In response to those on this fool board(Motley, that is), who complain about so much credit card debt(assuming it's unsecured), I can only say pay it off(or maintain the monthly payments) at all costs without having to file the big BK-7(or BK-13 for that matter). Once the Chapter 7(or 13) is over & done with, credit is very hard to come by. I never saw those solicitations in my mailbox after I had my BK-7 discharged.There are many card issuers who are more than willing to rip you off by offering you a secured credit card with their establishment. As a victim of Chapter 7, I found many solicitations in my mailbox for secured credit. A good idea, but abused by many institutions.And the people abused are u & me.I found that the best organization with which to begin the journey of credit repair is First Consumers National Bank. Not actually a bank, but a card issuer, much like Capital One and Providian Bancorp.Four years ago, I obtained a card for a mere $25 account fee, and a minimum deposit of $300. Capital One & Providian will also get you started for a reasonable fee. The security deposit is usually $300. (I recommend these 2 issuers after FCNB) The annual fees vary, but seldom above $50. There are other card issuers who will charge ridiculous fees in order to get started. Stay away from these organizations, especially the ones who offer an 'unsecured card' where it can cost you up to $300 to initiate it. If you are required to pay more then $75-$100 to initiate a secured card, throw away the mailing. After making on time payments for 3 years, my FCNB card is now unsecured and my security deposit, to which I have added over the years, was returned to me in the form of a check. My limit has since been increased by thousands, without any added fees as Providian will do. They will assess a $75 'processing fee' to increase the limit by $1000 unsecured. While I objected to this type of thievery, I went with this twice until my FCNB card was released unsecured. I now keep Providian's card as an emergency card, charging only what I can pay off in a month(it's that 23.99% interest rate that played into my decision) and rejecting any further limit increases that will cost me $75. They still refuse to reduce the interest rate even though I've been on time for the last 3 years. Start with www.fcnb.com if you are attempting to rebuild credit. Keep up the on-time payments for about 3 years and you'll be rewarded. Good luck fools....
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