On the downhill side now I hope

[ssmdem]

Payed the attorney's retainer this week and have informed the credit card companies that we're filing. Going to have to go for it in November instead of December, so we'll be looking at having to pay back the inisider payment from last December, but small apples when compared to what we're discharging.

My attorney has indicated we should have no problems whatsoever. Still haven't heard a word from our mortgage company regarding our payments or any word on the modification application either, other than "we have received it." Still have no hope in getting a modification -- but the attorney has said we can count on being in the house at least until March or April of next year, so I'm good with that. She did say the bankrupcty filing may speed that up, but we've still got a while before we have to worry about it.

Alll and all she sounded very positive. She pulled our credit reports for us, and I was shocked at how quickly our score has plummetted. Just four months ago, it was 723 -- we were current on all payments ---- that's the point when we stopped paying, and it is now 525. UGH!!

So, less than 60 days to wait this out -- so ready to be done!!

[ccsjoe]

As I replied in your other post, CONGRATS!!! Hope it all goes smooth.

[Panacea]

I'm just beginning too. Retained the lawyer but still have 3 more payments until he can file. I want to wait to file till after the new year, but he seems to think "why wait".

Your credit score decline is incredible!!! This month is the first time I have never paid my bills on time or at all!!! I have great credit at this very moment, according the FICO!!! By the end of the month, I'll be down in the 500's with ya!

It amazes me that someone would look at my FICO score just yesterday, and think I would've been a good credit risk!!!!!!!!

[ccsjoe]

I was shocked, my score only dropped 92 points between pre-filing and post-filing. Not one missed or late payment, only several over the limit notes.

[AngelinaCat]

Our credit score was at one time 820--better than Clark Howard, the Consumer Advocate. Of course after we filed 12/28/2007, it plummeted. I don't remember how low it got, and do not know now what it is. We don't bother looking. We are going cash only.

[tcreegan]

Hello all,

Be sure to check your credit reports after your BK case closes. All accts in the BK should have a zero balance and noted 'IIB' or 'Included In BK' Make sure there is no negative notation like closed, charged off, etc. It is a rare day that the credit reporting agencies get it right. Letters tend to work better than phone or internet contact. You would be surprised at how fast your credit score can bounce back.

Tom in Colo

[ssmdem]

Hello all,

Be sure to check your credit reports after your BK case closes. All accts in the BK should have a zero balance and noted 'IIB' or 'Included In BK' Make sure there is no negative notation like closed, charged off, etc. It is a rare day that the credit reporting agencies get it right. Letters tend to work better than phone or internet contact. You would be surprised at how fast your credit score can bounce back.

Tom in Colo

I guess I should consider myself lucky that we're only talking 3 credit accounts. We've already had everything else that might have been open (wasn't much) closed by consumer -- and this credit report does indicate that all of that is listed correctly. As long as no collection agencies get added to the list before we file, then at least we're only looking at three accounts and the mortgages to make sure they are listed correctly. Hoping we bounce back soon -- ready to start over the SMART way this time.

[tcreegan]

Sounds like a piece of cake ssmdem, be sure to check all three; Experian, Equifax, and TransUnion

Tom in Colo

btw, your credit score drop seems too drastic, I'm curious if it will come up when the BK is entered....