I have waited 5 years..Here it is

I talked with my attorney today. My Chapter 13 is completed and my discharge papers are on the way. I finished the plan, and am square. AND I am alive and completely healthy!

A few quick points:

I was told in late 1995 by my Dr., "Dogman, go spend your money now because with AIDS, you don't have much time left." I didn't care what balances were - I had life insurance to cover every dollar, so companies like Salvatore Ferragamo, Giorgio Armani, and Hickey-Freeman benefitted.
One day, in a mall - I stopped at 5 stores and applied for immediate credit lines. Of course I was approved - I told them that if I were in the Mall without my card, I wanted to walk in and sign my name and go! Nordstroms loved it!

ANOTHER CHANCE - A DRUG COMBINATION!

Then, thank you GOD, the AIDS cocktail came out in Mar, 1996. I have lived with NO side effects since starting it. The issue is that I take about 20 pills daily - so I wish they could put everything in one pill LOL! I am fortunate my company insurance buys my drugs for a $5 co-payment!

Went Chap 13 in Oct 1996 - $130K credit card debt,
$30K car loan. I only did it because no debt company would touch that amount of debt, and because I wasn't going to "walk" from all debts.
I wore my ROLEX to court. The judge knew I had AIDS, and he immediately agreed to my attorney's
request - pay off the new car in full (secured) and pay back a portion of the unsecured debt. My monthly payments went from over $5K per month
B4 the Chap 13, to $700 per month.
(FYI - that was a huge reduction - but remember, I did not know - AND STILL DO NOT KNOW - if the AIDS drugs will fail, or medical expenses will snag my income. The judge knew that.)

I paid for 5 years - a money order every month.
My attorney told me that only about 20% of the people who go Chap 13 complete. Most declare Chap 7 later if they can't make payments. He congratulated me!

GO BACK A MINUTE....

I was the first guy to snap up a Gold Mastercard on the web with Mellon Bank. I snapped, 3 days later they sent a $7500 card. I accepted ALL preapprovals, and all were Gold. Platinum was not out yet LOL! If I needed cash - to pay mounting balances, I would cash advance say $5K - the day the card arrived. Never ANY QUESTION! I was going for a $1M credit line in cards! My friends and I laughed - I got 3 or 4 Gold Cards a week sometimes LOL!

When I was up to $130K, all cards were at their max. My credit rating was superb - but - no one would loan me $150K to refinance everything.

NOW

ALL negatives associated with the Chap 13 fall off 11/2003. I have 32 positives, with prime AMEX and Nextcard type cards now reporting perfectly. Immediately, the reports will now show Discharged, and the fake past due will go away.

WOULD I DO IT AGAIN?

Absolutely - but look at my circumstances. It wasn't financial mismanagement - I was going to die in a few months. I suddenly LIVED - again Thank you GOD - but then I did not have the debt anywhere near covered.

I had never been late on anything - obviously - or
I wouldn't have obtained $130K! I told my attorney that we needed to file immediately, because in 30 days, 40 (yes 40) credit cards would not be paid and I would have no way to pay.

We filed in 3 weeks - Oct, 1996. We hit every creditor by surprise! I never received one harrassment call from any creditor, EVER! You can imagine how surprised the card companies must have been - when they got a BK notice on ME!

One bank "transferred" my Chap 13 acct to another division and is reporting past due. My attorney said -NOPE - nice try, but you jusdt send the original debt as included and it'll be gone.

My attorney knows I have rebuilt credit while in Chap 13. In my state, under specific conditions, it is completely legal. Cap One and Providian know this!

Then he said - hooray - that if I was declined or wanted new credit, to call my trustee's office, and have them send the company (AMEX GOLD for EX) a paper that the BK was completed and THE PAPERS WERE IN PROGRESS.

Board, my tri average report is about 640. This is my score with the Chap 13 still showing as not finished.
The attorney told me that HE would personally send all credit bureaus the discharge papers- as well as the standard court procedure.

HOW MUCH WILL IT IMPROVE?

How much do you think my reports will improve - with the past due bank off and the Chap 13 closed / and over 5 years have passed? Think I'll get to 700?

Anyone - that is the story. My life was horribly changed FOREVER when I found out in 1986 that I had AIDS. I got it through drugs and multiple sex partners. I was spared and my belief in GOD was everything. When he asks me to do what he wants I am ready. Maybe I am doing what he wants now - by telling my story.

I know there are others out there whose lives are awful restling with life issues, AND DEBT!
The Chap 13 was fine, I never missed a payment, and not one thing in my life changed - including lifestyle. Providian sent me the $1000 "Platinum Classic" Visa 30 days after I filed. LOL!

My strategy of rebuilding, while letting the 7 yrs finish on the Chap 13 is working. Also, I am happy that this will all be off my records in late 2003 - instead of waiting until 2006 - if I had done Chap 7.

Now - how much do you think the credit rating will jump?

I will have 85% available resources and nothing bad, and the Chap 13 resolved. I can hardly wait to discuss exactly this with AMEX, because, at this stage, I want AMEX Gold Charge and Blue. LOL!

I will keep the Board posted how this affects the scores. My attorney said it would probably show on the reports in 45-60 days, and again, if I wanted credit, call the trustee and get the "completion" document.

Thanks to all of you for your input, friendship, and help and true caring. Also, it is fun with occasional sarcasm thrown in!

PBM - special personal thanks to you for this board.
ALL - I can't even TALK about any of our conversations with anyone I know!

This Board helped me get here and meet you all too!

arfff- Dogman
scratching at continuing a brand new life!

 

Mom - you particularly are an inspiration - and NO TISSUE necessary....I just want other people to know they do not need to suffer if they are on the edge.

Hmmmmm......
NOW I'm gonna be aggressive.....and you know I will! Probably just have trustee snap me a copy of completion - for easy faxxing to .... LOL!@

arf - dogman

 

here's the high four paw sign to you - dogman

 

Breeze - will do - gotta keep GEICO inder control LOL! dogman

 

PsychDoc - LKH

Psych/LKH - you 2 dogs are 2 fun to run with 2! arfff!
LKH - a quadruple arfff - aroooo!

LOL! dogman

 

Re: PsychDoc - LKH

check with your attorney - but all of those that were in the original bk now must update status.

my attorney said - as exactly in your case - someone reran it to a subsidiary and is trying to say past due - attorney says nope, nope, nooooo!
and he would send the idiots the court release.
It is finished - complete - done - screw-em they need to delete it.

Nice Guy - it takes a few months. I finsihed mine in March this yr. Later - dogman

 

Jeff - AMEX helped the most....

you've seen my earlier posts. They gave me the Green Card under the credit report conditions I outlined earlier. I told a human the story and they helped me.


Thanks - Dogman

 

Re: dogman

Hey Sam - the best thing is - regardless - in another
23 months for me - if I did nothing at all on cleanup - the bad all goes away.

chargeoff, repo, whatever - it says this stays on your record until 200x.

I inventoried what it will look like as of 11.03 - I will have at least 32 positives, NO NEGATIVES, it falls off due to bkrtcy laws. great feeling!

I want a CHASE Card but I know they don't look at anyone with a BK. I think I'll apply Nov 2003!
My first new year's resolution LOL!

thanks dog