Question after filing bankruptcy (under old laws)

Did you list them as a creditor when you filed?I filed a few years back,but I did not list any utility or cable companies.If you are behind on your payments and you listed them,then they do have the right to cut off your service.If you were still able to use your credit cards before you filed,once they are notifed that you have filed,they will not let you use them any more.The only payment I made was my car payment,which I reaffirmed in the BK,I had to pay cash for everything else.

Hi dupont24

If you have included the cable operators in your file for bankruptcy, the attorney has sent them a notice and in turn they have cancelled your subscription. It means that the debt with this company has been discharged in your bankruptcy filing.

Contact them and arrange for a payment plan if you wish to retain their service.

Thanks. I was told I had to list every debt regardless or could have the entire bankruptcy discharged.

Bankruptcy filed in 1999 to be on record for 7 years. Now on credit report listed to be removed in 2008! 10 years. How can this be?

Hi Suzanne

Welcome to the forums.

As per the federal Fair Credit Reporting Act, bankruptcy remains in the file for 10 years. There are some cases where creditors report a chapter 13 bankruptcy for 7 years on your credit file rather than 10 years. But the main intention of the creditor behind this reporting is to convince the person to pay a portion of his debt rather than discharging it completely under the chapter 7.

Today, most of the lenders overview your bankruptcy or any other negative remark provided you have a very good income. A good financial standing is the key to getting new credit even with derogatory remarks in the file. On this basis, you can get new credit for car and new credit cards after your debt has been discharged in chapter 7. You are also likely to get a mortgage on a house in a year or so.

Only on having a sound financial income, the lenders will keep you open for such options though you might have to pay a higher rate of interest.

Regards
Roxette

A chapter 7 usually stays on your credit report for ten years and a chapter 13 stays on your credit report for 7 years if I remember right. I believe it's from the date you filed. Mine was discharged three years ago and it's something I wish I had not done. I didn't list any utility companies either but I was able to pay them on a monthly basis.

Roxette has a very good point about rebuilding your credit after the bankruptcy. I got a decent credit card a little of a year later. I've kept up on the payments and keep a low balance on it. I've talked to different loan companies over the past year or so and some will look at giving a person a loan or credit about two years after the discharge date. They don't want to see any late payments and do want to see some good credit history. I keep a close eye on all three of my credit reports now. My fico score has jumped up over 100 points in the last year. My main focus now is to work with my debt consolidation of the payday loans and keep trying to rebuild my credit of the next couple of years.

Mishele,

You weren't able to file your payday loans on your bankruptcy? Or are those from after you filed bankruptcy? Reason I ask is because I included my payday loans on my bankruptcy and I am just waiting to see if they are going to be discharged when I get my discharge papers in mid-April. So far, I haven't had any problems with any creditors that I included on my bankruptcy. Bankruptcy was the last thing I wanted to do, but had no other option because I had to resign from my job due to high levels of stress I was under. I don't see it as a bad thing, but I see it was a new beginning for me. :D