DISCHARGE DAY!!!!

[Anonymous]

My road to recovery continues!

I just checked Pacer and see that today is discharge day for me!

I would like to thank all of you for all the posts and replies you've put up here to help me thru my BK process!

As I move forward I am somewhat curious to know how long after discharge should you wait to apply for a CC (not to splurge, but to start the rebuild) and auto loan (I IIB my current car).

I will also refer to the 700 in 24 months post.

[LB216]

I'm in the same boat as you! My discharge should be any day now. Hopefully I can obtain a car loan and some small balance credit card. I've been renting cars for the last month or so.

[Anonymous]

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@LB216 wrote:
I'm in the same boat as you! My discharge should be any day now. Hopefully I can obtain a car loan and some small balance credit card. I've been renting cars for the last month or so.

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I got lucky.

Santander took me to court for the rights to be able to take my car prior to discharge however they havent. 

I was looking into the "redemption loans" but I decided to cross my fingers and wait for discharge since I knew I would be able to get a better rate.

I spoke to a dealer this morning who told me I need to have a 575 for them to consider me. 

I burned Cap1 in my BK so im not sure if they will let me in or not.

I am just excited to get this rebuild underway

[LB216]

Yes. My truck was through my local CU. I dropped it off to them over a month ago as I was about $7k upside down. My attorney suggested the redemption route however, the 25% rate they quoted was insane. I burned Cap1 for about $600 so hopefully they'll let me back in soon. I was pre approved through Chrysler Financial a few weeks ago, but they need discharge papers first.

[Anonymous]

Update:

my lawyer emailed me and basically suggested waiting until my case closes (7-10 days) before applying for anything.

[Pway]

Congrats on the discharge.

[jmclaughlin1982]

Congrats on DC! Yes, I'd wait a few days after DC before applying. Although, if you're desperate for a vehicle all you need is a copy of your DC paperwork. I was approved through Ally 1 day post DC. I NEEDED. A car badly.
Another thing is that you don't need to wait to apply for secured products. I was able to do a secured loan and a credit builder through my local credit union just after my 341.