Announcement

Collapse

Forum Rules (Everyone Must Read!!!) (updated: 04/28/2015)

Welcome to the Bankruptcy Forum. Bankruptcy (BK) Forum is known as BKForum.com and will be referred to as BKF hereinafter. In order to ensure a long term success of our vibrant community, we have established certain rules and guidelines to which everyone must adhere to. Please take your time to carefully read our rules, before you start to participate in the community.

Things you agree to do:
BKFORUM.com (BKF) users agree to use the search function before starting a new thread. This prevents duplicate discussions and allows for better organized topics.

All BKF users agree to read the sticky posts which may be available at the top of a forum page. These Sticky posts often contain valuable information. They may also outline more rules and guidelines specific for that particular forum, stickies are put in place by that forums moderator(s) or admin(s).

Things you agree not to do:

All BKF users agree not to call people names or write a post simply to make a personal attack, or get a negative reaction; this behavior is not allowed on our forum. The use of derogatory language aimed at anyone will be severely dealt with. There is no need to agree with each other, or to even like each other. However, by signing onto BKForum.com you agree to treat each member and guest with the respect they deserve. No threats or personal attacks will be allowed.

All BKF users agree not to discuss, engage, or encourage any behavior or activity which violates the law. Discussion of drugs, violence, murder, theft, vandalism, fraud or any other issue which could be used to help individuals break the law is strictly forbidden.

All BKF users agree not to "bump" old threads, unless there is a specific benefit to the community by doing so. But in most cases, please don't post in very old threads, instead start new threads.

All BKF users agree not to attempt/use another members account. It is against BKF rules to use any account other than your own. Impersonating another member will result in an immediate ban. It is also against the rules to open more than one account in your own name without permission from a moderator or administrator. If you have been banned for any reason, it is against the rules to open another account. If you were banned temporarily and you are caught using another account you will be banned permanently. Choosing a moniker which is similar in either sound or spelling as a moderator or administrator is strictly forbidden.

All BKF users agree not to private message any moderator, admin, or other member with questions related to their personal circumstances (Questions about the forum or issues with the forum are ok). This forum only works when members share their experience and insights with everyone.

Things you agree not to post:
All BKF users agree not to post any derogatory/racist/or sexist remarks. This includes attachments, links and all information contained within posts, signatures, and avatars, failure to comply with this rule will result in a permanent ban.

All BKF users agree not to post any copyrighted or trademarked information without the express written permission of the owner(s) / proper citation of source.

All BKF users agree not to post any real names, addresses, telephone numbers, email addresses, social security numbers, or any other personal details (their own or other people's).

All BKF users agree not to post links, pictures, attachments, videos, or the like of pornographic content, objectionable material or extreme violence, whether cartoon or real.

All BKF users agree not to use BKF for advertising purposes without a written contract between yourself/company/agent and the administration of BKF. Blatant advertising will result in a ban.

All BKF users agree not to spam the forums. Spam includes but is not limited to posting erroneous, non-relevant-useless, off-topic, or meaningless posts. Spam may also include posts which contain no text, or large areas of blank space between lines. Simply posting emoticons without text is considered spam. BKF is the largest bankruptcy message board and all the content is intended to help other users. Please help us improve the quality of our forum by making sure that your posts are well-worded, spell checked, grammatically correct and syntaxed.

Regarding actions of moderators and administrators:

The forum is no place to air out your opinion or be judgmental of our staff and its capabilities.

All BKF users agree not to abuse or mistreat moderators or administrators. It is against BKF rules to post any information regarding bans or any other action taken by a member of the moderating or administrative team. If you wish to discuss bans or warnings please do so via PM. To place a complaint against a moderator, send a PM to a super moderator. All Moderators are equal, any decision made by a moderator must be adhered to. If a moderator tells you something you do not like, do not go to another moderator looking for a different answer. If you are caught doing this you will be banned. The moderators work as a team and respect the decisions made by their peers and will help enforce them unless an administrator tells them differently.
If you have an issue with how the forum is run, then notify one of our administrator and we will look into the situation. We have in the past and still do appreciate any input that you offer this forum. But critical input and/or judgmental postings towards the staff will result in you getting banned.


Should you find a thread offensive or out of line, then notify a Mod in a PM so they can evaluate the situation and do the action deemed necessary.

All moderators do have active "other" lives outside of the forum and help moderate this forum in their spare time throughout the days and weeks.

If you have a problem with a member or Mod follow the proper channels of reporting it.

BKF reserves the right to delete any posts which contain anti-BKF comments or discussion. Any bashing of moderators or administrators, or any of their discussion or actions will also be deleted, and the responsible posting party(s) will be banned. Any public anti-BKF advertising, communication, or posts on another forum will result in permanent bans as well.

