Facing Credit Card Bankruptcy
Author: Guest
Posted: Mon May 10, 2004 4:54 pm
Post subject: Facing Credit Card Bankruptcy...Please help!
I really need assistance with high income interest credit card. Debt consolidation is out - I will have to file Bankruptcy. Any tips?
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Author: NightStar
Forum Moderator
Joined: 07 Nov 2003
Posts: 2132
Location: Illinois
Posted: Mon May 10, 2004 6:08 pm
What state are you from? Will be back with more info for you soon, have to step out a minute.
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Author: NightStar
Forum Moderator
Joined: 07 Nov 2003
Posts: 2132
Location: Illinois
Posted: Mon May 10, 2004 8:47 pm
Ok, moving on without knowing which state - which once you provide I can link you to your state web site for further information about process for filing, and exemptions. Anyway -
1) Need to order copy of credit report from all 3 CRAs. (order direct here and no where else) you absolutely need their version of the reports to obtain addresses - which your lawyer will need. Cost will be $9.00 per credit report. Recommend trying the phone numbers first; go through the automated system having been declined credit - you might get lucky that the system sends you a free credit report regardless of having been declined credit or not!
TransUnion transunion.com 1-800-916-8800 PO Box 1000 Chester PA, 19022
Experian experian.com 1-888-397-3742 PO Box 2104 Allen Tx, 75013
Equifax equifax.com 1-800-685-1111 PO Box 740241 Atlanta, GA 30374-0241
2) If you don't see a creditor or collection agency listed on the credit report, then you will need to obtain this for the lawyer. If you have to call the company to obtain the address, don't disclose any more information to them then you have to. If it takes promissing payment then do so, if you feel they will withhold the address otherwise. Once the bankruptcy is filed, you have 6 months before discharge to make sure everyone is included. So you might re-order the credit reports say in the 5th month just to make sure you have them all. Once the discharge goes through, it would cost additional money to re-open the case to have others included.
3) If they do call you back to harrase you over payment, then at this time inform them of the bankruptcy and the contact information for your lawyer, nothing else is needed to be said on your part, just hang up the phone on them. Not worth any further stress over what can't be changed.
4) Once the bankruptcy is filed, be sure to forward copies of the bankruptcy (schedule F papers & discharge) to all 3 of the Credit Reporting Agencies - with request to update showing Included In Bankruptcy / Zero Balance. This will help you in the long run to obtaining & rebuilding credit, just about every time - guarenteed, the creditor is not going to follow up on their obligation to update the CRAs on their end.
View our latest credit card ratings!
Posted: Mon May 10, 2004 4:54 pm
Post subject: Facing Credit Card Bankruptcy...Please help!
I really need assistance with high income interest credit card. Debt consolidation is out - I will have to file Bankruptcy. Any tips?
View our latest credit card ratings!
Author: NightStar
Forum Moderator
Joined: 07 Nov 2003
Posts: 2132
Location: Illinois
Posted: Mon May 10, 2004 6:08 pm
What state are you from? Will be back with more info for you soon, have to step out a minute.
View our latest credit card ratings!
Author: NightStar
Forum Moderator
Joined: 07 Nov 2003
Posts: 2132
Location: Illinois
Posted: Mon May 10, 2004 8:47 pm
Ok, moving on without knowing which state - which once you provide I can link you to your state web site for further information about process for filing, and exemptions. Anyway -
1) Need to order copy of credit report from all 3 CRAs. (order direct here and no where else) you absolutely need their version of the reports to obtain addresses - which your lawyer will need. Cost will be $9.00 per credit report. Recommend trying the phone numbers first; go through the automated system having been declined credit - you might get lucky that the system sends you a free credit report regardless of having been declined credit or not!
TransUnion transunion.com 1-800-916-8800 PO Box 1000 Chester PA, 19022
Experian experian.com 1-888-397-3742 PO Box 2104 Allen Tx, 75013
Equifax equifax.com 1-800-685-1111 PO Box 740241 Atlanta, GA 30374-0241
2) If you don't see a creditor or collection agency listed on the credit report, then you will need to obtain this for the lawyer. If you have to call the company to obtain the address, don't disclose any more information to them then you have to. If it takes promissing payment then do so, if you feel they will withhold the address otherwise. Once the bankruptcy is filed, you have 6 months before discharge to make sure everyone is included. So you might re-order the credit reports say in the 5th month just to make sure you have them all. Once the discharge goes through, it would cost additional money to re-open the case to have others included.
3) If they do call you back to harrase you over payment, then at this time inform them of the bankruptcy and the contact information for your lawyer, nothing else is needed to be said on your part, just hang up the phone on them. Not worth any further stress over what can't be changed.
4) Once the bankruptcy is filed, be sure to forward copies of the bankruptcy (schedule F papers & discharge) to all 3 of the Credit Reporting Agencies - with request to update showing Included In Bankruptcy / Zero Balance. This will help you in the long run to obtaining & rebuilding credit, just about every time - guarenteed, the creditor is not going to follow up on their obligation to update the CRAs on their end.
View our latest credit card ratings!
posted by CardRatings.com at 1:16 PM
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