Posts Tagged ‘phone consultation’

Lets see what happens to credit scores now

Friday, October 10th, 2008

Well, we just left the lawyers office for our bankruptcy filing. So it’s time to watch our credit scores decline from now on! Our credit scores will plumet some say as much as 350 points, the chapter 7 bankruptcy stays on your credit report for 10 years. So much for great credit. (BTW a chapter 13 only stays on for 7 years)

I pulled our credit reports today, as well as got our updated credit scores. From my previous credit posts you know I use Equifax. I really like their monitoring. You get an e-mail anytime a score changes above or below a target you can set, or anytime your balances increase, etc. I highly suggest if you are intersted in your credit history, are considering a bankruptcy, or want to know your scores which will relate to your ability to get loans you invest in this information.

Equifax Credit Watch Gold 3-in-1
Equifax Score Watch
Equifax Score Power

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Bankruptcy lawer consultation by phone

Wednesday, August 13th, 2008

Today was another consultation, but by phone this time. The attorney took most of the same info the first one did. This lawyer seemed a little more personable than our first consultation. I suggested we would really like to do a chapter 7 instead of a chapter 13 if possible. In reality we will have no income left over if we have to close the business. He stated we would have to do the “means test” I spoke of previously.

He stated It would take a couple weeks to file papers once all the documentation was received. We also discussed debt reduction programs as you are now hearing about all the time. I seems there are TV and radio ads running all the time.

It is looking more inevitable as time passes. Store sales are not recovering after the slow month last month, and I am not able to pay some other bills now coming due. Rent is several months behind now. Oh-boy.

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