All warnings and bans are decided by individual moderators and administrators. Warnings are preferable to bans however, for serious offenses and repeat abusers bans will go into effect. The length of the bans can vary from several hours to permanent.

All messages posted or sent including through PM are the property of BKforum.com.

All BKF users agree not to advertiser on the forum (Niether by posting, private messaging or using your signature). If you are a company/attorney/legal adviser wishing to advertise on the site or sell a product, you must contact the head administrator and inquire about our advertising packages.

All bankruptcy related opinions expressed on BKForum.com are those of their authors and not necessarily of BKF, its staff or representatives.

You agree not to copy any material/post/content from BKF without written permission from our head administrator .

By posting on this forum you agree to these terms and conditions, including any punishment deemed appropriate by moderators or administrators in the event of an offense.

Administrators/Moderators can change these rules at any time without prior notice.
See more
See less

Credit card offer from discharged creditor

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Credit card offer from discharged creditor

    Ok, I have been following this forum for awhile as I prepare myself for my own BK. A colleague, who has since filed BK 7, and was discharged in September, has received a credit card offer from Capitol One. What is unique is that the offer states they know she has been discharged and congratulates her on her fresh start. Further, the interest rate is a low introductory rate and then converts to 18%. She is a single mother with moderate income. Even more so she discharged $6K from them. This is now the second time I have heard this, getting a offer from a discharged creditor asking them to come back. Thoughts ?

  • #2
    I have one sitting on the counter from capone. Pretty much the same letter. Congrats on your fresh start, here's a card. No annual fee, 14% interest and up to a $3,000 limit. Their lawsuit against us was for $16,000. I guess they like to forgive and forget.
    Filed Chapter 7 - 06/30/2010
    Discharged - 11/18/2010
    Closed - 12/22/2010

    Comment


    • #3
      I was discharged 8600 ( including attorneys in judgement) 5-2009, By Sept they started sending me offers. I guess they know you cannot file again for awhile.
      chpt 7 ,5-2009

      Comment


      • #4
        cap1 is BK friendly
        Filed chapter 7 on 9/17 341 on 10/20
        Chapter 7 Trustee's Report of No Distribution on 10/21
        Discharged and Case Closed on 12/21/2010

        Comment


        • #5
          Hi boomer, Hi brokejoker,

          ...not forgive and forget, its profit and loss.

          Folks coming out of a BK are going to want a small credit line to rebuild, they just unloaded a ton of debt, can't file BK for years, and history has a way of repeating itself.

          ....no annual fee card at 14%, ...down from annual fee and interest up to 24% offers...competetion must be heating up, good news!

          Watch for other fees, banks and cc companies have realized this is a lucrative market and have been trying to squeeze them in somewhere. For a large national company, fees bring in 2 digit billions annually. New laws cutting debit/overdraft fees will cut billions out so they will look for other places for fees.

          And of course be careful about 'introductory' rates and fees, a legal version of the ol' bait and switch. (around here the true masters of this are cable/direct/dish TV providers)

          Well, enough rambling on....

          Tom in Colo
          Ch7 filed 5/12/2010.....341 meeting 6/30/2010....report of no distribution 8/15/2010.....discharged 10/01/2010.....closed 11/09/2010

          Comment


          • #6
            Once you are discharged your name will go everywhere on the bad credit and/or BK mailing lists since (1) it is public information and (2) your BK will appear in your credit reports to which all sorts of creditors have access. They are gleaned for certain population segments and if you filed BK, you will get put on their mailing lists. We are over 4 years past a Chapter 13 discharge and STILL get BK junk mail and it has been off our credit reports for over 1 1/2 years. That's the extent of the mailing lists out there...I don't think BK ever really goes away.

            The reason you received the offer is because you are debt free and a source of money; plus you cannot file BK again for 8 years. And as the other poster stated, history usually repeats itself and as well indicated in this forum, people just can't wait to get those credit cards again!
            _________________________________________
            Filed 5 Year Chapter 13: April 2002
            Early Buy-Out: April 2006
            Discharge: August 2006

            "A credit card is a snake in your pocket"

            Comment


            • #7
              Flamingo,

              As i have not decided 13 or 7 yet due to a open ended divorce settlement, when did you start getting offers after filing 13. Debating the merits of a 13 over a 7 if I want to keep the house for more than a few years (custody issue).

              Comment


              • #8
                Warning: Only my opinion

                Anyone in their new start who goes for a credit card right away has to be nutz. What got you to do bk? EASY CREDIT. Fall back into your Masters lap? Then you truly wish to be a slave to others. I refuse to use credit and I have lost more than most here on this board. We have come down to living on our SS after attempting to waste our retirements to come out of this. Stupid move. Bottom line is we have learned, and are happier than ever in our lives. We have NO BILLs (other than utilities) and ow no person or organization. What price Freedom, Folks?

