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Chapter 13 (finally) discharged!!!

Established Contributor

Chapter 13 (finally) discharged!!!

We made our 60th payment in April and finally received our discharge this week (July 11). After getting notice of our discharge (and verifying in Pacer), I immediately pulled all three credit reports for each of us annualcredit and paid only for credit scores from Experian. Mine was 624 and DH's was 633. I know CK has Fako's but I'm okay with using it for now to see things show up, get taken off, and/or to see credit score start to rise or fall. 

 

Also, the day of discharge, I checked the prequal site for Cap 1 and it was a no go for both of us. CK showed today that our BK is reporting as discharged so I decided to check prequal site again and this time, we were each shown three possible cards. Even though I was still scared of a denial, I applied for the Quicksilver and was approved for $10K. Totally shocked!

 

We really do not want to have a lot of credit available to us but we know we will need to replace one or both of our cars before the end of the year. So, we want to have some positives reporting for us (other than the $1000 limit secured card we have had the last four years) before we look into car loans.

 

I will definitely make DH an authorized user on my account and now we are deliberating about having him go ahead and apply for a Cap 1 card in his name. If so, we are considering the dining rewards one so that our accounts have different rewards options. 

 

After completing a 5-year Ch. 13, it feels somewhat surreal now to be back in the driver's seat. We intend to be as smart about credit as possible going forward and I'm not looking forward to finding out where I stand with my still considerable students loans. The trustee paid about 33% of the balances stated at the beginning but I know that it doesn't always get credited correctly (principal versus interest). So, it is unlikely that the remaining balance is $50K like the trustee site says it is.

 

I'd appreciate thoughts/counsel on (1) DH also applying for a card and, if so, getting a different rewards program with it and/or (2) experiences with student loans when they roar back to life after Ch. 13 discharge. TIA!

Filed Chapter 13 April 2012. Case successfully closed May 2017, about 1 month after 60th payment. FAKO scores on close date: TU 695 EQ 697. Received discharge July 11th - took forever! Real EX day of discharge 624.
Message 1 of 7
6 REPLIES
Frequent Contributor

Re: Chapter 13 (finally) discharged!!!

Congrats on your discharge and Cap 1 credit card. Yes, I would have DH apply for the Cap 1 card to start rebuilding his credit.

Message 2 of 7
Valued Contributor

Re: Chapter 13 (finally) discharged!!!

Congrats on your discharge! Huge milestone. 

BK 5-2012 Revolving Rebuild Started 6-2016
AMEX ED, Delta & SPG | BOA CR | PenFed PR & CR | NFCU FS | Discover IT | Cap1 QS & VENTURE | LOWES | Barclays AVIATOR

Message 3 of 7
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Contributor

Re: Chapter 13 (finally) discharged!!!


Math_Rocks wrote:

We made our 60th payment in April and finally received our discharge this week (July 11). After getting notice of our discharge (and verifying in Pacer), I immediately pulled all three credit reports for each of us annualcredit and paid only for credit scores from Experian. Mine was 624 and DH's was 633. I know CK has Fako's but I'm okay with using it for now to see things show up, get taken off, and/or to see credit score start to rise or fall. 

 

Also, the day of discharge, I checked the prequal site for Cap 1 and it was a no go for both of us. CK showed today that our BK is reporting as discharged so I decided to check prequal site again and this time, we were each shown three possible cards. Even though I was still scared of a denial, I applied for the Quicksilver and was approved for $10K. Totally shocked!

 

We really do not want to have a lot of credit available to us but we know we will need to replace one or both of our cars before the end of the year. So, we want to have some positives reporting for us (other than the $1000 limit secured card we have had the last four years) before we look into car loans.

 

I will definitely make DH an authorized user on my account and now we are deliberating about having him go ahead and apply for a Cap 1 card in his name. If so, we are considering the dining rewards one so that our accounts have different rewards options. 

 

After completing a 5-year Ch. 13, it feels somewhat surreal now to be back in the driver's seat. We intend to be as smart about credit as possible going forward and I'm not looking forward to finding out where I stand with my still considerable students loans. The trustee paid about 33% of the balances stated at the beginning but I know that it doesn't always get credited correctly (principal versus interest). So, it is unlikely that the remaining balance is $50K like the trustee site says it is.

 

I'd appreciate thoughts/counsel on (1) DH also applying for a card and, if so, getting a different rewards program with it and/or (2) experiences with student loans when they roar back to life after Ch. 13 discharge. TIA!


Congrats it is indeed a great feeling.

 

I would have waited at least 30 - 60 days to pull my annual credit report.  It can take sometime for them to "fix" things after a discharge.  I currently have some diputes in place to fix some issues with mine.



Equifax - 644
TransUnion - 641
Experian - 639
Message 4 of 7
Established Contributor

Re: Chapter 13 (finally) discharged!!!


VoltaicShock wrote:

Congrats it is indeed a great feeling.

 

I would have waited at least 30 - 60 days to pull my annual credit report.  It can take sometime for them to "fix" things after a discharge.  I currently have some diputes in place to fix some issues with mine.


Totally understand waiting but I wanted to know exaclty how things looked before it starts clearing up and definitely wanted a pre-cleanup score. I feel like I can use CK to track changes to my credit reports, at least TU and EQ. I'll probably pull a score in 30-60 days.

Filed Chapter 13 April 2012. Case successfully closed May 2017, about 1 month after 60th payment. FAKO scores on close date: TU 695 EQ 697. Received discharge July 11th - took forever! Real EX day of discharge 624.
Message 5 of 7
Established Contributor

Re: Chapter 13 (finally) discharged!!!

Had DH apply for a different rewards card with Cap 1 the next day. He was also approved for $10K. But, for each of us, it sent us to a screen to set up our account and hit a snag. "This feature not available." I called customer service and she said it is a known issue. She could see my approval but said I just have to wait for my welcome kit within 14 days. I'm really bummed to not get the account setup but will try to be patient. 

 

That's actually why I waited until the next day for DH to apply; I thought the technical issue would be cleared up. I also don't know if it has to do with the fact that we had Cap 1 accounts more than 5 years ago when we filed Ch. 13, like it is recognizing our socials. Anyone have the same issue?

Filed Chapter 13 April 2012. Case successfully closed May 2017, about 1 month after 60th payment. FAKO scores on close date: TU 695 EQ 697. Received discharge July 11th - took forever! Real EX day of discharge 624.
Message 6 of 7
Established Contributor

Re: Chapter 13 (finally) discharged!!!

DH received an email yesterday that his Cap 1 card shipped. I have not received such a message even though I applied the day before him. Go figure!

 

I also opened a PenFed account and they approved us for a $500 unsecured, cash back card (I forget the name). Even though the Cap 1 limits are so much higher, I'm actually more excited about being approved for the PenFed card! This is because I know we will need to replace one or both of our cars in the next few months and I am hoping that PenFed will be an option for auto loans.

Filed Chapter 13 April 2012. Case successfully closed May 2017, about 1 month after 60th payment. FAKO scores on close date: TU 695 EQ 697. Received discharge July 11th - took forever! Real EX day of discharge 624.
Message 7 of 7