top Ad Widget

Collapse

Announcement

Collapse
No announcement yet.

After BK..what changes?

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

    After BK..what changes?

    I filed on 2-23-12....had the 341 a few days ago. Headed for discharge as a no-asset.

    After the discharge what usually changes financially? Such as, will my car insurance premiums go up? Homeowner insurance?

    I know my credit will be shot for awhile, but what all can that affect for non-loan stuff?

    What have you experienced post discharge?

    Thank you

    DM

    #2
    Never noticed any changes on insurance fees (home or auto). And actually, rebuilding has not been that difficult. Got our first post BK loan from our new credit union, 8.9%- then Ford car loan at about the same, then another Ford at 5.9%. Got a few CCs- low limits, pay them in full monthly. Approaching 800 score 2 years post discharge.
    All posts are opinion only- I am not an attorney.

    Comment


      #3
      Whether insurance rates will be affected depends on state law. Some states don't allow insurance rates to be based on your credit rating. I know California is one. I don't know what the others are.
      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


        #4
        My husband (he filed) rec'd a CC offer for 9.0% the week before discharge on 3/21/12. The offer talked about rebuilding after discharge etc, so I do not think you have to go looking for it as it seems to find you!

        Comment


          #5
          Originally posted by Drazil65 View Post
          My husband (he filed) rec'd a CC offer for 9.0% the week before discharge on 3/21/12. The offer talked about rebuilding after discharge etc, so I do not think you have to go looking for it as it seems to find you!
          Yep. I'm only 2 years into a 5 year Chap 13 plan and I'm getting credit card offers with lines like "everyone deserves a second chance." I think my shredder may burn up soon.
          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


            #6
            What changes post -discharge? The phone got quite. We could tell collection agencies where they could go. We could start building up a rainy day fund. All companies we deal with, other than banks, have not changed in any way. The banks behave the same but they can no longer attempt to collect a debt. All is good. It has been a true fresh start. Enjoy it!
            Chap 7 Non-consumer --Realized headed for bankruptcy Nov 2010 --Started planning BK7 Spring 2011 -- Filed Sept 2011 -- 341 & Continued 341 Meetings Nov 2011 --No Asset Case Nov 2011 --Discharged Jan 2012 --Closed Feb 2012

            Comment

            bottom Ad Widget

            Collapse
            Working...
            X