Problems with Bankrcuptcy

[kennych]

What is the name of your state? TX
After you file bk, what kind of problem are we going to encoutner?
Higher car insurance rates, home insurance,
will I still beable to open a checking account, and have a debt card?
Will our employeer's find out?

 

[djohnson]

Insurance is a big problem after filing bankruptcy. Most do credit checks now and can turn you down or not renew policies. It is hard to find and you will probably have to pay more. Employers finding out may be dependant on what you file a 7 or an 11, and what your job is. Some banks do credit checks now before opening accounts so you may have to shop around to find a bank that will open an account or offer different accounts that may limit the options you have on it.

 

[joshuaadvant]

I haven't had any problems in terms of car or home insurance. Also, I obtained a new checking account prior to filing because one of my creditors was the bank I previously had a checking account with. I got the debit card prior to filing.

 

[djohnson]

Getting the bank account prior to filing is a good idea. Just make sure you aren't filing against that bank. I don't know how long ago you filed or if it has had time to come up for renewal or not but it is a large problem. Especially if you have had any claims also. You may not be renewed or can even find insurance. If you do it will it be more costly. There are few companies left that don't do credit checks but the coverage they offer tends to not be as good. It is something to keep in mind and gather information about.

 

[joshuaadvant]

About a year ago. Since have had several new policies written, autos, renter's and was recently given a good quote on home owner's. I was surprised because I had a claim just over three years ago on a previous house with water damage, but she said I actually got a discount because there weren't any claims within the last three years. Amazing but true.

 

[kdowd771]

Not trying to jump your thread here but can anyone tell me some of the HIDDEN problems one will encounter after filing chpt 7 or 13. I had no idea getting auto insurance would be a problem. I am now wondering if this was the right thing to do...

 

[djohnson]

Probably starting a new thread will you get more anwers as people will se the question where they may not read all the way down this one to get to it.

 

[Ladynred]

If you're already a good customer with your existing car insurance company, you may be ok, but it certainly wouldn't hurt to find out what their policies are on bankrupt customers. I have the same worry, but I've had my car insurance with the same company for almost 20 years and my history has always been good. That has to count for SOMETHING.