Ready to file, But afraid.

[sarge12]

---

@LiveLife88 wrote:

Just a quick update, my case has finally been filed. There is no turning back at this point, and im looking forward to a fresh start.

I'm a tad bit nervous for my 341 meeting but my lawyer says I have nothing to be worried about. He estimates that since my case was filed last friday, my 341 should be around towards the end of Februrary. Is this true? (whats the usual timeline?)

Anyway at this point I'm simply playing the waiting game and hoping all goes well.

---

341 meetings generally last about 10 minutes, and are no big deal. Always be completely truthful with the Trustee, and you will be fine. At 2 different times in my life I filed ch.13 and ch. 7. I have had around 800 or better scores now since 2010 at least. There is life after BK. Learn from this and vow to never live beyond your means.

[LiveLife88]

Thanks for all your kind words and support.

So I just recieved an update from Credit Karma about my bankruptcy which was quick. It shows up as a public record. My TU score went from 603 to 501 and my Equifax from 600 to 488.  That sucks. My scores 60-90 days prior were in the low 700's, its amazing how quick things can change.

Anyway I know there's nothing I can do about that right now until everything is said and done but I just cannot wait to start the rebuilding process again. I was pretty good with my credit before hand I just let balances get too high, and made the mistake of co-signing for a car(not smart).

[LiveLife88]

Also, I've noticed they've closed all of my accounts already.

They move fast, even accounts with a zero balance have been closed.

[Anonymous]

I'm in the same boat, except I am filing on tomorrow. I am also extremely nervous, but ready to get things over with at the same time. I managed to screw my credit up after I purchased my home in 2015. I never had a credit card and got a little too happy with applying and credit limit increases! Never again. I know I will have to get a card to help rebuild my credit, but I will not get as many as I had before because it was hell trying to pay everyone back. On top of that, I had a new baby, which really hurt my ability to pay!

[Scupra]

---

@Anonymous wrote:
I'm in the same boat, except I am filing on tomorrow. I am also extremely nervous, but ready to get things over with at the same time. I managed to screw my credit up after I purchased my home in 2015. I never had a credit card and got a little too happy with applying and credit limit increases! Never again. I know I will have to get a card to help rebuild my credit, but I will not get as many as I had before because it was hell trying to pay everyone back. On top of that, I had a new baby, which really hurt my ability to pay!

---

You can't learn without failing! Good luck with your BK

[LiveLife88]

Hello!

Just a quick update, I WAS DISCHARGED! as of today 4/25/17 per PACER im finally done with my CH7 bankruptcy and discharged.

I have a few questions though.

First, will the public record on my credit report update to show that the bankruptcy has been discharged?

All accounts have already been updated as closed, IIB, and $0 balance from what I can see, is there anything more I need to do?

and when can I start applying for credit to start rebuilding?

Thanks!

[Anonymous]

Congratulations on your BK discharge! Yes, your credit report should update right away to show the status of the BK; also, all accounts included in your BK will show up as being closed. Double-check to make sure, though, and if there's something that doesn't look right, bring it up with your CRA.

A number of people have been able to start rebuilding credit almost as soon as their discharge was finalized. Personally, I wouldn't rush into anything; I would recommend you to read thoroughly every thread you can find in this subforum as well as in "Rebuilding Your Credit" that applies to your particular situation. In particular, if you can spare the cash, I would recommend that your first credit card be a secured credit card. I went with Capital One myself at the end of 2015, but with hindsight, and after reading numerous threads on the subject here, I would suggest Discover instead.

[LiveLife88]

More good news,

I went ahead and applied for Capital One and after a few missteps with out of date contact information in my fraud aleart I finally got it to go through.

Spoke to the rep today and verified that it wasnt fraud, and it was me who applied, and she congratulated me and said I got an initial CL of $2,000.

Wow, no more than 48 hours after discharge and I'm already on the path to recovery!!

Thanks to all the help on this forum. Truly a blessing.

[Kaydee84]

Congrats on your discharge and your first CC approval. If you don't mind me asking, was Capital One included in your BK?

[LiveLife88]

Thanks!

I did not include them in my BK. I had a card with them before but it was paid off and closed by me before I filed.