Question about Bankruptcy

You would be. Some companies cater to those of us who have filed, some help, others...don't. Maybe you lucked out. Check your interest rates though they could be really high. :wink:

Well thanks for all of the advice and info, none of which I knew. They can have ALL of the cards. I do have another question though. When one of you said that you can refile again in 2007--how? I thought the laws changed so much that it could not be done.

So I could technically do one again then? Also could you explain what discharged actually means? I was told originally, but I have forgotten.

And to further touch on this - there are some people out there who live in debt, bankruptcy to bankruptcy. Some states are so lenient on their laws that you can file and the only thing taken away from you is your nice credit score - to some, this it not important since some companies turn right around and offer you credit. My discharge date was in 2003 and already I have $5000 in credit card limits... GOOD GRIEF! Thankfully, I'm paying them down this time.

Ehwin,

It's been a number of years since I saw this, but it appeared on 60 Minutes. In California, a man went to dental school and graduated. Because credit was easier to get back then (and because dentists are considered a good credit risk), the dental graduate accumulated a plethora of major credit cards. With them, he got cash-advances up to the max on all cards (when you could still do that). He purchased a building that included space for a dental office with an apartment above it. He outfitted the dental office with all the modern equipment he'd need, bought himself a brand new automobile, and paid off a Federal student loan. And then, before the first payment was due on these cards, he filed a Chapter 7. He PLANNED it. I remember Morley Safer interviewing him, asking him if he felt any guilt in doing what he did. He not only said "no," he was rather smug about it.

Back then, California had the most lenient bankruptcy laws of any state. You could keep one car, one home, and all business property and tools of the trade. He didn't have to surrender a thing.

Now with the new Federal laws, though, it's taken the "edge" of a lot of abuse (though I'm certain abuse still exists).

I would suppose there are people out there who do things like that. He must have had a unbelievable amount of credit cards with very high limits to provide himself with that much cash. Very sad.