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    #1

    Credit Report

    I just ran my Equifax Credit report and score last week (about three weeks after discharge) and I have a score of 674. I was completely shocked by this. I was expecting it to drop to the 500s. What does this mean for me? I still haven't gotten a secured credit card or anything like that. So, I technically have not started rebuilding my credit.

    I was in a joint Ch. 13 and then I converted to a Ch. 7. On my credit report two of my credit cards (Chase) show "Wage Earner Plan" while the others show "Included in Bankruptcy". What does that mean?

    My case still hasn't closed yet. Still waiting to hear about what's going to happen to the trust. I feel so bad because I'm one of 4 beneficiaries of that trust.

    Thanks for listening!
    Tags: None
    #2
    Having a 674 score right out of BK is not unusual. "Wage Earner Plan" refers to the Chap 13. It may take sometime after your BK is closed for things to settle down on your credit report.

    You shouldn't feel bad about the trust. Your BK should not jeopardize the other 3 beneficiaries' interests. The trustee cannot get anything that you weren't entitled to on the date you filed BK.
    LadyInTheRed is in the black!
    Filed Chap 13 April 2010. Discharged May 2015.
    $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

    Comment

      #3
      The LadyInTheRed, you always calm me down and have the best advice.

      How long does it take a bk to close? My atty emailed the trustee earlier this weekend to see if there was a verdict on the trust and she hasn't responded (that I know of).

      Apparently, the trustee did admit to my atty that she doesn't even know if it's even legal for her to get that money because it's not a tangible asset like a house or car. The waiting still sucks, though....

      Comment

        #4
        The timing of the closing of the case is dependent on whether the trustee decides to abandon your interest in the trust or pursue it. If she does not abandon it, it depends on how long it takes her to liquidate the asset and distribute it to creditors. If she takes too take action, your attorney could file a petition to force her to abandon it. I can't tell you what too long is.

        I hope you hear news soon! In the meantime, since there isn't anything you can do to move things along, try to forget about it and enjoy being debt free.
        LadyInTheRed is in the black!
        Filed Chap 13 April 2010. Discharged May 2015.
        $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

        Comment

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