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I filed Ch 7 bk and eventhough not included in my bk, wells fargo closed my secured card and on my CR says "included in bk"
This card had a 300 cl and I was never late and wells hold my cash accounts.
I want to open this account again.
Do you think I can do this with a discharged bk on my credit reports. If so how long should I wait after its discharged?
I have a first premier visa with a 300 cl, still open, never late that I pay on. I know over time this account will help my score slowely go up.
What are your thoughts about re-opening wells account?
How long should I wait to re-apply?
Anyone ever get declined again after a bk discharge?
Thanks for the info...
Wells Fargo does not like customers with BK, regardless your account is in good standing or not.
The answer will alyways be NO to them. Nothing you can do about it!
Did you have a balance on the account when you filed BK?
Did you reaffirm the account?
What happened to your deposit?
Even though this is a "secured" card, you would have needed to reaffirm the account, especially if it had any balance on it at the time you filed and discharged. And reaffirmation requires their agreement. Some CCC's don't do BK reaffirm....file and you are gone.
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So are you saying I have to wait until the bk completely falls off, 10 yrs, to get another secured card with them, even if I want a card with a 500.00 limit and have 40k in cash in deposit accounts with them?
What do you think?
No, I'm saying that your account may have been closed because your attorney failed to advise you to reaffirm the account.
Generally in a BK, those accounts you want to keep open you must reaffirm, which requires the CCC agree to, that you sign a reaffirmation document and it be approved by the BK trustee.
You can always re-apply now, but I was referring to your closed account.
as a rule when you file bk all accounts are closed with or without balances. You are now a risk to them.
I was discharged on March 3, 2009 from my chapter 13 and by the time I logged into my monitoring service on March 4,09 it was already recorded by the courts on my credit report as discharged.
There won't be anything you can do about it. Some places are bk friendly, like first premier and some are not. Once you are discharged you can try some of the bk friendly cards to rebuild your credit. But Citi and Wells Fargo and Chase will never grant you credit ever again.
@granny031350 wrote:as a rule when you file bk all accounts are closed with or without balances. You are now a risk to them.
I was discharged on March 3, 2009 from my chapter 13 and by the time I logged into my monitoring service on March 4,09 it was already recorded by the courts on my credit report as discharged.
There won't be anything you can do about it. Some places are bk friendly, like first premier and some are not. Once you are discharged you can try some of the bk friendly cards to rebuild your credit. But Citi and Wells Fargo and Chase will never grant you credit ever again.
Not neccessarily. Not as a function of the bankruptcy alone they are not.
Never say never as my best friend filed chapter 7 bk about 6 yrs ago. His bk is dischanged, but the BK notice is still all over his CR as it takes 10 yrs for that to fall off His Fico is in the high 600 and
Citi gave him a credit card.
With that in mind, I think obviously time and your fico score has a lot to do with whether an issuer will give you a card.
I cannot imagine I would have to wait the entire 10 yrs before Wells will even approve my secured card, when you take into account that my friend got an unsecured card with Citi with his bk discharged but the filing notice still all over his credit reports as that takes 10 yrs to fall off
the closing of accounts has nothing to do with the bk courts or the states but everything to do with the creditor who issues the card. The second the bk appears on the credit bureau report, crediors will close down all accounts. It is possible but RARELY will an account survive a bk and usually only happens if the creditor is not soft pulling the person on a regular basis. And in this day and age very few creditors are NOT soft pulling their clients.
And it is law that you must list ALL creditors in BK (only exception is if you don't owe them any money at the time of filing) you cannot pick and choose which creditors to include. ALL get included.
And if you don't owe them any money, as a rule, the creditor will shut down that account the second they get wind of a BK filing. And that is how one may survive a bk filing, if that creditor that you don't owe money to, isn't soft pulling your account. But it is RARE that it happens.
As to Citi, your friend's bk must have been old enough for Citi to feel good.
And other factors could also have come into play. Wells is a conservative bank. They will be hard to get back in the door with.