I’ve read every forum I could find but haven’t found a situation quite like mine. I’m currently 8 months into a 100 % repayment Chapter 13 bankruptcy, and I’ve never had a delinquent account.
Essentially a few life factors (including a loss of household income due to divorce and keeping the home on a single income because in the market was worth less than I could sell it for) within the last few years and being laid off in December… lead me to filing for bankruptcy in February while I continued to look for work. Before bankruptcy I had never had a missed or late payment let alone a delinquent account. I had high debt utilization the past few years supporting a household on a single income but I made enough that I could make payments. When I was laid off, instead of letting several accounts become delinquent I established a 100% repayment plan that would allow me to start payment at a lower amount and increase as I started working again. I resumed employment in May this year and I’ve made every single payment towards my bankruptcy plus several hundreds of dollars over. I am on track to pay my bankruptcy off in 3-4 years instead of 5.
I’m worried that this recent of bankruptcy will effect my suitability for a high risk public trust that I am completing an sf85p for now. Otherwise I am a clean candidate but hoping someone has seen/heard/dealt with a bankruptcy and suitability before.
Is the amount in my bankruptcy considered “bad debt”?