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     | Thursday, March 30, 2000 - 04:07 pm  I declared BK chptr 7 last year and the BK was successfully discharged. I got a fresh start and owe no one anything. Today I was told by a Citibank rep in the credit department, which was one of my accounts included in bankruptcy, that chances were good I could get a credit card with them again if I settled on a payoff amount with their company. I could pay 40 percent of what was owed, and once the negatives dropped off my credit report, I had a good chance to receive their card again. No guarantees, but a good chance for a gold card and $5000 limit. I am aware, of course, that paying Citibank something when my debt was discharged is not necessary, and plus Citibank wrote the debt off on their taxes. My motivation in trying to reestablish credit with Citibank. It is a well respected card that I enjoyed having more than any other card. It was my first credit card ever, and the only way I know to get it again would be to accept the payoff amount this year, which I could afford. I must reemphasize that I could afford to pay them in my current situation. Would anyone care to comment? Advice is welcome. I am taking a chance should I pay Citibank, and some comparisons would be nice. Jackie
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| | Friday, March 31, 2000 - 05:51 am For Citibank to request that you "pay" a debt that was discharged in bankruptcy may be an unlawful way to reaffirm the debt. I would play the game and request they put it in writing. Under the Bankruptcy Reform Act the agreement must contain a clause that specifically states that the reaffirmation agreements are not required because the debtor does not have to reaffirm the debt. If it does not, I would file a complaint to the FTC. Sears was sued big time for this. You would be better off taking your money and apply for a secured credit card to re-establish your credit. Try American Express Optima site http://home1.americanexpress.com/apply/credit_splash.asp
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| | Friday, March 31, 2000 - 07:03 am NO WAY! I would not do it. Granted, you are free to do what you want, but why pay a bill that you are not responsible for anymore. These credit cards charge their high intereset rates, and rob you because they are taking the risk. When the risk fails, they decide they will try to collect anyway. Forget it. And, by them telling you that once the negatives dropped off you credit report, you have a good chance to receive their card again. So what? That happens to be the case anyway. Maybe not with Citibank, because they will still have a record of it, but to pay them large sums of money just to have the privelige of their card is absurd in my opinion. -Dan
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| | Friday, March 31, 2000 - 10:07 am American Express is a good company, but their reps told me the Optima Secured Card is reported to the credit bureaus as secured. That's not much help.
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| | Friday, March 31, 2000 - 11:31 am AMEX won't let you have one of their cards if your BK is less then 9 years old.
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| | Friday, March 31, 2000 - 01:12 pm I spoke with a representative from Fair Isaac who assured me that reports of a card being secured did not affect a person's FICO score. I wouldn't be overly concerned about it.
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