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2 CH 7's?


lolah
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I work for a mortgage company (prime loans), and that is an absolute deal squasher. Not only would it show you filed twice, but the first one isn't even 7 years old yet. Even if you don't file, 2 or 3 delinqs after the 'recent' BK look very bad as it shows an inablity or unwillingness to live up to financial responsibilities, so 15 would be off the chain. I don't know how subprime mortgage or credit card lenders will look at it, though.

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Correct. Waiting period between DISCHARGED Ch 7's is now 8 years.

Your first one is only 5 years old and you're back up to FIFTEEN delinquent accounts ?? :shock: Unless you had some extunating circumstances, it sounds to me like you need to learn how to live on a budget and within your means, and how NOT to use credit cards. Sorry.. but 1 bk should have been a lesson learned.

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Thanks for your replies. Actually none of it is credit cards. The first BK shouldn't have even been filed, IMO. If I would have thought about it, I wouldn't have done it. I was 19 and only $1,000 in debt.

I didn't ask IF it would look bad. Yes, I know the answer to that one. I asked how it would look compared to 15 delinquent accounts.

Not only that, but I came here for help. I know I've not been the most responsible. Isn't that why we are ALL here?!?

Actually, yes I have had hard circumstances that I won't go into here. I am not looking for sympathy.

I have decided to proceed with DV instead of take the "easy way out". Thanks for your help.

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Actually, you can recover and rebuild faster with a bankruptcy than you can fighting with old charge-offs for years. Bankruptcy wipes the slate clean, more or less. Yes, it hits your credit hard for a while,but it's sting lessens as it ages and as you rebuild a good credit history.

Yeah, filing BK over $1000 probably wasn't the best idea... but.. we all live and learn. If you're really behind the 8 ball, a Ch 13 would still afford you some relief and you likely wouldn't have to pay back at 100% - unless it's secured debt and student loans.

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Actually, you can recover and rebuild faster with a bankruptcy than you can fighting with old charge-offs for years. Bankruptcy wipes the slate clean, more or less. Yes, it hits your credit hard for a while,but it's sting lessens as it ages and as you rebuild a good credit history.

Yeah, filing BK over $1000 probably wasn't the best idea... but.. we all live and learn. If you're really behind the 8 ball, a Ch 13 would still afford you some relief and you likely wouldn't have to pay back at 100% - unless it's secured debt and student loans.

If I could only go back and change my life...but then I probably wouldn't have learned anything. How does a CH 13 work?

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