Comments on: I received credit card that I did’nt request after discharge from chapter 7 bankruptcy ?

By: Lesley

Lesley — Sun, 27 Sep 2009 05:46:59 +0000

Because they know it will be 8 years before you qualify for another chapter 7. You will be inundated with credit offers if you haven't been already.
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By: jender1352

jender1352 — Sun, 27 Sep 2009 05:06:59 +0000

They are giving you a chance with a small amount of money.
If you don’t want it call them and tell them you don’t want it.
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By: mccray_51

mccray_51 — Sun, 27 Sep 2009 04:43:59 +0000

1. The creditor may or may not know you just discharged a BK. It is the responsibility of all borrowers to advise all 3 bureaus of your discharge and what debts were included in the BK.

Furthermore, I would advise that you send a copy of your discharge, and amendments reflecting debts included in the BK to the bureaus so your credit history reflects that any collections, charge offs or accounts are in bankruptcy. If you don’t any collections or charge offs that have outstanding balances will reflect negatively on your fico score.

2. Regardless of what others may tell you it is in your best interest to re-establish your credit as soon as possible. But, be aware that you must ensure not to incur more than you can handle. You MUST not have any lates shown on your credit after a BK but, you must have credit to show a new payment history. A lot of people think after a filing a BK "well I’ll never do that again" no you shouldn’t but, you do need to re-establish a new credit payment history. Believe me it can hurt you just as bad as the BK if you don’t.
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Been there done that

By: Tracker

Tracker — Sun, 27 Sep 2009 04:09:59 +0000

Listen to the first poster. They did this to my parents too, right after they filed bankruptcy they started sending them credit offers. They accepted them and got themselves right back into debt. Don’t do it! Cut it up! It’ll have terrible interest on it and may even include a yearly fee…some of those subprime credit cards can charge up to $150 per year just to have them. Save your money, don’t get into debt you can’t handle!

You know, my parents were stupid in the first instance to get themselves into that mess of debt, but who was stupid in the second instance, them or the credit card companies who sent them more credit right after they filed bankruptcy?!
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By: SPIFIMAN1

SPIFIMAN1 — Sun, 27 Sep 2009 03:22:59 +0000

A lot of companies do this because like the first poster said you can’t file again (it’s 8-years not 10) plus you have no debt and need to re-establish your credit.

They also charge high interest rates and fees if you accept.

What I did was use 2 of these cards for every day things, never exceeded 30% of my credeit limit in any given month and paid them off in full before the due date.

This way I raised my credit score over 150-points in 24-months and paid no interest.
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Finance Manager for ovr 7-years.

By: Toffy

Toffy — Sun, 27 Sep 2009 02:45:59 +0000

Because essentially you are free of debt. And a good risk for a credit card. If you use it…..be very careful….or cut it up and send it back with a decline to use it note.
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By: Mrs. T

Mrs. T — Sun, 27 Sep 2009 02:29:59 +0000

b/c they want u to go into debt again! they dont care. did u not apply for this card?, b/c if u didnt u need to call this company and let them know that. or you can keep the card in case of an er and use it as a line of credit to restore your credit score after bankruptcy.
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By: Zodiack

Zodiack — Sun, 27 Sep 2009 02:07:59 +0000

Because they know you cant file again for 10 yrs. And they are probably charging high interest. Cut it up. You will be getting more also.....trust me i know.
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