ish. I have about 40k of limits and 4 of them have a balance. I had charged them a lot higher as I did have 70k of limits. I got some CL cuts across the board when I transferred to much to capital one. So why the spending spree?
summer of 21 I was diagnosed with stage IV lung cancer with metasis to the brain. I thought I was going to die within a couple of years so I did some things I had been putting off around the house. Bought I nice Christmas for the family and myself. Had some adverse actions and limit decreases to the balance which tanked my utilization and scores fell to the low sixes. Got true with my whole brain radiation and it killed some of the leasions that was causing my erratic behavior.
I looked arround and found a terrible best egg loan that would not do anymore than 40k with loan fees and a 10% interest rate.
I took it and got my utilization in check and scores going up still can't get another loan so stuck with the best egg for now.
okay we are to the question. I was lucky and had over a years leave so I have had my full salary even though I can't work. But that is coming to an end after the first of the year. My retirement is not going to be able to make the credit card payments. My wife can cover my truck and I'll have enough to pay the mortgage and groceries but that is about all.
I was considering filing chap 7, but wasn't sure about accounts. I have about 20k in a money market account but it pays the mortgage and it's up to a couple of years of making sure my wife has a roof over her head even if I'm not around. I also have a small brokerage and a crypto together about 16 k. I filed BK 7 would they take this money? Or since I will also have disability by then, is it a decision of the judge as to what happens to it?
im going to no choice but to default soon. Maybe I'll just let them harass me. There is an 80 percent chance I'll be dead before they get around to suing. Sorry for long post I just I needed to explain how I got here.
Probably best to talk to an attorney. Dont know what your income is but there is an income limit for ch7. Ask the attorney about that.
Also its great that you have some money put away in the event you arent around however, I would be more careful about making decisions racking up more debt to leave your family with.
Not trying to be an donkey-hole but I have watched someone close to me have to deal with the financial affairs of someone who passed. It was a crap show. Create a will if you havent already. Probate for the ones left to handle things is a (word I cant say here).
Siggy updated Feb 16 2023
Edited my post. See revision.
Best to talk to a lawyer. With a home and all these accounts that are holding balances. It gets sticky. So you wont be a no assest case. Possibly 13 depending on your state. Sorry about he hard ball thrown your way.
