strangely favorable cc offer

[music12]

so i check my mail today and there is a cc offer in there. i read it upside down, forwards, backwards, sideways, and nowhere does it say it's secure nor does it say there is any fee. it just says i am pre-approved for at least $250 credit line, 15% apr, no annual fee.

i am not even discharged yet.

what's going on??!?

[JRScott]

If your not discharged you can't legally seek new lines of credit without the Trustee's approval.

Depending when you filed it may have been sent before the filing date, not sure.

[music12]

nope, it was sent way after the filing date.

i have no intention of accepting the offer. i just thought i'd share with the forum.

[Nicollette]

Right after my filing, I started getting a lot of cc offers and car financing offers. The funny thing is, some of the cc offers were from cc's that I included in my BK.

[notadeadbeat]

this is happening to me too! I have goten 4-5 credit card offers, a couple of KEEP YOUR CAR offers, etc..........all since filing in June!
I laughed and ripped them up, although I do know someone that filled them
all out and got 3 new cars before they were even discharged AND USED them before discharge!

[Flamingo]

The creditors wait like vultures for discharge information from the BK courts. It's public info so they readily obtain it. Everyone, whether discharged from Chapter 7 or 13, will get all sorts of loan offers from car dealers (always check that fine print - the rates are usually astronomical or other high fees involved), the credit card offers start (we were bombarded by the former Aspire Bank which was chock full of fees for a $300 line of credit). Heck, we even received numerous vacation offers! Don't fall for all the offers; you are debt free and they want your money so they can make money. Take your time and be wise as to all future credit; don't get it unless you need it and when you do get it, treat it pristinely

[aces67]

We've only gotten one so far. It was secured with a high rate and lots of fees. It was also issued by the same bank as one of the cc's that we included in our BK. I trashed it.

[Amy26]

Yea but even before I got totally hosed up in credit card debt I would get those great credit card offers in the mail...saying you were pre approved for X.... however, if I applied for it I always got denied or some other offer than what was given in the paperwork.

When you get those "pre approvals" you've only met like one or two of their conditions...

1. Are they breathing
2. Do they have a mailing address

[music12]

ah, well yes to both!

before my bk i always qualified for all offers i was mailed. i don't plan to find out whether i still do any time soon.

[RainMoM]

Yea but even before I got totally hosed up in credit card debt I would get those great credit card offers in the mail...saying you were pre approved for X.... however, if I applied for it I always got denied or some other offer than what was given in the paperwork.

When you get those "pre approvals" you've only met like one or two of their conditions...

1. Are they breathing
2. Do they have a mailing address

you forgot one condition.. not able to read small print, so they won't read the rules

[Tom_Mi]

....The funny thing is, some of the cc offers were from cc's that I included in my BK....

Hey you don't suppose they do this prior to discharge to jeopardize or cause dismissal of your case??

[music12]

no, i don't think they can use their own loan-shark practices as evidence against the poor debtor. what are they going to do, go to the trustee and say "hey, i tricked them into another cc, not take their discharge away"? it won't work.

[notadeadbeat]

IF you do use a credit card after your 341 meeting does it disqualify you for discharge?
I am wondering how my friend did this?

[Amy26]

I don't see how the bk court would know that you charged something after your 341 meeting. The creditor that you used the card with would somehow need to find out that you're in bankruptcy and then file a complaint or something with the trustee... After the trustee has filed a notice of no distribution and requests to be removed from the case, I don't think anybody is gonna go checking your credit report to see what you've been up to.

I guess it would be different if you somehow got audited after your 341 or they suspected something and then investigated...but under normal circumstances, how would the bk court find out if you incurred any additional debt after 341?

I do know that if you incurr any debt after you file you are responsible for paying for it.

[music12]

IF you do use a credit card after your 341 meeting does it disqualify you for discharge?
I am wondering how my friend did this?

i don't think so. there would have been very clear instructions about that, like when they tell you that you won't get a discharge if you don't get the debt ed certificate. they would have said that you won't get a discharge if you use a credit card but they don't.

i think they stay out of regulating whether a cc company would extend you credit unless it's a ch13.