Applying for CC during filing

[subking]

First hello, I can't believe I just joined a BK forum or that there was even such a place anyway here I am in the BK forum and now to my first ?

Can I apply for a CC during my Chapter 7 case which isn't discharged yet?

[matthew123]

apply for credit during bankruptcy

no dont apply for any new credit either cards or accounts before your discharge. they will find out and will jeoperdize your case

[liz417]

No, don't do anything to jeopardize your BK.
Just curious, why do you want credit again so soon after (or during) your BK??!!??

[subking]

I often need credit for work related expenses and its hard to function w/o any CC in business enviroment.

[ansky0007]

I often need credit for work related expenses and its hard to function w/o any CC in business enviroment.

Try a debit card it works just as well and living on your own cash is a nice feeling.

[subking]

Yea thats what I've been doing, but it can be very stressful if I need to make a purchase and don't have the full amount.

[maxfax3]

I know this can vary pending on the type of work you are in.. I'm a sole proprietor so I can pretty much do as I want, and if someone doesn;t like it they can go elseware..

What I ended up doing if something is needed that I don;t have the cash available for is either asking the customer for the money up front, encourage them to buy it themself (and save them selves a little money, although it does hurt my profit a bit on some items) Or if it's work for a local company (and some individuals) they all have charge accounts at the same supplier I use so I just arrange to charge it to them...

I have a charge account (handshake agreement)set up with my supplier that is currently 0 balance and will stay that way until this is all over with.. The owner is a good friend and was willing to work with me and still allow me to charge items as needed even with what I'm going through(I always paid him off weekly anyhow) but for the sake of the BK process I'm going to let it be.. Kinda nice not owing one more person even if it's small amounts and short term...

[subking]

Thxs for your reply. I hear ya but for me its more of a situation where I need to covers expenses first to make the pay day later and not having available credit to cover cost sucks.

I was under the impression that it didn't matter if I opened an account as only the accounts listed in my BK will be discharged anyway so why do they care if I open an additional account which can't be discharged?

[ansky0007]

Thxs for your reply. I hear ya but for me its more of a situation where I need to covers expenses first to make the pay day later and not having available credit to cover cost sucks.

I was under the impression that it didn't matter if I opened an account as only the accounts listed in my BK will be discharged anyway so why do they care if I open an additional account which can't be discharged?

Your missing the whole point of why you are going bankrupt, Do you think that if you applied for a card and even received it that they would not automatically cancel it as soon as they see the bankruptcy on your report?

Bankruptcy is a real change in life... Its not easy but if you dont want to end up in the same place again you need to make real changes.

[banca rotta]

First hello, I can't believe I just joined a BK forum or that there was even such a place anyway here I am in the BK forum and now to my first ?

Can I apply for a CC during my Chapter 7 case which isn't discharged yet?

I wonder if you will even get one with everything going on. I was Christmas shopping and 2 stores, so far were pushing their major credit cards (not private label either) on me offering discounts on my purchases if I sign.

It seems inconsistant with the news of the great credit crunch.

[subking]

I haven't applied for one and of course all my accounts are closed but I know I'm gonna need one in the future not to rack up charges but to pay for business until its reimbursed. So far I've done good by using my debit card but that only goes so far.

[maxfax3]

You'll at least have to wait for the discharge... Waiting until the case is closed, and even a bit past that woudl be wise...

[Flamingo]

I haven't applied for one and of course all my accounts are closed but I know I'm gonna need one in the future not to rack up charges but to pay for business until its reimbursed. So far I've done good by using my debit card but that only goes so far.

Approach your employer and ask for a company sponsored card for your expenses. I understand your situation inasmuch as you have reimbursable job expenses which you yourself right now cannot afford to cover without a credit card. However, when you file BK, your chances are less than zero in obtaining another credit card anytime soon, especially in this economy where even folks with excellent credit cannot get approved. The only other thing is to have your expenses charged to your employer somehow until you are able to get back on your feet or have your employer give you an advance to cover your expenses. Best of luck to you.

[jessegirl]

Flamingo is right. First ask the company for a company expenses cc. Most bigger companies will offer that to you. I know its hard when you are out in the corporate field and you need a card for company expenses. Goodluck in your search, but i think that you are going to get alot of denials. I am not even discharged yet and I have been getting preapproved cc's with a 24% interest rate and a bunch of fees. I just rip them up. We pay cash for everything. I am alot different with what i buy now. With the CC i would just buy it cause i wanted it. Now, i buy it only if we need it. It does take some getting used to. But, you will notice once you pay cash for everything that you look at what you spending. Goodluck.

[shabam]

I haven't applied for one and of course all my accounts are closed but I know I'm gonna need one in the future not to rack up charges but to pay for business until its reimbursed. So far I've done good by using my debit card but that only goes so far.

The problem you will face is that even if you open a card and are approved they will most likely cancel your account once the credit company runs their weekly, monthly, quarterly, annual credit review and sees you are bankrupt.

The best thing to do is wait post bk and then apply. This way the creditor will know your situation and will probably charge you the appropriate post bankruptcy fees and interest rate. Then again, considering the current credit environment that may also be an issue.

The chance that you can open a card prior to being discharged and keep it open post bk (in this environment) is probably in the decimal percent.