Was going to file Ch. 7 but got a loan from parents instead

[Anonymous]

Hi all! Was going to file ch. 7 but I’m currently “judgement proof”. I’m finally finishing school and my fiancé is paying our rent currently and other bills for the next year. (I did this for him while in school). Due to horrible money management previously in college, I racked up about $11,000 in collections. $2,000 was paid off in judgements and Barclay’s Bank tried to sue me but I am apparently judgement proof. My parents will be loaning me the money in January to pay off my debts. My question is, how do you all go about settling and how much do you ask for when settling in a lump sum? Also, someone inquired on a mortgage on my account, I think my old roommate. My credit sucks and they weren’t approved but is it worth trying to dispute these inquiries? Would they believe me? I’ve never even tried to get a mortgage because we’ve been renting for years and I’m not interested in buying a house any time soon. Thanks!

[FireMedic1]

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@Anonymous wrote:
Hi all! Was going to file ch. 7 but I’m currently “judgement proof”. I’m finally finishing school and my fiancé is paying our rent currently and other bills for the next year. (I did this for him while in school). Due to horrible money management previously in college, I racked up about $11,000 in collections. $2,000 was paid off in judgements and Barclay’s Bank tried to sue me but I am apparently judgement proof. My parents will be loaning me the money in January to pay off my debts. Thats awfully nice of them. My question is, how do you all go about settling and how much do you ask for when settling in a lump sum? Lowball them and then its time to play lets make a deal. That is if it doent go to collections first. Sooner the better. Also, someone inquired on a mortgage on my account, I think my old roommate.  My credit sucks and they weren’t approved but is it worth trying to dispute these inquiries? Would they believe me? I’ve never even tried to get a mortgage because we’ve been renting for years and I’m not interested in buying a house any time soon. Thanks! Call the company listed on the inquery and plead your case. See if your personal info was used. DL# and SS#. Then they might remove it. Hope it doesnt go to fraud alert on your file.

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There are in charge off status I take it. Yes? Any collections outside of the judment listed?

[Anonymous]

Everything is in collections :/ yes they are charge offs.

[FireMedic1]

Can you list the Creditors name. Credit Line and Balance. and any lates associated with the accounts?

[Anonymous]

Discover $848
Nordstrom $1144
Capital One $687
Credit One $716 (Sold to LVNV funding)
Barclays Bank $3164 (Sold to Lloyd & McDaniel, field judgement)


I’m not sure what you mean by list any lates. Do you mean any late payments? If so, the last time I paid each was

Discover 9/17/17
Nordstrom 10/31/17
Capital One 10/14/17
Credit One 10/14/17

I also have some medical bills in collections as well.

[FireMedic1]

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@Anonymous wrote:
Discover $848
Nordstrom $1144
Capital One $687
Credit One $716 (Sold to LVNV funding)
Barclays Bank $3164 (Sold to Lloyd & McDaniel, field judgement)
So all are closed/charged off? None open? Its a get down to the fact process. The more we know the better we can guide you. Is Discover and Cap1 been sent to collections yet? I take it thats part of the loan from your parents to clear all this up?


I’m not sure what you mean by list any lates. Do you mean any late payments? If so, the last time I paid each was
Yes. Are there any 30,60, 90, or 120 day lates listed on these accounts?
Discover 9/17/17
Nordstrom 10/31/17
Capital One 10/14/17
Credit One 10/14/17
I also have some medical bills in collections as well.

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Were almost there.

[GApeachy]

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@FireMedic1 wrote:

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Were almost there.

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Good Assessment skills....wonder why? @FireMedic1

OP your parents are awesome!  Glad you posted for help.

[FireMedic1]

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@GApeachy wrote:

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@FireMedic1 wrote:

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Were almost there.

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Good Assessment skills....wonder why? @FireMedic1

OP your parents are awesome!  Glad you posted for help.

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Thanks! You read my chest pain post. LOL!!!!!!!!!!!! It works here too!

[GApeachy]

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@FireMedic1 wrote:

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@GApeachy wrote:

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@FireMedic1 wrote:

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Were almost there.

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Good Assessment skills....wonder why? @FireMedic1

OP your parents are awesome!  Glad you posted for help.

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Thanks! You read my chest pain post. LOL!!!!!!!!!!!! It works here too!

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Oh yeah, in Nursing here....been there done that, just not to your extent.  You, first line, me after the heats off.

[Anonymous]

Yes. All are closed and charged off. Discover has never sent me anything about it being in collections. Capital one has, I’m not sure who it is with. I’d have to dig around through my mail.

I never paid late until I stopped paying altogether.

Discover: 30, 60, 90, 120, 120, 120, then charged off.
Nordstrom: 30, 60, 90, 120, 120, then charged off.
Capital One: it says 30, 60, 90, 120, 120, N/R, then charged off.
Credit One: 30, 60, 90, 120, 120, 120, then charged off.
Barclays: 30, 60, 90, 120, 120, then charged off.


Thank you for all your help!!