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filling bankruptcy and rebuilding

brittbratt2
Contributor

filling bankruptcy and rebuilding

im going to file banruptcy because i am 100,000 in debt and pregnant so i want to file and start over im filing chapter 7 banruptcy and my husband is going to add me to 2 of his cards with good history immediately once its discharged. but i need to know if i can apply for secured where to go... im so distraught about the situation its my first time and i didnt know if it was the route to take but i need help on how long its going to take and my first step on where i should go i have about $4000 sat to the side to rebuild on my credit

4 REPLIES 4
zledford
Valued Member

Re: rebuilding after bankruptcy helppppppp!!!!!!!!!

Hiya! I'm so happy you've come here. As I have not posted a lot besides my own question's I've been reading non stop for the last couple of years. I do have some advice (others, let me know if you agree or disagree- I might learn some more.) 

 

I would honestly wait to file until after you deliver. I know medical costs are skyhigh and if you happen to have an astronomical doctor or hospital bill you would include that in your filing. I only say this because during rebuild you dont need a collection's account to open up because this is pretty damaging. I would keep a hold of that $4000 to cover medical cost during/after delivery. 

 

Your husband can feel free to add you as an authorized user now on his cards as your filing will not affect them. They may help "cushion" your score when you do file however, if it is "joint" credit as you agreed to be responsible for the accounts this will be a different story... 

 

As many of us will agree to disagree on the secured card route please read the 700 in 24 months as it is pinned on the bankrupcy thread's as this is what I'm following when I'm discharged in 30 days Smiley Happy 

 

Some more questions though... the $4000 is that just money from employment? Also, please be aware that I had to provide my attorney with any bank account balance more than $1000 and provide all assets. I even went as far as to disclose cetrificates of deposits which was the building of my emergency fund when I started my plan to file. I was able to exempt these but $4000 and the trustee might want his share if not all of that, just something to be aware of. 

Chapter 7 Filed 1/19/2018
Chapter 7 Discharge 4/30/2018
Starting FICO: 582EQ,528TU,532EX
Current FICO Scores: 680EQ,682TU,675EX
Capital One QS1: $3000
Auto Loan: Capital One 10k at 6.6%
Navy Federal GOrewards: $3000
NFCU NavCheck LOC: $500
Barclays AA Aviator(Red): $6500
NFCU Flagship $10k
CareCredit $2500
OLLO: $1800
Capital One Walmart: $500
Message 2 of 5
zledford
Valued Member

Re: filling bankruptcy and rebuilding

See my reply on other thread. Please try to not double post as it may take some time for replies but we are all here to help. Smiley Happy

Chapter 7 Filed 1/19/2018
Chapter 7 Discharge 4/30/2018
Starting FICO: 582EQ,528TU,532EX
Current FICO Scores: 680EQ,682TU,675EX
Capital One QS1: $3000
Auto Loan: Capital One 10k at 6.6%
Navy Federal GOrewards: $3000
NFCU NavCheck LOC: $500
Barclays AA Aviator(Red): $6500
NFCU Flagship $10k
CareCredit $2500
OLLO: $1800
Capital One Walmart: $500
Message 3 of 5
Scupra
Super Contributor

Re: rebuilding after bankruptcy helppppppp!!!!!!!!!

Absolutely solid advice above! Don’t know what to add Smiley Happy
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 4 of 5
brittbratt2
Contributor

Re: rebuilding after bankruptcy helppppppp!!!!!!!!!

the money was from my taxes 4500 i paid my bankruptcy and then deposited it in my husband account we also have a joint accoiunt with $2000 in it but he is the only one that uses it seeing that i have a seperate account with the same credit union

Message 5 of 5
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