Has anyone done this?

Hi everyone...

I think I am taking the road less traveled here by attempting this but hey, it might be worth a shot!

Has anyone here been able to convince a creditor whom you included in a BK to reopen the acct with both the credit line and balance equal to what was discharged in return for deletion or upgrade of reporting status?

I ask this because I had several good cards that were never late from 1992 thru 1997 (when I filed) that I'd like to get converted to good accounts again. I see it as a win-win for all involved because creditor gets a windfall they didn't expect and debtor get a bad tradeline converted to a VERY GOOD tradeline and a new credit card account.

Going this route basically makes the card a secured account on which you have to pay down prior to using it BUT in some cases, this may be worth it.

The creditor is 100% protected because the amount was already written off when the BK was filed. Has anyone done this? Does anyone have any opinions on this?

Thanks,

Tom

 

Cable.....

I know that it's a reaffirmation. However, I thought you could only do it at the time of filing. Do creditors normally do it this long after it's been discharged?

Tom

 

Thanks again cable....

I know the BK will sit there. However, what I am shooting for is a higher FICO. If I can get my FICO over 550, I can get a sub-prime mortgage that I need by next summer's end (I'm about 8 points away on two of my reports).

Also, the BK never made it onto one of my reports so that's a bonus.

Tom

 

Does anyone know if this would help my credit score substantially due to increase in average account age OR would it hurt it because of the increase in balance to limit ratio?

Tom