Ch7 & Car Lease

[Anonymous]

Hello everyone, 

Today I signed all the paperwok for initial filing and i decided to keep my car lease.  Will this be enough to build my credit cosidering that it is a loan?  or will I have to open credit cards to rebuild?

Thank you and i look forward to your responses. 

[Scupra]

Hello and welcome to myFICO!

What you will want to make sure of is that the lease will actually continue to report. The lease will count as an installment TL but you will need revolving TL's to really build your credit. I would take some time and read some of the bigger ongoing threads in the BK section so you can learn the basics.  This will help you a TON! Good luck and let us know if you have any questions.

[Anonymous]

Scupra, 

Thank you for the response and advise.  I will look up those threads and take notes.  If there is a specific one you believe i should look at, please advise.  

Cheers, 

[Scupra]

http://ficoforums.myfico.com/t5/Bankruptcy/HOW-TO-From-BK7-discharge-to-700-in-24-months-or-less/td-...

http://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Friendly-Credit-Cards-Pt-2/td-p/3999737

Both of these are great starts. Should give you enough to read for a lonnnng time We are all here, if you have any questions just let us know.