cancel
Showing results for 
Search instead for 
Did you mean: 

My BK7 Journey

WadeDalton
Established Contributor

Re: My BK7 Journey

Glad to know you got the funds moved and the dd changed azguy13! That's a big one to check off the list.

 

Here's to a great week ahead my friend! Smiley Happy

 

 

 

 

 

 

Chapter 7: Discharged November 2015
11/15 Fico 8: EQ-585, TU-550, EX- 551
07/16 Fico 8: EQ-703, TU-695, EX- 660
09/16 Post App Spree Fico 8: EQ-675, TU-675, EX-663
Cap One Platinum $2K>$4K, Cap One Quicksilver $3K, Discover $1,600, SPGVisa $4500, Red Roof Inn Siggy Visa $5K, Good Sam/Camping World Visa $1800, Overstock $7K, Lowe's $6K, NFCU Cash Rewards Visa $4600, NFCU CLOC $15K, PenFed Promise Visa $10,500, Evine $1K, CreditOne Visa $600|Total CL: $153K
Garden until September 2018 (I'll be in the pumpkin patch)!

Message 21 of 53
tcbofade
Super Contributor

Re: My BK7 Journey

Sorry to hear about the struggle, but glad that your wife is doing well.

 

The rest is all details. 

 

This is one of the very legitimate reasons for bankruptcy to occur, it is WHY we have this structure in place.

 

Hold your head up high.

 

Then go hug your wife.  Smiley Happy



05/01/21 Fico 8: EX 725, EQ 753, TU 757.
05/05/21 Fico 9: EX 729, EQ 732, TU No idea.

Zero percent financing is where the devil lives...

Firmly in the garden since 13 February, 2021 until whatever comes next. Smiley Happy
Message 22 of 53
azguy13
Senior Contributor

Re: My BK7 Journey


@tcbofade wrote:

Sorry to hear about the struggle, but glad that your wife is doing well.

 

The rest is all details. 

 

This is one of the very legitimate reasons for bankruptcy to occur, it is WHY we have this structure in place.

 

Hold your head up high.

 

Then go hug your wife.  Smiley Happy


Thank you Tcbo Smiley Happy

 

Just hugged DW and told her a strander on the internet told me to do it. She looked at me like I had 10 eyes, haha. 

Message 23 of 53
azguy13
Senior Contributor

Re: My BK7 Journey

Well, I paid off Synchrony today for my one card I had through them (Living Spaces) so I would not burn them in BK. I had very little left to pay off (just under $200) and did not want to file BK7 and still owe them. No need to IIB someone with such a small amount owed. Plus, it fell well under the maximum I could pay without looking like preferential treatment. 

 

I hear Synchrony is pretty BK friendly. Let's hope so. 

Message 24 of 53
pizza1
Community Leader
Super Contributor

Re: My BK7 Journey


@azguy13 wrote:

Well, I paid off Synchrony today for my one card I had through them (Living Spaces) so I would not burn them in BK. I had very little left to pay off (just under $200) and did not want to file BK7 and still owe them. No need to IIB someone with such a small amount owed. Plus, it fell well under the maximum I could pay without looking like preferential treatment. 

 

I hear Synchrony is pretty BK friendly. Let's hope so. 


Hey AZ...

 

Just be careful the closer you get to filing when deciding to pay off a lender. The BK trustees went back a full year on me questioning any and everthing that was considered a payment.  When in doubt, ask your attorney first, thats why they are paid the big bucks...

 

Also, you want to be able to meet the "means test" for a CH7, so reducing your current debt load now before filing isnt a good idea. UNLESS.....you will meet the means test regardless.  Some folks come within a few hundred dollars of making it, and reducing a cell phone bill would make or break them meeting the requirements in the means test for a CH7....vs...CH13. 

 

Youre doing well though to come on the boards and ask questions before doing anything to hasty though. 

 

Also, thats good you got your funds whiched to DCU away from Chase, and you know to stay away from them for many years since they will be burned. You didnt have to pay off Synch though, theyre BK friendly. I IIB them I think 5-6 accts, and was back in with them 6 months later.with all the same CC's that were IIB...the rest is history, and I now have all majors with them. 

 

Question on your DCU....you said they wont be IIB? Do you have a CC with them? 

 

Good luck


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 25 of 53
azguy13
Senior Contributor

Re: My BK7 Journey


@pizza1 wrote:

@azguy13 wrote:

Well, I paid off Synchrony today for my one card I had through them (Living Spaces) so I would not burn them in BK. I had very little left to pay off (just under $200) and did not want to file BK7 and still owe them. No need to IIB someone with such a small amount owed. Plus, it fell well under the maximum I could pay without looking like preferential treatment. 

 

I hear Synchrony is pretty BK friendly. Let's hope so. 


Hey AZ...

