I keep getting offers from orchard bank about a card.
Is there any benifit to getting one now before I file chapter 7
Is there any benifit to getting one now before I file chapter 7
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I'd say no because there is a 99% chance of them closing the account as soon as they are notified of your filing. Some cards even have a clause in their terms that a BK-filing automatically terminates the account.Originally posted by bigtim6656 View Post
I'm dealing with two small CCs as well, each with a $300 limit. One of them is a secured card. I paid them off to exclude them from my filing. That might not prevent them from being terminated - however, they can't be reported as "Included in BK" because they don't carry a balance the day I'm going to file. And who knows - maybe the secured card is going to survive because if they pull the plug on the account, they would have to refund my security deposit.Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706. -
IBROKE- but wouldnt you have to list that "Secured Card" as a deposit as the $300 is an asset and falls under the deposits as would a utility deposit, a rental deposit etc? Just curious.Filed pro se Chapter 7 08/12/2010 - Scheduled 341 Hearing 09/08/2010 - Trustee Report of No Distribution 09/09/2010 -
Reaffirmation of Auto 09/27/2010 Approved 09/28/2010- Discharge 11/09/2010:
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Yes, you are correct - the security deposit is an asset and I did list it as such.Originally posted by nfreeze View Post
Filed CH7 9/24/2010, 341 on 10/28/2010, Disch.&Closed: 1/6/2011. FICO EX: 9/2: 672.
FICO EQ: pre-filing: 573, After BK Public Record: 568, 10/3: 673.
FICO TU: pre-filing: 589, After BK Public Record: 563, 9/2: 706.Comment
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