BK 13

[Anonymous]

Hello..

I am in the process of filing BK 13 and wondering what will happen to my score once we file?  Right now I have 4 CO's and 1 judgement.  my score now is in the low 500's.  Also, will my score stay the same throughout the whole 5 yrs. I am paying the trustee?  Will it go up at all??

Thank you

[Anonymous]

I have never files BK.

Do you have any "good" accounts that are staying out of BK?

Chance are if you are responsible and managed to get even a secured card soon- you will end up better off in 2 years.

I take it this is a last resort and you have already missed a bunch of payments?

[Anonymous]

Yes, this is my last resort.  I went with a debt settlement co. about a year ago and because of them this is where we are today.  I know it is our fault for getting ourselves into this debt, but they were not up front and honest.  Prior to them everything was on time, it was our debt to income ratio that was hurting us.  I should have done my homwork and now we are paying for it.  A lesson learn the hard way. 

[Tuscani]

Your score will probably stay the same until the BK is discharged as you can start adding some postive TLs.

Message Edited by Tuscani on 05-29-2007 05:42 AM

[Anonymous]

I filed chapter 13 in 2003.  Our scores changed a lot through the process.  Before we filed we were in the 700's.  I fell to 444 at my lowest.  Since then our scores moved up and down during the last few years.  We just got discharged and now I am at 591, my husband is at 620.  One thing though if you are keeping a few cards out of bankruptcy check on them before you use them.  We kept numerous cards out of bankruptcy and they had no balance, but they closed them anyway.  Good Luck!