Announcement

Collapse
No announcement yet.

User Profile

Collapse

Profile Sidebar

Collapse
shipo
shipo
Moderator
Last Activity: Today, 08:54 PM
Joined: 02-23-2020
  •  
  • Filter
  • Time
  • Show
  • Source
Clear All
new posts

  • The only financial institution to file against me was the holder of the second mortgage on our house. We were deeply under water in 2013, even though we'd owned the house for 11 years and had sunk more than a quarter of a million into upgrades over that time. My wife was unemployed and I was grossly...
    See more | Go to post

    Leave a comment:


  • Congratulations Flgranny, get the monkey off your back and sleep better at night. CapitalOne is an odd duck, you have a better chance of getting a good credit limit with middling credit scores right after a bankruptcy then you do once your scores recover up into the 800s....
    See more | Go to post

    Leave a comment:


  • shipo
    replied to Available Credit
    To underscore what justbroke wrote, dismiss anything you see on Credit Wise and Credit Karma, they are what are called FAKO scores (i.e. Vantage 3.0) and are ignored by the credit industry; the only scores which are relevant are the FICO scores which you will not get from those two sources.
    ...
    See more | Go to post

    Leave a comment:


  • shipo
    replied to 4 Credit Cards???
    I typically only use one card for my "reporting card", if you use a card and never let it report a balance, that doesn't qualify you for closure for lack of use; closure only happens when you go a year or more without making a single charge. I have two or three cards which are several years...
    See more | Go to post

    Leave a comment:


  • shipo
    replied to 4 Credit Cards???
    So, as if to illustrate my point above about playing the AZEO game instead of the AZ (All-Zero) game, all of my revolving accounts were reporting $0.00 balances earlier this month, and just like clockwork, all three of my FICO 8 scores dropped, here's one of the reports I got when it happened:
    ...
    See more | Go to post

    Leave a comment:


  • I cannot answer all of your questions, but I do have few possible answers for you:
    • I strongly recommend contacting not just one attorney now, but more like three to five attorneys now; interview them all and pick the one you are the most comfortable with. In my case I interviewed attorneys more than
    ...
    See more | Go to post

    Leave a comment:


  • shipo
    replied to Done, Stick a fork in me I am done!
    I love all of these Chapter 13 success stories; congratulations!
    See more | Go to post

    Leave a comment:


  • shipo
    replied to We might move in 2 yrs
    Well, if, and at this point that is a pretty big IF, we find a good place any time soon, one consideration would need to be how livable it will be toward the end of our lives. We're both nearing 70 and after years of being very active, we're assuming things will catch up to us some day and navigating...
    See more | Go to post

    Leave a comment:


  • shipo
    replied to We might move in 2 yrs
    Renting is not going to happen for us, ain't no way I want to move twice.
    See more | Go to post

    Leave a comment:


  • shipo
    replied to We might move in 2 yrs
    A few comments:
    • Checking your "free" credit scores at banks and other financial institutions (Vantage 3.0 at CapitalOne and one of the FICO 9 scores at PenFed) does nothing to inform you what your 5/2/4 FICO mortgage scores are; the only way I know to get all of one's FICO scores (of which
    ...
    See more | Go to post

    Leave a comment:


  • shipo
    replied to Apt leases
    I was nearly two years into a lease when I filed for Chapter 13; my lease converted to month-to-month at the two year mark and I ended up living there for another 7 years.
    See more | Go to post

    Leave a comment:


  • shipo
    replied to New here
    Flgranny, lots of us here have been through either a Chapter 7 or a Chapter 13, some have been through both. Yeah, it is a daunting prospect to file for bankruptcy, but there is definitely light at the end of the tunnel....
    See more | Go to post

    Leave a comment:


  • shipo
    replied to Paying credit cards
    And every attorney I talked with before my bankruptcy told me to stop paying my bills NOW!
    See more | Go to post

    Leave a comment:


  • No, if you received your discharge, then the debt is not taxable. If you then received a 1099-C from one of your former lenders, you need to file a Form 4835 with our taxes to indicate the debt on the 1099-C was discharged, and as such, not taxable.
    See more | Go to post

    Leave a comment:


  • shipo
    replied to Tax Return Question
    Mine was simply the full Form 1040, none of the other schedules were required.
    See more | Go to post

    Leave a comment:


  • shipo
    replied to Bankruptpcy not nrvvesrt
    Interesting, so if I understand correctly, default on what you cannot afford, let the creditor file against you, and you'll be good to go.
    See more | Go to post

    Leave a comment:


  • shipo
    replied to Checking account freeze
    As long as you don't have a credit product with the credit union, opening up a checking account is typically okay and will not get frozen. However, if you have say a credit card with the credit union, and that card A) has a balance, and B) will be included in the bankruptcy, then credit unions typically...
    See more | Go to post

    Leave a comment:


  • shipo
    replied to Newbie
    Welcome mackiereese and congratulations on your discharge; a good place to start is this thread: https://www.bkforum.com/forum/after-...uilding-credit

    Regarding a new car; you have three basic options:
    1. Keep your current car running for
    ...
    See more | Go to post

    Leave a comment:


  • shipo
    replied to 4 Credit Cards???
    Both, there are two different metrics, one for individual accounts, and a second for total credit limit.

    If you are trying to improve your scores, the best model you can use is to keep all cards reporting a $0.00 balance every month EXCEPT one; this is known as AZEO (All-Zero Except One),...
    See more | Go to post

    Leave a comment:


  • shipo
    replied to Horses
    Off topic, but yeah, one of the horses in my care was a champion rodeo horse (he was a Quarter Horse); he was Mister Alpha in the pasture until he was 35; he finally passed at 37. I still miss that horse.
    See more | Go to post

    Leave a comment:

No activity results to display
Show More
Working...
X