Does HSBC blacklist you?

[reb512]

in my filing, I listed HSBC autofiance and my orchard card. I filed ch13 so I know they will be paid back a portion of the debt. Does anyone know if HSBC blacklists you forever? it's kind of hard to find a cc that doesn't belong to them. I'm still in my chapter so it will be a very long time before I apply for credit. I just thought I would ask since it was on my mind

[lrprn]

in my filing, I listed HSBC autofiance and my orchard card. I filed ch13 so I know they will be paid back a portion of the debt.

They will each get paid back a portion only if they filed claims before 90 days after your first 341 date - did they?

Does anyone know if HSBC blacklists you forever?

The one card that NEVER forgives or forgets bk is American Express (although there are rare exceptions). Did you try a search for HSBC here in the forums to see if members have posted any information already?

However, as you said, it will be a long time before you get new credit again anyway. Work on keeping all your secured payments absolutely on time and begin to clean up your credit report about a year before your Ch 13 is due to end. Also keep in mind that you are going to come out of Ch 13 in a favorable financial position that many cc creditors will find attractive. I think you'll have excellent opportunities for new credit after your 13 if your credit history remains excellent during your 13. Just something to keep in mind

[magyar123]

Of course they will black/s..t you. You filed on their "precious" product. Don't know if you will be on that forever, but if they areanything like Citi or Chase you will be.

[Flamingo]

Since HSBC is BK friendly and you included them on a bankruptcy, only time will tell after your Chapter 13 is over if they give you another chance. As lrprn states, it will take time for you to get yourself in order and the best thing to do, as I have found out going through our Chapter 13, is to pay everything on time, all utilities, bills and your Plan payment, and not be one day late with anything. You need to show you can do that and do that over an extended period in order to be considered for any credit at all. While Chapter 13 is hard, it does give one 3 to 5 years to prove they can make Plan payments on time and utilities, mortgage payments on time and in full which can be a big help for after discharge.

[reb512]

I haven't had my 341 yet, so we will see who wants my money lol. Well I've read where Capitol one gave some one credit after they bk on 2 cc, but nothing really with HSBC other than they are bankruptcy friendly, So I'm thinking that if they are getting money from me instead of nothing, they might give me new credit down the road. I plan on only using credit as a tool, and using it sparingly and correctly, and living off a mostly cash system, I never want to be bankruptcy again.

[BassBoy]

I had an HSBC loan (HELOC) and for the heck of it, I applied for their MC and actually got approved. I also got a Best Buy card as well.....so......I'm guessing they forgive. I don't know if the fact that my loan that was discharged was a HELOC, and these were CC's has anything to do with it. BTW, I didn't keep these cards long. I used the Best Buy card for a new DVD player that I purchased earlier this year......90 days same as cash.......paid if off and closed it. I held on to my HSBC MC for a few months and didn't use it. So far, it doesn't appear that any old debts with them has affected my ability to obtain credit with them.

[PaKettle]

My GM card (HSBC) was allowed to ride through the BK because I did not owe them anything and also did not file against any HSBC cards or accounts. However they lowered my credit limit to $300.

Then I was able to get an HSBC Orchard card ($750) and an HSBC BestBuy MasterCard (good anywhere) with a $500 limit, so I'd say they are bk friendly, but maybe not if you filed against them.

They're probably like CapOne - bk friendly ONLY IF you did not file against them.

[mgmadara]

We included a Best Buy card which is backed by HSBC in our filing in 2005. A few months ago my DH was approved for an HSBC Visa card with a $4000 limit. We waited 2 1/2 years post discharge to clean up our credit reports and apply for cards and our FICO scores are in the low 700's so maybe that is why HSBC approved my DH.

[HHM]

Actually, you have black-listing all backwards.

Post BK debtors are actually quite profitable for credit companies. The people that get "black-listed" are those that actually pay off their balance every month. Debtors that pay off their balance every month yield NO profit to the credit card company. Lenders are looking for people that carry a balance and pay the minimums.

It is not so much that credit card companies black-list you if you discharge a debt against them, it is simply that the BK disqualifies you for certain products offered by that lender. Nearly any credit card offer is based off of a credit report and other marketing reports available to lenders.

This forum is replete with stories about people getting credit card offers 6 months after BK from banks to which debt was discharged.

[reb512]

Thank you HHM, and thank you everyone you have provided me with some very helpful information.