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Registered: ‎03-01-2008
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I filed for bankruptcy what are my options

I filed for bankrupsy. Went to court last month. Got it approved. My score sits around 480 right now. What are my options to rebuild my credit. I appled for a few credit cards but all got denied. How long do I have to wait to be able to get approved? 

Frequent Contributor
Posts: 407
Registered: ‎07-14-2014
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Re: I filed for bankruptcy what are my options

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What kind of cards were you applying for? I started 1 month post BR with first premier, which I still have today 2 years later. They report to all bureaus monthly but don't expect major CLI's. I haven't missed a single payment and only up to $500 CL after two years, originally issued a $300 CL, and I had to pay 25% of the CLI. They are a good rebuilder card as long as you're responsible. I just got approved for C1 QS1 for $3,000 so be patient. You'll get there. 


Credit cards are a convenience. They don't make me feel rich since I am spending someone else's money when I use them and I have to pay the loan back in full when it is due or I get to pay them my money to get that rich feeling. BK7 D/C 3-13 FICO: Was 380 now 662
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Posts: 101
Registered: ‎06-19-2014
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Re: I filed for bankruptcy what are my options


Andrewmacd wrote:

I filed for bankrupsy. Went to court last month. Got it approved. My score sits around 480 right now. What are my options to rebuild my credit. I appled for a few credit cards but all got denied. How long do I have to wait to be able to get approved? 


Just curious why did you apply for bankruptcy?

 

To answer your question perhaps you should start with a secured card and wait for a few years for your BK to get old.

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Posts: 6,438
Registered: ‎03-06-2010
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Re: I filed for bankruptcy what are my options


Andrewmacd wrote:

I filed for bankrupsy. Went to court last month. Got it approved. My score sits around 480 right now. What are my options to rebuild my credit. I appled for a few credit cards but all got denied. How long do I have to wait to be able to get approved? 


I am assuming you are in the US.  If you just went to court last month, then you don't have your discharge in hand yet. You won't get an approval for a new card in the middle of your bankruptcy.

 

You aren't finished with the BK until you have the discharge in hand. Then you can apply for credit.

Valued Contributor
Posts: 2,587
Registered: ‎08-24-2013
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Re: I filed for bankruptcy what are my options

What bankruptcy ... 7 or 13? That court hearing was an opportunity for your creditors to object so my assumption is that none showed up since you stated that it was "approved". Just so you know, there was nothing to be "approved" at that hearing. Subsequent to that hearing, the trustee prepares a disposition recommendation for the justge's approval ... usually the recommendation is for discharge. The judge signs the discharge order and a copy is mailed to you. Have you received that discharge order in the mail yet? If no, you are wrong to be applying for any credit ... and can in fcat get in trouble with the trustee if the discharge has not been issued.

 

There is a lot of information missing from your post so I won't venture to answer your question about applying for more credit until you fill in the information gaps.

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