I know I'm probably jumping the gun here a bit, I just filed my papers Oct. 31 and will be in court on Dec. 4 to complete the transaction. I have heard the process will be completed about 30 days from our court date? That will put me at the beginning of January or mid. I am planning at that time to open a secured credit card that report to all 3 cra's. I have a current home mortgage and a current vehicle loan. My question is how soon after that will I qualify for unsecured cards, e.g. Gas cards, dept. cards etc.. Not to get back into a mess but to increase my scores. Thanks for your help.
Your discharge happens 60 days after your meeting of the creditors. You can apply for anything, just make sure it's not a company you filed on and check the FAQ here for the link to the post on what cards are bk friendly. Newstdt
From the "FAQ" post (one of the first three posts on this board) under "What credit cards can I get after bk?": http://consumers.creditnet.com/stra...threadid=11580&perpage=20&pgnum=&pagenumber=1
Wow, that was some great info that I know will help me out!!! Much appreciated, I feel pretty good now! Thanks!
You really need to read the top 3 threads. I don't mean to be a downer, but chances are, after you file you are going to need to do some cleanup on your reports. After your discharge, you should order all 3 reports. You will find some are reporting incorrectly and you will need to get this straigtened out before applying for anything.
I too don't wish to be a downer. But I'd try hard to get my scores up just before applying for new credit. There are things you can do now, including working on getting some hard inquiries off and working on any late pays, judgments, collections, etc. that show on your credit now that won't be effected by your BK discharge. There will likely be a brief window before your reports say BK-Discharged. Watch your reports carefully, as sometimes your score will be at its highest just before the discharge is posted, rather than just after. Good luck.
I know I have heard many times that I do need to pull my reports and do some extensive work on them afterwards. But I was really curious how credit works after the filing. I am filing Ch. 7, our mortgage is current, so there are no problems there. Thanks!!
