Already filed CH.7, looking to file CH.13

[qtoktoc]

Hello!
Backstory: I filed CH.7 and was discharged in 2019. I filed because I had a lot of debt that stemmed from my financially irresponsible college years in 07-09. I filed when I was married w/ kids and looking forward to a house. I knew it was a 2 year wait and was okay with that.
Fast Forward to 2025: COVID hit, prices went up and I'm now divorced and financially supporting 3 kids on my own. It has been HARD.

Unfortunately, I haven't reached the 8 year mark from Ch.7 so I can only file Ch. 13.

My checking, savings, two CCs (26k) and Auto Loan (12k remaining) with NFCU... & I love my relationship with NFCU.
& other miscellaneous collections ranging from medical to an old apartment: approx. $6,500 (that my ex-husband stopped paying on after I moved out due our abrupt separation but it was in both our names) ...

I'm still unsure if this is the right move? What are limitations that come with Ch13? Will this ruin my relationship with NFCU? Will I ever get a house with 2 BKs on my file?

I'm just confused ...

[justbroke]

Welcome to BKForum.

Yes, when you are in an active bankruptcy and hold NFCU accounts your account will be flagged. That flag will not come off unless and until they have been paid in full. So if you discharge any debt you will be banned from taking on any new credit products. You will get to keep your checking/savings and even your vehicle (provided you continue to pay).

I would not worry about NFCU. Worry about you and your family and a roof over your head.

You can get a house with 2 BKs since FHA only looks back 2-years form discharge. A conventional loan (Fannie Mae/Freddie Mac) will take 7 years since you'll need the BK to fall off the credit report.

The positive thing on a Chapter 13 is that you'll likely pay some dividend to the unsecured creditors (and maybe even 100%) which would get you partially back in the good graces of NFCU.