Stopped paying accounts before BK. Will I ever get credit again?

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upmyscore
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Stopped paying accounts before BK. Will I ever get credit again?

Postby upmyscore » Thu May 01, 2014 5:07 pm

I had about a 665 credit score. It's not great but I thought it would be sufficient to get an unsecured card. However, prior to claiming bankruptcy my lawyer instructed me to stop paying on accounts. So, now I'm worried that even if I get my score up to 700, I'll never be able to get a loan or credit card because these delinquencies will continue to show up.
Has anyone else experienced this?


haikuginger
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Postby haikuginger » Thu May 01, 2014 6:07 pm

That's a tough call. Some, like Amex, are notorious for permanently blackballing those who screw them for anything more than $0.50. However, if you were discharging those debts in bankruptcy anyway, it shouldn't make a difference. You're screwing them either way.

austintastic
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Postby austintastic » Thu May 01, 2014 10:30 pm

I would say that depending on the company you are either looking at a 5 year to permanent blacklist. CUs (not that you are involving in the BK) would be your best bet in the future as you rebuild.

mrow
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Postby mrow » Thu May 01, 2014 11:48 pm

haikuginger wrote:That's a tough call. Some, like Amex, are notorious for permanently blackballing those who screw them for anything more than $0.50. However, if you were discharging those debts in bankruptcy anyway, it shouldn't make a difference. You're screwing them either way.


So the lesson is balance transfer your Amex debt to another card before filing for bankruptcy haha

Patcell87
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Postby Patcell87 » Fri May 02, 2014 6:14 am

mrow wrote:So the lesson is balance transfer your Amex debt to another card before filing for bankruptcy haha


+1 Excellent suggestion!



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