Credit Card companies.... grrrr

[CornField]

We recently filed Chapter 7 bankruptcy due to drowning in medical bill debt. Our bankruptcy is still in the beginning stages and no where near completion. Why am I receiving an average of two credit card offers every day when I go to the mailbox? Prior to filing Chapter 7 I was no longer receiving credit card offers. Why now?

[ET Awful]

1. Because, they think you will be relatively debt free after the proceedings

are complete, and they can start preying on you. It's standard procedure.

[TahitiNut]

2. And they know you can't file again for several years.

:shrug:

[notadmblnd]

3. and don't take them up on it.

and don't feel bad about filing either. The corporate greed monsters do it all the time. Look at Donald Trump, I'm sure he's filed at least once.

[elehhhhna]

4. Couple times on the Donald, nota...

[notadmblnd]

7. Thanks, that's what I thought

but wasn't sure enough two say "twice" in my post.

[OneBlueSky]

5. a few years back, I helped a friend file for bankruptcy . . .

using one of those do-it-yourself kits . . . everything went smoothly, the bankruptcy was granted, and as we were leaving the hearing, a representative from Sears approached her offering to increase her credit line if she would re-affirm her Sears debt! . . . she politely declined . . .

[I_Make_Mistakes]

6. They suck

I was a consultant for one for 2 1/2 months. In a meeting, I heard them discussing bringing someone to the verge of bankruptcy with out crossing the line. It was so digesting, I wanted to go off on them, but I was a consultant.

I gave my notice and was offered $180,000.00 to stay in a similar capacity and also offered an AVP position. Let me tell you, it was hard, I mean really, hard not to take the money and run.

I did turn them down, but, it was hard, I mean hard work, having a conscience and all.

[G_j]

9. good for you!

:toast:

[Stephanie]

10. How do they do that, bring someone to verge of bankruptcy?

They deliberately do that? Please explain. That's some scary sht.

[elehhhhna]

8. Sears got busted for that practice, bigtime.

[jojo54]

12. Good for them!

Them and their 21% interest.

[jojo54]

11. OMG!!!!

That's like in years past (I don't think they can do it now) when the lawyers were flocking around the airports after a crash, like vultures!

[CornField]

15. Our attorney specifically asked about Sears

It seems that Sears will show up on the court date and make major demands on those filing bankruptcy. If they cannot change the bankruptcy outcome based on those demands, they petition the court for repossession of items (typically kitchen appliances like stoves).

The demands they make for additional paperwork and so forth are not illegal, but seldom used after the bankruptcy has been reviewed by the court-appointed trustee. The demands often cost those filing bankruptcy additional money in attorney fees because of the additional work required.

Fortunately, Sears is not one of our creditors.

[elehhhhna]

16. Thats' exactly why these tighter regs in Bankruptcy law aren't needed:

Creditors always had the right to contest your filing. ALWAYS. Smaller companies DO fight cliams and get their stuff back (furs, furniture, etc.)

If you bust out your credit cards gambling in Aruba, Master Card has the right to point this out to the courts. They just don't bother.

[ellie]

17. Yes, that happened to me.

15 years ago, I lost my job and was unable to find a new one and I was forced to file and Sears came to the hearing demanding the air conditioner I bought from them back. They actually came and picked it up from my boyfriend's house.

[kentuck]

13. There should be no legal recourse for CC companies once...

the principal has been paid off.

[recoveringrepublican]

14. When we paid ours off, we were getting at least 2 every day also

if not more. We didn't close our accounts and the companies decided to up our credit limit. Not sure why, they can kiss my ass and keep wasting their money, no way in hell am I'm going back to that hell again.

Sorry to hear you had to file. Hope your fresh start eases your life.