Secured CC before filing Ch. 13

I'll try to keep this short and sweet and to the point.

Filed Ch. 7 in 2008
Am going to file Ch.13 in Feb. 2012
I will be filing pro se, just like I did in Ch. 7

I rebuilt my credit then screwed up again. That is why I'm filing Ch. 13. I have learned my lesson on managing money the hard way.

My question is I don't want to wait so many years after my Ch. 13 to start rebuilding. I've heard of people getting secured CC before filing Ch. 13 and not using them.

Opinions?

PS (If anyone from plaingreen or cashcall is reading this.....BITE ME!)

Since you admit that in the past 4 years since obtaining your 7 discharge you have messed up, why would you take steps to go down that same path again by wanting another credit card (secured or not)?

Having said that, you certainly can obtain a credit card today and, if you owe $0, then it is not a debt you owe and the account does not get listed on Schedule D or F.

However, your bk is of public record and, if the credit card issuer finds out, there is a 50/50 chance that your charging privileges will be pulled.

Further, a secured credit card requires a bank account. You set up an account for say $500 and the credit card issuer gives you a card with a $500 limit while holding a lien on the account as security if you default.

If there is money owed on the card the creditor is listed on D as holding a secured claim, secured by the account for what you owe, just like a vehicle, and your Plan will have to provide for the creditor.

The bank account is listed on Schedule B. If, on the day you file the Chapter 13, you owe $0-$499.99(in my example) then you have a bank account that has available cash (equity) sitting in it.

If there is less than $500 (using my example) owed and you cannot exempt the available cash (equity) then you will have to use that amount (non-exempt equity) as part of your Chapter 7 Reconciliation. As it relates to this issue (or any other mentioned), if you do not know what I am talking about then maybe you should not file pro se. A Chapter 13 is a bit more complex than a 7 and, less than 10% (nationally) of pro se 13's get to Plan Confirmation.

Best of luck to you no matter what your decision.

Des.