All this is true. I filed BK and opened a secured CC with Capital One the following month. Used the secure card everyday and payed off every month for a year. After a year, Capital One graduated me to an unsecured card. Then, I was offered an upgrade to Quicksilver for no charge. Now, the secured card is now a cash back card which I still use. My credit is now established, and I am still debt free 3 yrs into my BK with 6 CC (zero balance on all) and no other loan. Oh, I did took a personal loan out with a local credit union for $1,000 a year post BK. However, I did not spend the money - instead I opened a 12months CD account. I know it does not equate the 10% interest rate from the personal loan, but it sure did help with reducing the total interest of the loan. BANKRUPTCY IS NOT THE END OF THE ROAD; IT IS JUST A DETOUR THAT WILL LEAD YOU TO BACK TO THE RIGHT DIRECTION.
Great to hear the success story! You are right that you don't have to be paying interest on a loan to be building credit. Paying the credit card during the grace period is good enough!
Did you file with us? If so call the office at 612-824-4357 and we will add it in so that it's discharged. Any debt that came into existence before filing can be included.
You have to find out if you forgot to include the collection account during the BK filing. You may be able to add the collection account into your recent BK. I am not a lawyer; I am just commenting thru my experience. So, I would ask your BK lawyer. Or, you could settle with the collection company and pay it off since you’re debt free post BK. But, make sure collection company email you a letter stating that collection will be removed from credit report once paid in full.
@@livefree_with_vinnie You are right! In Minnesota at least it is usually possible to add in a creditor that was missed. We do a few sweeps with our clients to find things like this and add them in. If the collections account was included in the bankruptcy and they are still showing a balance on your credit report, then you probably have a fair debt collection practices act case against the collector.
I had a good score 740 then my health went down with multiple organ transplants and other serious setbacks still in hospital after 8 months will be in hospital another 3-6 months it's a hard way to go health wise but bankruptcy was my true only route the medical industry mails you 12k in unknown debt along with many @5k next thing on your mind is I need to work 150 hours a week from my hospital bed so yes this is the logical step.
All this is true. I filed BK and opened a secured CC with Capital One the following month. Used the secure card everyday and payed off every month for a year. After a year, Capital One graduated me to an unsecured card. Then, I was offered an upgrade to Quicksilver for no charge. Now, the secured card is now a cash back card which I still use. My credit is now established, and I am still debt free 3 yrs into my BK with 6 CC (zero balance on all) and no other loan. Oh, I did took a personal loan out with a local credit union for $1,000 a year post BK. However, I did not spend the money - instead I opened a 12months CD account. I know it does not equate the 10% interest rate from the personal loan, but it sure did help with reducing the total interest of the loan. BANKRUPTCY IS NOT THE END OF THE ROAD; IT IS JUST A DETOUR THAT WILL LEAD YOU TO BACK TO THE RIGHT DIRECTION.
Great to hear the success story! You are right that you don't have to be paying interest on a loan to be building credit. Paying the credit card during the grace period is good enough!
What was your score at when you applied for the secured card with them, they told me they still do a hard inquiry when you apply for one.
I went years years ago. Rebuilt mine and now i have great credit. But looking at separation so may have to again. Thank you much
Thank You.
I got a credit card during my ch13. Most trustees allow a small one if you're in a plan for a while. Ch13
Nice and basic straight to it❤
what if your bankruptcy was discharged and you have one collection account
Did you file with us? If so call the office at 612-824-4357 and we will add it in so that it's discharged. Any debt that came into existence before filing can be included.
You have to find out if you forgot to include the collection account during the BK filing. You may be able to add the collection account into your recent BK. I am not a lawyer; I am just commenting thru my experience. So, I would ask your BK lawyer. Or, you could settle with the collection company and pay it off since you’re debt free post BK. But, make sure collection company email you a letter stating that collection will be removed from credit report once paid in full.
@@livefree_with_vinnie You are right! In Minnesota at least it is usually possible to add in a creditor that was missed. We do a few sweeps with our clients to find things like this and add them in. If the collections account was included in the bankruptcy and they are still showing a balance on your credit report, then you probably have a fair debt collection practices act case against the collector.
TY
I had a good score 740 then my health went down with multiple organ transplants and other serious setbacks still in hospital after 8 months will be in hospital another 3-6 months it's a hard way to go health wise but bankruptcy was my true only route the medical industry mails you 12k in unknown debt along with many @5k next thing on your mind is I need to work 150 hours a week from my hospital bed so yes this is the logical step.
U can file for bk every 8 years