 

Just be careful the closer you get to filing when deciding to pay off a lender. The BK trustees went back a full year on me questioning any and everthing that was considered a payment.  When in doubt, ask your attorney first, thats why they are paid the big bucks...

 

Also, you want to be able to meet the "means test" for a CH7, so reducing your current debt load now before filing isnt a good idea. UNLESS.....you will meet the means test regardless.  Some folks come within a few hundred dollars of making it, and reducing a cell phone bill would make or break them meeting the requirements in the means test for a CH7....vs...CH13. 

 

Youre doing well though to come on the boards and ask questions before doing anything to hasty though. 

 

Also, thats good you got your funds whiched to DCU away from Chase, and you know to stay away from them for many years since they will be burned. You didnt have to pay off Synch though, theyre BK friendly. I IIB them I think 5-6 accts, and was back in with them 6 months later.with all the same CC's that were IIB...the rest is history, and I now have all majors with them. 

 

Question on your DCU....you said they wont be IIB? Do you have a CC with them? 

 

Good luck


My VA Disability is not included in the means test so I will be meeting that regardless Even if it were included I would still meet it. As strange as this sounds, I think I am being a little more proactive about this than most people. My report is still spotless with no derogs but I am at the point now where I will start accumulating the derogs in the next couple of months so I am trying to figure out how to go about this. 

 

I do not have a CC with DCU but I have an auto loan through them. However, that is my VW Passat which is in the process of being bought back by VW due to the emissions scandal. However, I have no idea how long that will take. My attorney knows about that situation. 

 

I just don't want to burn more people than I need to. I will make sure to email my attorney just to give him an update on everything. This entire process will be stressful up until the day I am discharged. 

Message 26 of 53
azguy13
Senior Contributor

Re: My BK7 Journey

Just a quick update. I met with the Mayo Clinic Hospital finance offiice today and explained my situation. We are continuing to try and finish the financial hardship assistance but in the event they need to be IIB, they will continue to see DW. That is a HUGE weight off my shoulders. That was truly the last "wildcard" in this process (or so I think). 

 

I am so happy DW can continue to be seen at Mayo. They are amazing. 

Message 27 of 53
WadeDalton
Established Contributor

Re: My BK7 Journey

Hey THAT is great news azguy13! What a huge relief for your family and yes, the Mayo is amazing!

 

You sure have taken care of a lot of details in the last couple of weeks...whew...I know first hand what it's like to want to get everything in place (and what a huge undertaking it can be). You have done a terrific job...congrats.

 

All the best to you and your DW!

 

Smiley Happy

 

 

 

 

 

Chapter 7: Discharged November 2015
11/15 Fico 8: EQ-585, TU-550, EX- 551
07/16 Fico 8: EQ-703, TU-695, EX- 660
09/16 Post App Spree Fico 8: EQ-675, TU-675, EX-663
12/01 Fico 8: EQ-660, TU 707, EX:675
Cap One Platinum $2K>$4K, Cap One Quicksilver $3K, Discover $1,600>$1800, SPGVisa $4500, Red Roof Inn Siggy Visa $5K, Good Sam/Camping World Visa $1800, Overstock $7K>$7300, Lowe's $6K>$17K, NFCU Cash Rewards Visa $4600, NFCU CLOC $15K, PenFed Promise Visa $10,500, Evine $1K>$5K, CreditOne Visa $600 Auto & RV Loans $87K|Total CL: $169K
Garden until September 2018 (I'll be in the pumpkin patch)!

Message 28 of 53
Scupra
Super Contributor

Re: My BK7 Journey


@azguy13 wrote:

Just a quick update. I met with the Mayo Clinic Hospital finance offiice today and explained my situation. We are continuing to try and finish the financial hardship assistance but in the event they need to be IIB, they will continue to see DW. That is a HUGE weight off my shoulders. That was truly the last "wildcard" in this process (or so I think). 

 

I am so happy DW can continue to be seen at Mayo. They are amazing. 


This is AMAZING news!

Filed BK7: 7/2012 (start score EQ 560 / TU 529) Discharge 10/2012
759 EQ FICO 03/2021
754 TU FICO 03/2021
743 EX FICO 03/2021
$29k NFCU Platinum | $30k NFCU cashRewards Sig | $15k NavChek | $7.1k Cap1 Quicksilver | $10k Amazon Store | $19k Cap1 VentureOne | $16k Barclay Aviator | $5k Chase Freedom | $5k Chase Sapphire Preferred | $9k Costco Visa | $20k AMEX BCE | AMEX Gold
Message 29 of 53
azguy13
Senior Contributor

Re: My BK7 Journey

Thank you both Wade and Scupra!

 

I am just trying to ie up all the loose ends before I move forward. Everyone elses documented journey on here is REALLY helping. Yet another reason this forum is the best. 

Message 30 of 53
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.