Reply
Contributor
Posts: 81
Registered: ‎11-05-2008
0

Can't get approved

This is crazy.  I have been working on rebuilding my credit since I filed a Chapter 13 over a year ago.  I was approved for one credit card last year and I have paid it on time every month.  I'm getting a little frustrated though because when I spoke to a broker I was informed that I need more credit.  How can I get new credit when I can't even get approved and if I have too many inquiries hit my credit report it will drop my score.

Regular Contributor
Posts: 226
Registered: ‎05-24-2012
0

Re: Can't get approved

Have you tried getting secured cards?

Contributor
Posts: 89
Registered: ‎06-02-2012
0

Re: Can't get approved

Is your case discharged?

Contributor
Posts: 89
Registered: ‎06-02-2012
0

Re: Can't get approved

How long is your credit history

Contributor
Posts: 81
Registered: ‎11-05-2008
0

Re: Can't get approved

I didn't try any secured credit cards.  My question with those is, will they really help me rebuild my credit.  My credit score has jumped over 100 points since I filed Chapter 13 last August.  I'm only about 30 points away from 620.  I really want to purchase a house within the next six months and I need to re-establish credit but I only have one credit card.  I'm still paying my car note through my Chapter 13 but they aren't reporting it on my credit report anymore. 

 

Do you think I can still use them as a tradeline even though they're not reporting on my credit report?

Contributor
Posts: 89
Registered: ‎06-02-2012
0

Re: Can't get approved

Talk to your attorney. Mine didnt  even let me get a car to make it to work. I doubt if you can get a home while under chpt 13

Contributor
Posts: 89
Registered: ‎06-02-2012
0

Re: Can't get approved

Here in Illinois, you are not supposed to touch your credit reports without speaking with your attorney while under  chpt 13

Community Leader
Super Contributor
Posts: 6,432
Registered: ‎03-06-2010
0

Re: Can't get approved

If you are going to buy a home while you are in a Ch 13, you do have to have permission of the trustee handling your BK. Naturally you would go through your attorney for the court's approval.

 

It is possible to get a mortgage loan in a Ch 13, but you would need to speak to a lender to find out their requirements.

 

 

Contributor
Posts: 81
Registered: ‎11-05-2008
0

Re: Can't get approved

I've heard of people getting a house in a Chapter 13 with their trustee's permission.  Hopefully he won't give me a hard time.  Why can't you pull your own credit report while you're in a Chapter 13?  That doesn't make sense to me.  I need to know what's on my report to make sure everything is reporting correctly.  I'm not trying to wait until five years go by and then I see a ton of stuff reporting wrong on my credit report and then it takes me another two years to fix it.

Valued Member
Posts: 115
Registered: ‎04-30-2012
0

Re: Can't get approved

My BK7 was discharged on 8/21/2012 and i recieved a capital one visa 2,000 and credit one visa 1,500. Just try rebuilding and apply to sub prime lender i know from experience ($4 Million BK7) Good Luck :smileyindifferent:

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.