Chapter 13 bankruptcy and First Premier Bank Card

bump-cause I really need some opinions!!

Sassy with a subprime card like that,I would ditch it and start looking at rebuilder cards after being in your plan for about a year. Keeping it will have very little positive effect compared to bankruptcy.A prime card or bank would be a different matter altogether.

Thank you cajun!!!! I think my credit union has secured cc's that maybe I could apply for down the line instead.

I was under the impression that you cannot pick and choose what debts to file BK with. My old lawyer told me that you had to file everything, and if the courts found out that you left something out, it was grounds for dismissal.

If I am not mistaken You would include everything in a chapter 7.On the chapter 13,I think you can list which debts you wish to keep and basically the court would reaffirm the debt.Since I have never filed,I am not 100% up on all the regulations. Only thing I know about Bankruptcy is how it ties to collections involving discharged debt.

When we filed, there were a couple of things we did not include on there, probably should have now, but didn't. Hind sight is 20/20 you know.

GET RID OF FIRST PREMIER! they are a ripoff! I had them and used the card twice because the fees and crap they pulled....

Yep I am gonna get rid of it. I was just looking at my latest statement-$6 participation fee, $48 annual fee, $7 autodraft fee, I was just starting to see a dent in it then the annual fee came out and I am starting all over with a balance of $296.84. To heck with them. They can get paid through the plan.

My husband and I have had first premier for 6 months now and we love them. Our interest rate is only 9.9% it is 19.9% if you take a cash advance, but we never do that becasue most all places take plastic. I'm not sure how you had problems, but we've never missed a payment. And with the minimum only being $20 its hard to understand how a payment would be missed. We have found though the key is to pay most if not all of your balance when your able too. You don't have to wait for the due date to do this. If two weeks before its due you have a few extra bucks through it in with your min payment. Our credit is the better for it.

BK the account and open new accounts after BK???

That is not at all what the posts were saying . . . . The question was if it should be included on the bk or not, not wether she could include it on the bk, then open a new account.

Hriberts, my minimum payments were not always only $20. I got behind and I worked hard to get my balance back down to where it needed to be. I ran into circumstances beyond my control and was not able to make my payments. It doesn't matter anymore because I am filing them in my bankruptcy. Thanks goudah for understanding my question!

Sass I would definatley include them. I think this card is a total rip-off. I was going to get one and after I read the terms I changed my mind. KYSIDE38

Yeah I did go ahead and include them after all. I never should have gotten it in the first place. I was just so excited that someone approved me...that was my first credit card ever besides a gas card.

First Premeier Sucks! I never had anything but problems with them!

Ditch the card especially since it has an annual fee. It is completely false that you need credit cards to build credit. Banks say that so you will open an account and get into debt so they can make money. I know plenty of people that can get auto loans and house loans that do not use credit cards.

Cajun,

I'm not saying you are wrong, but I just filed a Ch 13 and my attorney ran a full credit report on me so he could have a list of every creditor. I was under the assumption that in a Ch 7, you can choose what debts you want to reaffirm on, but I really didn't question the matter of wanting to keep anything except my car, which is a secured debt.

Good I am glad to hear it. They are the biggest scammers besides the PDL's out there.

ladybug

Don't worry after about two years after your bk you will start getting credit card offers in the mail absolutely everyday. Just be careful which ones you chose even if you even want one again. Once you have been through BK you don't want to use them again(trust me I know been there and done that).

But thank god my husband who is the responsible one uses his responsibly and is very **** about paying his bills on time, which is wonderful. I never had the money to do that. Thank god becuz if we had to rely on myself for financial survival we would be living in a cardboard box (LOL)

ladybug

[color=Red]****Adult term removed - Jason[/color]

Hi Ladybug

I agree with u. After bankruptcy one should use his or her credit wisely.

Take care
Nelly

I'm going to just use mine for a year to boost score and then dump it before the next annual fee (ha). I also use my bank's online paybill feature, so no extra pay fees to 1st Premier for payment! ....just the monthly 7 fee ......i have an hsbc card that is much better than 1st premier anyway....predatory lender 4 sure