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Credit after bankruptcy

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Anonymous
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Credit after bankruptcy

I filed for bankruptcy on 9/16 of this year.  I had my meeting of creditors last Friday.  I am set for discharge (barring anything unforeseen) on December 27.   I am starting to think about life after bankruptcy and have been reading the boards here since before I filed.  I have no desire to use credit now.  I feel like I could live without using it at all.  The problem is that I want desperately to buy a house in a few years.  My scores are in the 550 range, so I know I would not qualify for a mortgage at this level.  I kept my car and will pay it off next November.  That's the only thing I have to pay.  I guess what I"m wondering is if I do not get any type of credit, will my score stay the same?  Will it go down more?  I have been reading here and it seems so complicated juggling cards and all that.  I don't know if I can do that.  Besides that, it seems weird to get cards and use them when I don't need them.  On the other hand, I need to raise my scores.  I'm not sure what to do.

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FireMedic1
Community Leader
Mega Contributor

Re: Credit after bankruptcy

I kept my truck thru BK and had no cards after. I remember when I first joined here my score was 606 avg. I went on the Cap1 pre-qual site and took the Platinum. Started at 2k. After I'd say the 2cd or 3rd statement cut. My score jumped 80 points. I can still see the graph on MyFICFO 3B Membership. Probably cause I had an installment loan already and now I had a revoling account which FICO likes. I took the advise here and now you can see my results below at 1 year. Grab a card or 2. Use them and pay on time and you'll see the jump. JMHO


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