Now The Scary Offers Start Coming....

[FilingOnMyOwn]

Got a letter from my credit union today. Its a letter of pre approval to take to the local boat show. From what the letter says, you just take the certificate to the retailer and drive off with the new boat.

$35,000.00 @ 6.5% for 180 months!

Are these people crazy! I am not looking to go bk again just yet....

[lrprn]

$35,000.00 @ 6.5% for 180 months! Are these people crazy! I am not looking to go bk again just yet....

As peoples' excess money dries up and the current millionaires already have their expensive toys and don't need more, the market for luxury items like boats is fast disappearing. You can almost smell their desperation. Good that you see through the pitch...I pity the financially-on-the-edge people who don't.

[tradewiz50]

FOMO,

Your a rare exception for someone that filed bankruptcy. To clarify, you stated you filed Chapter 7 on one credit card and mostly medical if I'm not mistaken? Thus, your open to all the credit card issuers after your discharge. It means your not black listed to say. If you included a credit in your bankruptcy. Some credit grantors maintain a permanant black list and some don't.

The bottom line is your a vary rare exception for re-establishing credit. Most people cannot obtain credit lines like yours for many many years after discharge.

But, congrats on the boat loan certificate.

[FilingOnMyOwn]

Tradewiz, from what I've noticed, most bk friendly lenders do not blacklist people.

[tradewiz50]

Tradewiz, from what I've noticed, most bk friendly lenders do not blacklist people.

Providian, MBNA, Discover, B of A did with me.

[SinkingFast]

I know how you feel, FOMO.

We need a car. Something we could trust to get in and take a road trip. Not just a beater for around town. A car I won't have to "schedule" time for to go grocery shopping.

We got an email from CapOne offering a Blank Check loan.

UGH!!

But I don't see anyway to do it.

Right now, we're juggling getting repairs done on 2. Had a planned repair set up for one. Gotta put a radiator in another and that can't wait.

Kahching!! Kahching!!

[FilingOnMyOwn]

Yeah I hear that sinking.

Providian, MBNA, Discover, B of A did with me.

Tradewiz, those are not bk friendly lenders. Doesn't matter if you would have bk'ed them or not. Providian is now wamu, and the 3 after that also have strict anti bk lending practices.

[tradewiz50]

Yeah I hear that sinking.



Tradewiz, those are not bk friendly lenders. Doesn't matter if you would have bk'ed them or not. Providian is now wamu, and the 3 after that also have strict anti bk lending practices.

You can credit from all 4 after lenders after a 5 year mark from your discharge. This I know personally.

[FilingOnMyOwn]

And that makes them just about totally irrelevant to the rebuilding process. 2 more years and you can have an amex 7 years after bk if you're not blacklisted, or a citicard if you're not blacklisted like I am.

So the point is, even cards that require 5 years post bk are still not bk friendly. They may still turn you down due to bk 5 after 5 years.

Its mostly the not bk friendly lenders that blacklist people.

[lostinmich]

How do you know if you're blacklisted? Do you ever get off the blacklist?

[FilingOnMyOwn]

As far as I know, the big prime banks like citi, boa, amex etc., blacklist you for life. You know you're blacklisted if you included a debt to that lender in your bankruptcy filing.

[BKTango]

I'm totally blacklisted as is my hubby. We included BofA, MBNA (my card before the merge) 2 Chase cards, Cap One, and Citibank, all of the big dogs.

Yep blacklisted and it feels so good. I never want anything to do with any of those companies again. Or credit cards for that matter.

[jal1129]

hmm...I don't know about blacklisted for life. Not that I am proud to have bk twice, but we have and both times we bk BoA, Citi, Chase, Cap 1, Providian among others.

First time also included Discover and Amex. Was never able to get approved for Discover again and never even bothered trying Amex.

[FilingOnMyOwn]

You bk'ed citi and got them again? Even employees of citibank will tell you they blacklist for life...

[jal1129]

yeah we did. Although the first time we bk was many years ago. So if its even something they have started in the last 15 years it probably would'nt have affected us.