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hcovarru

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  1. So the wife and I made the decision to file our Chapter 13 case but we're worried about our current checking account with NFCU. Although we are not including anything in the BK associated with NFCU we're worried they may freeze and/or close the account. I currently have my payroll check direct deposited into the account each month, and we're in Chexsystems so we can't open another account in the meantime. Does NFCU routinely freeze or close checking accounts upon Chapter 13 filing?? Thanks...
  2. Hello, I understand that filing Chapter 7 is a strategy for clearing a chexsystems record, but how does this process work for those of us filing Chapter 13 bankruptcy?? Thanks...
  3. Will do! I don't have a recurring payment schedule with this specific creditor. Rather, I've used this respective card twice on the company website to make my monthly payments without opting to save my card info. My credit union (NFCU) offers instant debit card option so I'll be able to get a new card with new number. I'll make sure to ask about the forwarding of new number to existing payees.
  4. There is no pay agreement in place from what I can see. I don't have that particular card on file with my finance company, but o fear that they'll retroactively go back and use the data to attempt future charges. Foreign = more expensive parts & labor.
  5. Hello, Sorry for the dumb question here, I realize this may be better suited for the bankruptcy forum. Long story short, I've decided to file chapter 13 BK within the next few months but one of my cars is dead! Blown transmission, engine is not too far behind, and a host of other mechanical issues. Owe about $3800 but it's a foreign car with over 170,000 miles so I'm done with this headache. I notified my finance company that I am going to surrender the car and to just come get it please. I used my bank debit card to make the last two payments online WITHOUT saving it for future use. Is there a chance they can still utilize that card? I'm considering walking into my bank tomorrow and reporting my card lost so that I can receive a new one with a different number of course. Any advice is definitely appreciated! Thanks...
  6. Hi Y'all, I have a chapter 7 BK discharged in August 2013 (20 months ago) and looking to buy a brand new home in Round Rock, TX. Went to look at homes yesterday and new sales agent stated that the area is approved for USDA loans. I was going to wait until this August for FHA loan application but agent also indicated that he's had a few clients/customers approved for USDA loans since they were approved for a waiver due to 640+ FICO score. Is this true? I thought USDA was strict on the 3-year/36 month BK rule for chapter 7. I currently have a 688 FICO mid-score and my DTI stands at 25%. We're looking to buy a home in the $290,000 - $310,000 range. My income is at $78,000 but currently interviewing for two positions that pay in the mid to high $80,000 range. Thanks!
  7. Brian, Ok, thanks for the update. The reason my wife and filed for BK back in 2013 was due to a job loss I suffered back in 2006 that I was not able to financially recover from until we filed BK. Our trustee asked us this question and this was my response as well. With this being said, any chance I can look into the possibility of applying for an FHA via the Back-to-Work program before June 15th? Thanks...
  8. Hi Brian, I'm sort of in a bind as well with respect to the new FHA revised policy pertaining to student loans. I currently owe roughly $145,000 in federal loans due to my masters/PhD degree coursework. I'm still about about 1 year and a half away from earning my PhD so my loans are in deferment status as we speak. My wife and I filed chapter 7 bankruptcy two years ago and were discharged on August 13, 2013, so our 2-year post-BK anniversary is about 4 months from now. Given that the new FHA policy change takes effect on June 15th of this year, is it possible to say apply for an FHA loan for a brand new home that won't be completed until after August 13th?? We're looking to head back to Austin, TX and the homes we're currently considering will not be completed for about 5-7 months after contract is signed. My FICO scores are TU: 653, EXP: 683, and EQ: 671, and my DTI is currently at 29%. I'm planning to pay-off the majority of my credit cards within the next 45 days and my total credit card debt is about $3,500. We also want to take advantage of the Texas Down Payment Assistance Program ("My First Texas Home") but not sure if the new home builders can provide that option for us. Maybe we'll have to stick with one of the participating lenders instead. Thanks!
