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Ch 13 Discharge - Now What

Community Leader
Valued Contributor

Re: Ch 13 Discharge - Now What

*CL's


EQ 679 EXP 700 TU 763
Message 11 of 43
Established Member

Re: Ch 13 Discharge - Now What

Thank you! We plan to call mortgage company next week and see what can be done. Will look in to guidelines in judgements. The creditors were paid in the ch 13. They were just able to get judgements before we filed.
Message 12 of 43
Established Member

Re: Ch 13 Discharge - Now What/UPDATE DISCHARGE & JUDGEMENTS


mavric wrote:

 

 I think you will find  it a little  easier to rebuilder after a ch13 versus a ch7.   We were discharged 3/1/17  after 5 years. 

 

      Have gotten approved on every thing we applied for and never ask about the ch13.   2 new car's ,3 new credit cards each DW and I.   Maybe we just got lucky!

 

      I say go for it and don't be shy .    Capital one is a great place to start /  car loan and credit card  , That's were we started.   GOOD LUCK



Hey Mavric -- you mentioned that you've "gotten approved on everything you've applied for"

May I ask as to what you have applied for and how long after your discharge did you begin applying?

Much appreciated. Thank you.
Message 13 of 43
Established Member

Re: Ch 13 Discharge - Now What/UPDATE DISCHARGE & JUDGEMENTS

Sure...   

             Discharged 2/28/17   Scores were around 615.

 

  Capital one auto,3/2/17  bought a2016  Dodge journey CPO 5100 miles v6/sunroof crossroad $22300 @3.49% 3000dn /72mo 356 mo

DW    Capital one Platinum  3000 sl  3/3/17 ,  Me  Capital one Qsliver on 3000 sl

 

   3/16/17  Dw bought a2016  CPO Nissan Altima [ CPO with 9 miles on it,still had window sticker on it] 16999 @3.49 with 3000 dn @ 48 mo's 351 mo   .Associated credit union.

 

   3/22/17  Dw  AMX  BCED  4000 sl     3/25/17   me AMX BCED 2000 sl  {  we did have amx before ch 13 that was closed and not part of the BK]

 

   4/10/17    E-bay mastercard  2000 sl  

 

    DW  4/20/17  BJ's Mastercard 3500 sl   

 

    Hope's this helps.   NEVER asked about the CH13.      Like i said i think we got lucky

Message 14 of 43
Established Member

Re: Ch 13 Discharge - Now What/UPDATE DISCHARGE & JUDGEMENTS

thanks, mavric -- really appreciate the insights you've shared. best of luck to you.

Message 15 of 43
Contributor

Re: Ch 13 Discharge - Now What

Congrats on the discharge, mine was discharged on 6/5/2017.

 

So far I have applied for two cards and have been approve for both.  The first one I had a score of 681 and they second one I applied for my score was 703.  It seems it jumped in a few days?

 

After the discharge they suggest you pull your credit report 30-60 days and make sure everything looks good.  Personally I am not going to wait for the creditors to tell the CRAs to update my credit report.  I am going to dispute everything and get it changed as quickly as possible.  I am on a mission to get it fixed and get into the 700s so I can purchase a house next year.  So I am not going to wait for them to fix it.  I am also doing this becuase I learned some lessons over the past few years.  My mortgage is also not reporting and I am unable to access my account.  Apprantly they have to do an audit on my account which can take up to 60 days and with that I am still protected under the bankruptcy rules.

 

Here is what I found should be listed on your credit report after a discharge

 

CRAs and your creditors should report each discharged debt as:

 

  1. having a zero balance
  2. discharged, “included in bankruptcy,” or similar language.

When you discharge a debt in bankruptcy, a creditor cannot report that debt as:

 

  1. currently owed or active
  2. late or delinquent or outstanding
  3. charged off
  4. having a balance due, or converted as a new type of debt (re-aged, or having new account numbers, for example).

Credit Karma makes it easy to dispute anything on your credit report.  I even disputed stuff while in the bankruptcy because it wasn't showing properly on my report.  I think that has helped me.  I would suggest being proactive and take control of your credit report and not relying on the creditors.



Equifax - 644
TransUnion - 641
Experian - 639
Message 16 of 43
Community Leader
Valued Contributor

Re: Ch 13 Discharge - Now What

Vol, did you get your scores from Credit Karma?


EQ 679 EXP 700 TU 763
Message 17 of 43
Contributor

Re: Ch 13 Discharge - Now What


medicgrrl wrote:
Vol, did you get your scores from Credit Karma?

No those numbers are from MyFico and what was listed on the electronic documents after I applied as they have to tell you your credit score.



Equifax - 644
TransUnion - 641
Experian - 639
Message 18 of 43
Community Leader
Valued Contributor

Re: Ch 13 Discharge - Now What

How did you manage a score in the 700's right after discharge?


EQ 679 EXP 700 TU 763
Message 19 of 43
Contributor

Re: Ch 13 Discharge - Now What


medicgrrl wrote:
How did you manage a score in the 700's right after discharge?

I should probably clarify this is my Fico Score 3 that they seem to be using and not my Fico Score 8.  It seems there are different scores for different types of lending.  My other scores are not 700.  I am working to get those to the 700s but most are high 600s.  It is also a Chapter 13 and it doesn't look as bad the older it gets and since most Chapter 13's have you in a payment plan for 5 years it is now 5 years old and will drop off in another 2.

 

My score never went that low when I filed which was great.  I also had a secured card during my bankruptcy which was paid in full every month.  Each state/trustee has different rules and in my area you were not allowed to obtain more than 5K worth of debt while in a bankruptcy.



Equifax - 644
TransUnion - 641
Experian - 639
Message 20 of 43