Filing BK before or after Credit Card Charge-offs? Options

[storesstores]

Is it better to file BK 7 before or after the credit cards chargeoff the debt?

I am wondering if the collection agencies have less power in the BK court then the actual original creditors?

Any thoughts or ideas on this?

[HHM]

It doesn't matter.

[bige1030]

Probably the only important thing to note is that it's better for your credit report to file before the chargeoffs rather than after. If you file before the chargeoffs come, they can't be reported; however, they *can* be reported if they happened before bankruptcy.

[CATCHMEIFYOUCAN]

What if the creditors filed DURING the Bk process. I have this one OVERDRAFT account in a small amount of $500 that I listed on my Bk, and Chevy Chase eventually "Charged It Off."

Catchmeifyoucan

[HHM]

What if the creditors filed DURING the Bk process. I have this one OVERDRAFT account in a small amount of $500 that I listed on my Bk, and Chevy Chase eventually "Charged It Off."

Catchmeifyoucan

Unfortunately, that is probably ok. Again, there is much dispute within the credit reporting agencies and consumer advocates about how charge offs should be represented on a consumers credit history. Right now it seems, so long as the debt was charged off before "discharge" of your BK, it can be reported as a charge off (as well as IIB).