Should I file BK?

[Anonymous]

Rocket- how is your score now & what did you do to finally recover?

[Anonymous]

I don't know if filing will raise your score.  Our score was good when we filed we owed a lot of debt, but still had a lot of available credit.  We just saw that there was no getting out or at least if felt like it at the time.  I think if you have a lot of late pays, high balances then maybe it can help you, but I wouldn't bank on that.  If you can pay it down and manage to work your way through it do that.  Filing bk is a hard thing to recover from.  My attorney made it seem like it would be a lot easier than it is.  I would only file as a very last resort. 

[Anonymous]

Right now they all stand at about 668 +/ 5pts.

I've got shag nasty baddies, but they occurred 2 years ago.

4 Charge offs from 2 years ago

1 Collection account

Slews of lates.

Ch 7 BK back in 1998

Open to CC TLs a year ago, and have been good paying all my bills for 2 years.

Paid off all of my accounts so they show $0balances so my credit utilization is really helping me.

Doing a little bit of activity on the CCs to make fico happy

Fixed every error I could (particularly important was Cap One's screwing reporting, but they fixed in when I pointed it out)

Good news is that I've recently got a $30k auto loan approved at 8.5%, and I'm confident that I will have little problem getting a mortgage.  I have some older mortgage TLs with only a few 30 day lates.  Some would consider that pretty bad, but then I've got some narly baddies.

But, I'm not getting good credit card offers yet.  Don't blame them with my CC TL history.

Now my focus is to write some goodwill letters and see how much can be cleared.

[Anonymous]

Definitely try to see if another attorney will be more forthcoming before you commit. Also ask what the likelihood is that the bank will come after you for deficiency. In some states they can't on a principal residence. If you can't get a good guess from BK attorneys you can always ask the attorneys the bank used during the foreclosure. (I would ask now before the sale to avoid provoking action).If you still can't get a good answer go down to your county courthouse and ask the clerks to help you search foreclosures by your lender. Then go through a few ones from a year to ten months ago and see if they filed deficiency suits. (It may also be the case that deficiency judgments were entered as part of the foreclosure and not filed separately). Word is that females get more help at most county clerks' offices.

[Anonymous]

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rhinocl wrote:
 Word is that females get more help at most county clerks' offices.

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YIKES!!!

Rob