If filing bakruptcy and i keep my mortgage, auto, creditcards, will this be enough to build credit in future?

Home | Links | Contact Us | Bookmark

Financial Forum Search :

Financial Forum

Credit

Finance Discussion Forum

Advertising & Marketing Corporations Credit Insurance Investing Personal Finance Renting & Real Estate Small Business Taxes Business & Finance

How do i get my money back for credit card charges?

...

Would you call debt collectors back?

I just got a phone call and when I answered it was an automated message telling me to call a woman (gave me her name) and that this was an attempt to collect a debt. I think it would be silly to call ...

Real or con?

hi guys, have ever heard of business propsal that sound like this
A banker offer you a propsal that profit split 50 - 50
Then he / she will ask for your personal information like name, ...

If information viewed on my credit report from the credit bureau is in accurate, what do I do?

I have recently reveiwed my credit report through experian credit bureau. Several account paid are still reported as open. Do I contact the credit bureau or the credit agency itself?...

I am 19 with bad credit. Please help!!?

I two credit cards that are closed do to lenders' request from being delinquent 60 days. Now I have a poor score according to Experian. I can't believe I let this happen. I pay my car loan ...

Fixs bad credit?

i want to buy house need to fix credit to ...

As I started a finance education course recently, I realized how destructive the credit card system is to?

the country and the world. What can be done as an alternative so we can take back our freedom and sanity from the credit card companies?
Additional Details
for those of you who are not ...

Bad credit how to get your credit score up after 7 years?

...

How long can credit card companies chase debts for,is there a time limit?

...

I can not a pay my credit card got no insurance on it?

IVE NO INSURANCE ON MY CREDIIT CARD IF I LOSE MY JOB AND I CAN NOT AFFORD TO PAY...

How long does a chapter 7 stay on credit report?

...

Where can i find my credit card number?

This appeared on amazon;
Important Messages
The credit card number you entered was invalid.

The data you entered for the payment method was invalid. Please re-enter it and ...

Credit card?

...

3 years ago my credit card account went to a debt collections agency - can i pay it off and get my card back?

Probably havent paid any money for about a year as my circumstances changed and my account went to a debt company. i owe about 800 pound, maybe 1k now with charges. I havent had communication with ...

Does anyone know wher i can get a real free credit report without having to use my credit card?

...

I have four charge off Items on my credit 3 years old & less then $400 Will it help or hurt my credit if I pay

3 years ago I hit a rough stretch and defaulted on a cell phone bill and a few doctors bills. I want to know if I paid these Items now, If it helps or hurts my credit score. All four are listed as ...

Transfuring a credit card balance to a 0% card. what to do???

Hi, I got an offer to transfer a balance to a new card . I not sure how this works.

1. If I decide to transfer, Do I have to close old card because I still have half the limit left on ...

A few questions about credit cards?

I was thinking of getting a credit card ..but before i do i have a few questions and i am hoping someone will be able to help me.
I was thinking of starting with a credit card of a limit of $500 ...

Best credit card?

...

I have applied for a credit card that asks for no credit check or bank account I need to find the web site .?

...

eyes2873

If filing bakruptcy and i keep my mortgage, auto, creditcards, will this be enough to build credit in future?

SPIFIMAN1

I agree with SCH to a point.

I went through this several years ago and reaffirmed on a open auto and it helped me tremendously.

The thing you need to know is once you file your creditors will stop reporting to the bureau. So whatever you are allowed to reaffirm on be sure and call your lenders and make sure that they continue to report.

Because of the auto loan that I had, I was able to buy another vehicle with no money down and 3.9% interest 2 years later and buy a new home 1 year after that with no money down and a fixed 6.5% rate.

So it can be done.

SCH

If you are keeping all of those things a judge will not allow you to file...you can try to keep one credit card...but the likely hood is that that card will automatically close when they get notification of filing bankruptcy.

Usually you are allowed to reaffirm on your mortgage and one auto per adult...but not on credit cards.

It takes years to rebuild your credit after bankruptcy...and it stays on your credit report for 10 years. So don't go into this without that knowledge and the knowledge that it will take years to get to the point where you can get new loans.

Baz

If you are filing for bankruptcy, you will have no house or credit cards they will be taken form you to help pay your bankruptcy.

beauty s

Yes, just make sure you pay on time

in +HIM+

If you're keeping all of those accounts out of the bankruptcy then why are you filing?
Most of the time, people keep the accounts that have a good payment history. If all of those accounts are in good standing, you might want to reconsider filing and instead try to clean up what's negative on your report.
Remember that a bankruptcy will stay on your report for 10 years. You will be very susceptible to loans and ccs with high interest rates and when it comes to reputable lenders, you will not be able to apply for anything major for at least two years.

If you do not include in the bankruptcy filing, morgtage, auto, cards............
What in h*** are bankrupting?
If you include those, you won't retain any.

Steven's Love

Filing for bankcuptcy means you give up any financial obligations. Which means no more credit cards, no more mortgage. I don't know what will happen with the car though. That is something you will have to ask the dealership you are buying it from. If it's yours outright then there is no way you could get credit from it. It will be hard to build credit in the future after a bankruptcy. This will be on your record for a while. Unless you are so much into debt that there is possibly no way of paying off your debts then bankruptcy is a stupid idea. Plus it isn't that easy to do.

Hoptoad City

if you file bankruptcy your credit card companies will cancel you and you will have to refinance your house. Good luck refinancing though. You will literally have no credit!

Enter Your Message or Comment

User Name:
User Email:
Post a comment: