Filed Chapter 7 BK - What's next?

[Anonymous]

Hello All,

Just filed my Chapter 7 BK in 02/15, pro se and everything has gone well so far. Have my creditor meeting 03/15 and discharge is expected to be in 05/15. I was 17k in debt and the only major creditor included in my BK was Capital One (only $806). My goal is to build credit, start saving and in 2 years buy a house. I know about the HOW TO: Guide but wanted to get some real and simple advice and opinions.

I have Checking accounts with BoA and NFCU. How should I start building? What about store credit cards - are they off limits? Secured Cards?

My scores are currently EQ 499 and TU 477 and I see them slowly rising each week.

[0REDSOX7]

Depends on your needs, go ahead and get your report updated as much as you can. I needed two auto loans post discharge and worked very diligently to have my reports updated.

Store cards I would avoid personally. I'd also avoid secured if you can.

If you have accounts with NFCU, see if they will give you a credit card or at least a credit builder loan.

[Creditwiser]

If you didnt burn NFCU for anything then you have a huge advantage in the rebuild. As Redsox mentioned, get your reports in order and make sure everything discharged is reporting IIB. A couple credit cards and a credit builder loan or auto loan and jump in the garden.  Also, even though you burned Cap1, they may still extend credit to you. I was disch last July and look at my siggy.  Learn all you can on here and have patience. You WILL get there.  Try to limit your HP's post discharge. In fact dont bother with NFCU NavCheck LOC,Save yourself the HP. They will likely give you a CC but with the BK, its unlikely you will get a LOC. Good luck and welcome to the forum .