Bankruptcy, Finally

[mtbc]

It's affecting my credit score and having it removed will bump it up.

Is that plausible? I thought zero-balance revolving credit accounts generally improved it, in showing you're not using too much of the credit you have.

[MrBankruptcy]

I understand worrying about your dad finding out but there is no way a creditor can attach you to your dad's credit card. When your dad adds you as an authorized user they don't ask for a SSN. They don't know who you are or care as your dad is solely responsible for that card. If your dad made you joint on the acct. they would know. The decision to file BK jointly depends on your husbands income as that will be a qualifying factor. If he doesn't make much you might consider an individual bk if you don't want to ruin his credit.

[lilacs80]

Bulletproof -- I know what you mean. And believe me, if I could I would tell him even if I don't like it, I would. My father stopped talking to my sister and completely cut her out of his life because she married someone he didn't approve of. And the guy she married wasn't even a bad person at all. My dad has very high expectations of all his kids and when she picked someone "mediocre" (that's his word not mines) he protested, and in the end, he didn't go to her wedding. My dad is a very extreme man.

Even though you say if he doesn't understand then it's not my issue, when it comes to family, it's not as simple as it's on him and that's the end of that. He will cut me out of his life because he is disappointed and doesn't approve of my BK. He will never respect me and my husband, especially my husband. And that will lead us down the road of my children not having a grandfather in their lives.

[lilacs80]

mtbc -- The attorney told me it's because the account or credit line is dormant. So even though the credit line is there, the credit line is not active so in order to use it we would have to call and have that account reactivated which involves pulling credit score to requalify for the credit line even though it is there. Credit companies now pull credit reports on all dormant credit lines when we want to use it to see where we stand and if we have crazy debt or whatever the case may be, then they can deny reactivating the credit line and it'll remain dormant. He said dormant credit lines lower my score because it's not active. Only active zero balance revolving credit lines improve our score. That's what the lawyer told me this morning.

[lilacs80]

mrbankruptcy -- thanks for your reply. That's really good to know and relieving to know. I still haven't pulled my credit report yet, but I will do that today. How can I know if I'm an authorized signer or joint on the credit card for sure? Does it say on my credit report? I'm pretty sure I'm a authorized signer because my dad never had me sign any paperwork otherwise I'd remember.

[SMinGA]

Yes - it will say joint or authorized user on your credit report. Joint = a problem, unless you can get your dad to close the account. (In which case it would be a nonissue - closed with $0 balance.)

Joint accounts are NOT common for credit cards, by the way.

[lilacs80]

Ok guys, I just reviewed my credit reports from all 3 places. I am an "authorized signer" but the card/account has been closed since 2008. So I guess my dad closed out the account. NOW, if the account is closed, does it matter?

[SMinGA]

Sounds like all is fine lilacs. You were never a responsible party, and its closed so nothing to worry about anyhow.

[lilacs80]

Thanks Sminga! I'm just very nervous about this whole BK thing.

[momofthree]

If the account is closed, then it's a non-issue. No worries!

[lilacs80]

momofthree -- thank you for replies! really appreciate it! i'm just a worrywart, i suppose. but one can never have to much info or ask too much questions. =)

[lilacs80]

Hi everyone,

Thanks for all the replies and input so far. I have another question about creditors or credit card companies calling. I was told by my BK atty to take the calls and not avoid them. Not answering their calls is what drives them to do crazy and extreme things in order to get a hold of the account owner. He told me to tell them that I am filing for BK and direct all calls to my attorney. This morning one of the credit card companies called me because that particular card is 10-ish days late now. And I told the rep that I'm filing for BK, gave him my attorney's name & number. The rep noted the info on my acct but of course, gave me lots of payment options that were not made available to me before (several months ago when I was trying to renegotiate my APR and such). Now, he's telling me they can give 0%, min payment of 90 bucks, refund all the interest and fees in the last several months, etc. No one was working with me before or trying. Now that I am filing for bankruptcy, suddenly everything is possible. I'm just a little weary about getting into any type of conversation with them even when this rep was respectful and nice. Even though he was just simply trying to give more options before the BK is set in stone, I'm weary because I'm afraid of saying the wrong things and the calls may be recorded and used against me. For future reference, should I avoid even listening to options and getting into a conversation? Will they record and use this against me in court? Can this happen? How did you guys all handled calls from creditors or reps from credit card companies? I know Lalap123 mentioned she got a new cell phone for the time being.