Chapter 13 discharge with no credit score

[Anonymous]

Filed Ch13 in 04/09 and was discharged 9/29/14. Had a foreclosure 7-8 years ago. I pulled my free credit reports and the only thing showing is the Ch13. It also says that it will be reported until April 2016.

I thought for sure it would tell more, especially the foreclosure. I tried to get my score through Myfico but apparently I don't have one because I haven't had any credit in several years.

I tried to get Capital One QS1 but was denied. So then applied for their secured card and was approved. Also applied for BofA but it's still in review.

So how bad off am I and what do I need to do now? Thanks

[Anonymous]

You just need to build a credit history now. Another secured card you can consider is the OpenSky card. It requires a minimum $200 deposit and doesn't do a credit pull. It also reports to the bureaus quickly. Your biggest problem with be average age of account since you have none. That will build with time though. Good luck!

[mynameainttracy]

If the FC was after the BK, and the mortgage account was IIB, it won't be listed as a separate item on your credit reports.

[Anonymous]

The FC was before the Ch13. How long do you guys think I'm looking at before I can buy a house? I'm not in no particular hurry, would just leave me to get an idea so I can set goals.

[mynameainttracy]

For us, we had to wait 2 years post discharge. Save as much as you can and get your credit reports cleaned up. You should also try to get 3 tradelines reporting if possible and start getting a payment history going.

[Anonymous]

My reports are clean except for the Ch13 which stops being reported April 2016. Or at least that's the way I understand it. The hard part is getting trade lines at this point.

[Grafton88]

I was in the same place.  A discharged CH13 but no FICO scores.  I also got a secured credit card.  After 6 months I finally got my scores.  They were around 640-650.  Not too bad.

[Grafton88]

You can also try to get a shares secured loan from a credit union.  They take money from your shares(savings), put it on hold, and then lend you the money.  As you pay it back that money returns to your savings account minus a few dollars in interest.  See if you can join one.

[Anonymous]

I have been with my credit union over 15 years. I need to see if they have any credit builder loans. And maybe a secured card. My BK stops being reported in 2 months, perhaps that would be a better time to ask for a loan?

I also have a Capital one secured card on the way. I applied for a Bank of America secured card but haven't gotten a response, but when I checked my bank account online it says they have a $300 withdrawal "pending". Maybe that's a good sign?

[Anonymous]

My credit union gave me a saving secured loan 2 months after BK discharge.  It is a no brainer for them becuase you are putting up the cash as collateral.   You really don't need the BK to drop off for that kind of loan.  Raising your credit scores is a marathon and does not happen quickly.  After sevral months with your secured credit cards you might want to try Cap 1's prequalification site for an unsecured one.  It doesn't hurt your CR as it is a soft pull and will be a good indication if you can get an unsecured card.