Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
Re: Bankruptcy friendly credit cards
Congrats on the cards. What was reasoning to convert to a Ch 7? You know that will stay on your reports for 10 years. What did your attorney say about all these new cards you are getting before the Ch 7 discharge? I am not sure if you have to include all creditors in a converted Ch 7 but I know you do if you start off with a Ch 7. If you do not know, find out to make sure you will not lose all of your newly obtained cards. I know the creditors aren't aware of this conversion. You are getting the cards now which is good while you are still under a Chapter 13 because once it converts to a 7, it will be nearly impossible to get a prime credit card for a long time as AMEX, Citi, and Chase are not BK friendly and especially so if you burned them in your BK. Just wondering if you knew after 5 more years of the 13, you would have had it completely removed from your credit report if you paid off the plan successfully. Now with the conversion to a 7, it will stay on your report for another additional 5 years. A 13 looks more favorable to creditors than a 7 because you are paying your debts. Just not sure why you are converting.