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#34
09-06-2008, 07:51 AM
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Chapter 7
I filed bankruptcy in 2002. I understood, at the time, it would remain on my credit report for 7 years. Now I'm reading it will remain for 10 years. Doesn't the law at the time of the discharge remain in effect? Isn't that under the " grandfather clause"? Am I completely off the mark?
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#36
09-20-2008, 09:26 PM
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Chapter 7 stays 10 years where Chapter 13 generally stay only 7 years. However, mortgage companys normally like to see 2 years of good payment history after discharge. My husband and I filed Chapter 13 and where able to purchase 2 new cars and a home within 3 years of filing;however we have become very aware of our purchases and don't get over extended therefore we always make our payment on time.
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#37
09-30-2008, 09:49 AM
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you can get credit, especially auto loans, because they love a reason to charge outrageous rates. Credit cards make take a good year or two of showing good payment history after a BK, also mortgages tend to be 2-3 years after BK, but with all the new changes in Mortgage rules, that I am sure will increase. As far as the credit report, there are 2 kinds of BK and one stays on for 7 yrs and the other stays for 10. credit counseling is a rip off. What they do is collect your money put it into an "account" until you have given them enough money to "pay" one of the credit account, some of them hold on to this money until you have given them all the money to pay all the accounts. Guess what is happening to your credit in the mean time- your getting a lot of negative reporting. Honestly I think you can take of things yourself with a plan, get a book from Suze Orman, if it is so huge that you can't even begin to find a shovel, I honestly would talk to an attorney about BK. Different life situations put even the best people in this situation. I think the only ones who abuse this are the repeated filers, honestly they never learned their lesson if they've filed more than twice in their lifetime and that is taken into consideration that they are over 50, there is no excuse if you are under 40 with two BK's.
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#38
09-30-2008, 10:20 AM
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Sjax, I guess those are your opinions. Your facts are marred. credit counseling may be a rip off, but debt management programs can help a person as well as debt settlement. Those programs can keep a person from filing BK.
And your statement "there is no excuse if you are under 40 with 2 BK's", is certainly off the mark! What about the person who needed to file BK b/c some drunk driver w/o insurance hit them and the medical bills piled up; or the entreprenuer who had a business but an employee embezzled from them? Your generalizations are hurtful, not helpful. Please think before you post your opinions.
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#39
10-02-2008, 11:54 PM
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credit card debt
I have credit card debt and now I am facing judgements and wage garnishment. Superior debt was supposed to be helping me but apparently they are worthless. Is there still hope for us after all this??
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#41
12-24-2008, 05:00 AM
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Dispute it as obsolete
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#43
02-04-2009, 05:48 PM
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Guest ~ it should drop after the month that is was filed it, although it might take a little longer. If you filed, say June of 99, it will not drop until June of 2009, if it was a chpt 7. Keep an eye on your credit report.
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#45
04-21-2009, 08:56 AM
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Dispute it with the CRAs if it has not dropped off after Sep 2009.
__________________
"We are what we repeatedly do. Excellence, then, is not an act, but a habit." -Aristotle-
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#47
04-22-2009, 03:25 PM
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I am active military and I am in debt up to my eyes for the past two years I have been trying to pay off debts with no success so I am looking seriously at filing chapter 13 any suggestions I'm open to em
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