                Get over this credit thing and worry less about some sort of ratting. We were 820, beat that one and then go 7. 'Hub
                If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.

                Comment


                • #9
                  Ang,

                  I agree I am just amazed that they would even consider extending credit after they just got burned. What a world

                  Comment


                  • #10
                    Sure they do. What some folks don't seem to realize that when they charge off your credit card after adding all of those crazy fees, they actually make money on the charge off! Go figure, they always win!!

                    We got a $1K credit line from them that we use for gas. We charge, I pay it, just like a debit card. But we've had a lot trouble out here with debit cards at gas stations. But to have a $50K line of credit again from Citibank - NO THANK YOU! I'm with Hub -- CASH IS KING!
                    Filed Chapter 7: 7/3/09
                    341 Hearing: 8/6/09 - Went Smoothly!
                    Discharged: 11/30/2009
                    Closed: 12/16/2009

                    Comment


                    • #11
                      So far I didn't get any credit offer from any credit card company except Orchard and a whole bunch of car dealerships. I still have one credit card that survived this bk with a limit of $250. Wonder when they're gonna close it down.
                      Filed chapter 7 Jul 13, 2010 341 hearing Aug 12, 2010 Trustee's report of no distribution Aug 20, 2010 Discharged Oct 13, 2010 Closed Oct 28, 2010.

                      Comment


                      • #12
                        Regarding these cards, I was wondering what would be the best move for me to repair my credit score. Sure, I can use the card just like a debit card and pay it off every month, or I can go purchase something for a few hundred dollars and just pay it off on time (which would cost some interest.) Would doing the latter result in me getting a higher credit score down the road?

                        Comment


                        • #13
                          That's a good question JackBondLove. I'd love to the know the answer. I obtained a Cap1 card to start and with the hopes of building up the credit line (I hear the shrieks and screams).

                          I do contract engineering, usually for very large companies and travel is part of the deal. The company employees that I typically travel with, have an in-house travel agency, corporate cards, etc. I do not get the benefit of that corporate largess, so I tote the note until expenses are paid. If the corporate guys change plans and travel details then I may be stuck with change fees, or on occasion, non-refunds. The company is fine with relatively quick reimbursement, including the throw away tickets, but over the past few months I've been juggling a few thou. That I can do but that leaves me vulnerable to be able to do any last minute quick trips. Long range planning for trips to get decent airfares, etc. can tie up my cash for even longer.

                          Actually I only use the Cap1 card once or twice a month for minor stuff or at restaurants in foreign countres where I don't want my bank debit/credit card exposed; the anti-fraud measures in a CC are not a bad thing to have in my business. The balance is paid in full each month.

                          I totally agree that "cash is king" and that's how we manage our personal lives.

                          Comment


                          • #14
                            Does anyone here have experience with a Kolhs store card? I loved this card for the "deals".......use your card and get 30% off and other similar incentives. I had this card since I was 19 or so, and never had a balance on it until last Christmas. Usually, I made a purchase, got the discount, then paid the balance at the register before leaving the store, but last year I thought I would wait until the tax refund and pay it off ($400.00). We thought around tax refund time that BK was iminent, I found out that paying them $400 would be considered a preferential payment, so I could not pay it off. If I chose to reaffirm this card, do you think they will cancel me anyways? I KNOW so many of you think I am crazy for wanting the card, but honestly, at back to school time when I have $200 in clothes and get a $60.00 discount, thats a huge savings on items I have to buy anyways. If I DONT reaffirm, do you think they will EVER give me another card?

                            Comment


                            • #15
                              Originally posted by boomer2298 View Post
                              Flamingo,

                              As i have not decided 13 or 7 yet due to a open ended divorce settlement, when did you start getting offers after filing 13. Debating the merits of a 13 over a 7 if I want to keep the house for more than a few years (custody issue).
                              Please tell me you are not basing your filing on when you can get another credit card after filing!!!!

                              We started receiving offers within the year after we filed; it was a while ago so I don't remember the exact time; I remember reviewing the offers, laughing and shredding them....Aspire Bank was the main one at that time with huge monthly fees, huge annual fee and a credit limit of $300. With all the fees, there was really no credit available. They work on people wanting to have that credit card in their pocket and hope they don't read all the fine print. You will get offers as your name will get out there after you file and it doesn't matter WHAT chapter you file. And just wait until you are discharged - you will receive all sorts of "small print" offers from every car dealership in your area offering their "BK special" to you (just read that fine print...). We even received travel brochures from area travel agencies which goes to show you the extent of how your personal information gets around when you file...
                              _________________________________________
                              Filed 5 Year Chapter 13: April 2002
                              Early Buy-Out: April 2006
                              Discharge: August 2006

                              "A credit card is a snake in your pocket"

                              Comment

                              Unconfigured Ad Widget

                              Collapse
                              Working...
                              X