  9. Hello Guys, So my chapter 7 bankruptcy was discharged almost 2 years ago (August 2013) and I discovered last month that Experian was still reporting three collections items that were definitely included with my BK. I submitted a dispute last month via certified mail return receipt and just received my updated Experian report this afternoon. Rather than removing them they left the three accounts intact but with a zero balance and "Account discharged in bankruptcy" notation. Unless I'm wrong, aren't these three items supposed to be completely removed from the "Collections" section or deleted altogether?? I am inclined to submit another dispute via mail demanding they be removed since they are technically still listed as collection items. I'm trying to buy a house this August via FHA when my 2-year discharge anniversary comes around. Any help/advice would be very much appreciated!
  10. This is all very true. My roommate was reported to Chexsystems (and I assume EWS, as well), and one day he went to Chase and they said his account was being closed due to his negative reporting. If you really have no local banks or credit unions in your area, you may have to go with an institution outside of your city. All very important suggestions, thanks! I've read on here that US Bank seems to be very forgiving, plus they do not utilize EWS. When I spoke to the in-branch manager earlier today he told me that Chexsystems is only a concern if you: A) owe them money (which I do but am going to pay-off despite BK discharge; and have any type of fraud listing in Chex (which I don't). All of the credit unions within 50 miles of me (Central CA Coast) use Chex and/or EWS, so can't go that route.
  11. I just spoke with the in-branch manager of the US Bank here in town and he said I can pay the $426 I owed to them and he can open a new account. The only risk is that the back office may close it down due to the 7-year old charge-off. Even though I had it discharged in BK and removed from Chex, the loss prevention/risk folks may not like it despite paying it back now. He recommends I pay it off and then waiting about a month before I set-up direct deposit. But does recommend I make small deposits and debit card swipes in the meantime. Don't know if I should risk it but then again so is leaving my Wells and BofA accounts open as well while I wait for the EWS shoe to drop!
  12. My EWS is clean as of right now, but obviously worried that the impending EWS indicator from Chase will start a domino effect with my current Wells & BofA accounts. I heard from a friend that both EWS & Chex will send a file alert for each bank that is listed in your inquiries section. As for local banks and/or credit unions, one of the three (Golden 1) has me listed on Chex from a while back despite paying the negative balance off and requesting to be removed. The other two are heavy Chex users and have already told me "no," thus I opened accounts with Wells & BofA.
  13. I'm hoping MCA and others can chime in on this topic! So I had a Chase account that was overdrawn and I thought I had enough time to rectify the negative balance. Long story short, Chase has already closed the account as of three weeks ago. I was able to immediately go into Wells Fargo & BofA and open checking accounts despite having a 2-year old Chex mark from Golden 1 Credit Union. Do you guys think Wells & BofA will shut down my accounts once Chase reports to Chex & most likely EWS?? I wanted to open an account with U.S. Bank but I had an old checking account with them that had a negative balance back in '07. I was able to clear the balance when I filed BK, but when I stopped into an in-store branch last month they said my old $405 balance still needed to be paid off despite the BK discharging the debt. One bank employee said that I can open a new account once the $405 balance is paid off, while another said it's up to the branch manager to give the approval to open a new account. I would prefer to go back to U.S. Bank since they don't check EWS, but yet the old balance may prevent me from doing so even if I pay it off. So I'm confused and don't know how to proceed. I'm anticipating a $6,400 student loan deposit within the next three weeks and would hate the have Wells freeze my account and thus prevent me from accessing my funds. Help?? Thanks!
  14. Are you buying a GEHAN home in Austin? My wife and I are buying a GEHAN in Round Rock (we close on June 26th) and the picture in your post looks just like the two-story house across the street from us! My wife and I close on June 26th and we're buying a brand new 2,400 sq. ft. house in Round Rock, TX (suburb of Austin). Our home has ALL THE UPGRADES and we picked it up for $196,000. Here's some pics: http://www.obeo.com/tourimages/18/185226/185226_500.jpg http://www.obeo.com/tourimages/18/185226/LivingRoom_500.jpg http://www.obeo.com/tourimages/18/185226/LivingRoom3_500.jpg
  15. Are you buying a GEHAN home in Austin? My wife and I are buying a GEHAN in Round Rock (we close on June 26th) and the picture in your post looks just like the two-story house across the street from us!

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