Hey, just wanted to share with you guys

[fellowpoorman]

Agree, some things shes said seem to make no sense, shouldn't have said it like I know it to be true, sorry 'bout that. This is a screwey process. 7 days to go for me, crossing me fingers

[edwards2]

I like Suzie Orman too. I did not see that particular show but I can at least see her logic...filing BK is a two-edge sword. Obviously the bad thing is you take a direct hit to your credit not to mention the embarrassment, etc; the positive thing is you have had your debts discharged and the creditors know you cannot do it again(hope you dont have to) for x number of years. Once the BK is off your record it is like you have never filed so whatever your score is then is compared to non-filers. As for the majority of BK filers doing it again...I have heard the same thing from another financial person. I personally think that might have been more of a case in the past than now because you have to jump through more hoops now to file a Chapter 7. Regardless, the economy drives so many people to do things they would never have considered. Having said that I would think getting a loan now would be more costly since the BK is still on your record and is a HUGE derogatory hit. I would think it would cost less money to get a loan post-Bk discharge. All of us can probably get loans; its a matter of how badly we need the loan and how much we are willing to pay for the loan. I have been told by several lenders that even waiting a year post-BK discharge would be beneficial but sometimes you can't wait....

[fellowpoorman]

I watch her from time to time, its good advic, can't say I understand it all. I am far from a financial wiz-kid, but still watch. I am sure she wouldn't put out false info though, but who knows, I remember her telling someone that they could not file bankruptcy since the new laws took place, this girl made about 35 g's a year but owed around 50,000, didn't make sense to me .

[edwards2]

wonder why she told the girl that; must be more to the story than that surely. Anyway, I am far from a financial guru either. They all try and give good sound financial advice but not everyone is able to do what they advise. It is going to take us awhile to get back on the financial track. We didnt get into this situation overnight and wont get out of it that way either but we are doing better.

By the way anyone know which of the credit services is the cheapest? I tried Privacy Matters; didnt like them. They had the same scores for my husband and I for months even though we cleared up some things and added some creditors we have paid off every month. When I questioned them about it they promised to respond within 24 hours but they never did. I sent them emails 2x and even called them but they still did not take care of the matter so I cancelled. I want to monitor my husband's credit report and mine...I have disputed and have received responses from the credit reporting agencies but it is an ongoing process.

[anonymuse]

Ok, I'm a bit slow...why do they drop again after the 10 years when the bk is taken off the record?

[NASCAR20FAN]

Ok, I'm a bit slow...why do they drop again after the 10 years when the bk is taken off the record?

Thank you! This conversation was getting a bit off track. The point is to dicuss the ways to handle getting your score up not "suzies ormans bk thoery"

[aa06a47]

Nascar, I admire your courage to do this even prior to your 341 meeting. I am monitoring my credit reports as well, dailey, and I'm seeing the balances drop like a rock, which is very encouraging to me. In my credit report, there is only about 3 of the 9 creditors that are reporting the correct thing right now. And one of them is actually reporting correcting on one account, but not the other. My credit score goes up everytime someone takes a balance off. When I filed, it dropped to 555 (something like that), now it is over 615, not by anything I did, it is just the balance on my cards dropping is what is showing the improvement.

My question, would it be better to wait until after the confirmation of your plan to actually do this? My situation might be different, I'm in a Chapter 13so, if the companies that show me as CO and discharged in Chapter 7 don't realize there mistake, will this mean more money to those who are not as incompetent and get it right?

I'm going to wait until September time frame to start this process. That is past the date for proof of claim. Maybe it won't make any difference, but if those blow hards don't catch there mistake, I ain't going to tell them!!!

[NASCAR20FAN]

Nascar, I admire your courage to do this even prior to your 341 meeting. I am monitoring my credit reports as well, dailey, and I'm seeing the balances drop like a rock, which is very encouraging to me. In my credit report, there is only about 3 of the 9 creditors that are reporting the correct thing right now. And one of them is actually reporting correcting on one account, but not the other. My credit score goes up everytime someone takes a balance off. When I filed, it dropped to 555 (something like that), now it is over 615, not by anything I did, it is just the balance on my cards dropping is what is showing the improvement.

My question, would it be better to wait until after the confirmation of your plan to actually do this? My situation might be different, I'm in a Chapter 13so, if the companies that show me as CO and discharged in Chapter 7 don't realize there mistake, will this mean more money to those who are not as incompetent and get it right?

I'm going to wait until September time frame to start this process. That is past the date for proof of claim. Maybe it won't make any difference, but if those blow hards don't catch there mistake, I ain't going to tell them!!!

Honestly, I don't know wheather it is better to wait. The one thing I do know however, is that if you do get discharged how much time and effort have you saved by getting it all done early. Wosrt case, I think. is there all that krap that should have never been on your report in the first place is now off and you can get rid of the other stuff as you can.

[Michelob]

That is advase that everyone shoudl know of. I think I'm gona start on that tonight!

[NASCAR20FAN]

My success story so far!

I have started the dispute process on all three credit reposting agencies. I haven't had my 341 yet currently acheduled for the 5th of May. I'm hoping that that will help a little to once I get discharged.

In less than a month:

Transunion +11 pts
Exerian +3 pts
Equifax +28 pts

All my disputes are not even completed yet! I'm soo happy! You guys have no idea! I'm setting a very reachable goal for myself to be 600+ avg. by the end of the year. The advise I have recieved on this forum has helped me soo much, but there is still along way to go. Thanks for the help and support! I'll keep you updated on the happs!

THE 20 FAN

The latest...

Transunion +48 pts
Exerian +13 pts
Equifax +33 pts

Things are going really well here