Today I got notified that my score increased a few points back up to a 516. One Credit Card account went from a several thousand dollar balance to 0. Other than that nothing changed. Yea for 0 balances 
Posts Tagged ‘consultation’
Slight credit score rebound
Wednesday, November 5th, 2008Debt collector calls are annoying
Wednesday, October 1st, 2008The collection calls from the credit card companies are unbearable! We will be filing our bankruptcy case in the next few days. I have been avaoiding the calls, but they are at the point I needed to answer some of them.
We were getting over 125 calls a day! I suspect the reason is because I was avoiding them, and the automatic system would dial in some cases every 15 minutes. I talked to a couple but they say until we actually file our case their system may keep calling. Bank of America, and American Express seem to be the most frequent.
I just checked our credit report and scores again, but nothing has yet shown up late. We are about 60 days late now on most credit cards. If you are interested in seeing your credit scores, credit reports or signing up for the scorewatch product like I use check out these links:
Equifax Credit Watch Gold 3-in-1 (monitors all three credit reports)
Equifax Score Watch
Equifax Score Power
Bill Collection phone calls
Monday, September 15th, 2008Well, I had had posted before we have great credit. My wife and I have NEVER had a late payment in 24 years until recently when we stopped paying due to the upcoming bankruptcy. We are now falling 45 days past due on some credit cards as well as our mortgage.
The last few days the collection calls have started coming in. It appears they are auto-dialed so if you don’t answer the phone the calls come about once an hour. Most of them have caller ID hidden, which is a dead give-away.
Since we have not actually filed our bankruptcy case yet, I’m going to try and avoid them. Once we file, an “automatic stay” is put in place and they can not call you after they have been notified. You can also refer them to your lawyer to have them deal with it as well.
Nothing has shown up on our credit scores or credit reports yet as far as late payments.
First Bankruptcy lawyer consultation
Monday, August 4th, 2008Well, today we had our first consultation. I am trying to determine whether I have to do a business bankruptcy, or personal bankruptcy. Virtually all our debt is due to the business. It is unclear whether the business can keep operation or will need to close.
After the consultation, we determined we didn’t like the feel of this particular lawer, or firm. It appeared to be a wham-bam thank you ma’am type approach. He stated we would need to do a chapter 13 bankruptcy. (I’ll cover the different types in a future post) A chapter 13 is a repayment plan through the bankruptcy court. How much is repaid and how long of a period of time is determined by the court based on your disposable income.
He said basically the business would just have to close down and be liquidated. So now we wait for the other appointment.