I am filing my Chapter 7 on Saturday. My score pre-filing are Equifax= 435, TU=439, and XPN=459. I want to get these scores in the mid 650 range in teh next 6 months. I am competely committed and ready to do this. What steps would you recommend? I am lost and reading like crazy trying to get an understanding of how to make this work. Also, I will be giving up my car. (Hunk of Junk Anyway) Trying to get into a new (meaning NEW) car asap with a reasonable interest rate. Can anyone share anything to make this a reality for me.
Thaks in Advance!
Hello FreNichole and welcome to the board! You picked the right place to come get some advise. Ive found alot of valuable credit advise here. I filed BK chapter 7 in Jan/Feb of this year and I am now discharged. I filed on my Buy Here Pay Here Car as well. I was able to get a car loan with a real finance company the day I got my discharge papers in the mail. I wouldnt recommend that you do that but thats your decision. I dont regret my loan. I got a okay interest rate, a great car and low payments. They are low to me because my payments on my other car were $400 a month and now I pay $200.
You should get a lot of flyers in the mail for BK friendly auto lenders after your discharged. I went to 6 car places before anyone would finance me though. So be prepared for rejection because it isnt easy to get approved right after you get discharged. I would suggest that you get a CC after your discharged to help bring your scores up. Also check your CR to make sure everything is listed accurately. Mine was a mess and Im still trying to get it fixed.