I've been advised that this is the best course to take. Since I'll be tied up, credit wise, for 5 years, would it be a good idea to obtain another cc for emergencies before the petition is filed? My current cards are maxed and will be included in the filing, and I have received another one of those 'pre-approvals'. The limit will probably be low, but I'd only use if needed to rent a car, etc. I'm afraid I wouldn't qualify for any credit during the repayment period....Any thoughts?
It's worth a shot, but be advised that: 1) The creditor is about 70% likely to cancel the card when they discover the BK (and they certainly will at some point in the 5 years); and 2) Some Trustees are very hard on obtaining and using credit durung a C13; you may risk dismissal by using it at all. You should ask your Attorney and maybe even the Trustee. For safety, I'd recommend getting a VISA debit card prior to filing. Open a checking account somewhere that offers one. That's what I'm using; it works anywhere a CC works, you just have to make sure you have the cash in the account.
This to thank Reddevil for the suggestion... I do have a debit card, just didn't know you could use it to rent a car...!! It does come in handy and I had it for years...so no more credit cards...! Thanks again!
