This sound like a good plan?

Discussion in 'Credit Talk' started by cid, Sep 27, 2003.

  1. cid

    cid Member

    My BK was discharged on 3/2003.

    I just pulled my EX report and I am at a 574, but there are discrepancies. So once I pull all 3 and get them all cleared I am guessing ill be at 610.

    Once this is done, I am going to take out a 3k LOAN on my 401k. I sent my rep an email today asking them if the loan would go on my CR (I kind of doubt it though).

    Once I have the 3k and my CR in the best shape possible I am going to go to my bank. I am going to ask them if I can get a 3k secured loan. If they say yes then I will take that 3k and get a secured CC. I will use the CC for gas and whatnot paying it off each month.

    So then I will have:
    Auto loan
    3x student loan
    Secured loan
    Secured CC
    All this after my discharged BK...

    Then 9 months of paying on time etc... I will try to get an unsecured CC.

    So when my 24 months are up I should have a high enough score to get a good home loan.

    So does this sound good or am I going astray somewhere?

  2. lbrown59

    lbrown59 Well-Known Member

    am I going astray somewhere?
    going astray here>>I am going to take out a 3k LOAN on my 401k
    THE END ** *** ** LB 59
  3. cid

    cid Member

    Why is that? All my monies stay in my 401k. It is a LOAN against the 7k I currently have in it.

Share This Page