Quote:
Originally posted by depmats
I lied - 1 more, after the BK is discharged the creditors will show on your CBR but with the caption "discharged, Ch 7" it will no longer show previous balance or payment history, that is how you FICO can rebound so rapidly.
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actually, I see:
"account included in bankrupcy" classified p&l ( profit and loss write off) the idea behind keeping one account open is to have SOME performing credit. if you charge everything off, getting the first account set up to begin reestablishment can be much more difficult....some banks won't gp near you if the word "bankrupcy" appears on your file at all.....i've seen people that have cosigned for a relative who filed, and their bureau shows "account included in ch13 bankrupcy" for the account that they signed on....and that gives me problems getting them approved...I have to find out what the story is, who filed, etc....
dep, what kind of finance company do you manage?