Just Discharged, now what?

[Anonymous]

I was recently discharged few days ago from Chapter 7.

The only thing that's still reporting is my kid's student loan (PLUS - Parent Loan of Undergraduate Student).

First, a brief story: I was recently divorced from a wife who charged up hers and mine cards and after years of shovling my hard-earned pay into paying down debts. Once I asked for divorce, she left me huge debt by charging up my cards. Possibiliy opening a Capital One in my name ($300 limit) I told CapOne it wasn't me but they couldn't do anything about it! Coupled with no more overtime pay, she left a kid in my care, dogs, etc... it was overwhelmed and I was forced to file for Bankruptcy Chapter 7.

Now things are good since she doesn't have access to my credit (It's been credit freeze with any alerts if she or her friends tried to open any accounts!)

So with that being said and done,  I'd like to rebuild my credit because I know I will do good with my credit as I did before she messed mine up. I'd like to buy a new car for my commuting to work, kids events, etc. in late fall.

I don't have any credit cards at all but I need one or 2 to rebuild, hopefully unsecured! Based what I have seen here, it looks like Capital One is the best way to go and even people who burned them did get new card from them! I'm not looking for a HUGE credit limit just a reasonable enough for me to charge it, repay in full to report postive on my credit reports to boost my credit scores (which is about 544 to 560 now, from 805 before the divorce!!!! Ugh!)

I'd like to buy a home in couple years (after showing good payment history on my card(s).

So what is the good way to rebuild? I'm kinda scared of even trying to apply for a card and face denial notice!

Thank you for your time in reading this and hopefully answering this.

Cheers!

[incognitony]

Do the capital one pre-qualifier and see if they will approve I have burned them twice over the years and they still gave me a 500 and 300 card this month after filing chapter 7 in Feb and before discharge.

[Anonymous]

But wouldn't that impact Hard Pull? I don't want to rack up too many HPs.

[incognitony]

The qualifier is a soft pull it's only a hard pull if you apply.

[Anonymous]

Didn't know that. So if I try that what would they say? Approved or not if approved, then what's the next step?

[Scupra]

I think Cap1 is worth the HP honestly. If you are blacklisted they wont pull your credit anyway. They are probably your best shot at an unsecured card right now. If you are approved for the first one I would apply for a second one right away as almost all are approved for 2nd Saves you a HP! Good luck and let us know how it works out 

[incognitony]

I know it says no cards found if you aren't pre qualified..

[Scupra]

Just don't rely on a pre qual. Plenty of us have been approved without it. If you have it great, if not oh well

[Creditwiser]

Hey, welcome to the forum.  Everyone above is correct.  I burned Cap 1 in BK and they were very good to me 11 months ago when I was discharged. See what you can do to stay away from secured cards. If that doesnt work, there are still other good options if you have to go the secured route.  I strongly suggest you READ all you can on this forum and continue to learn how to repair your situation.  Im a few days from 1 year after discharge and I never could have imagined being in this good of shape.  You can do this. Good luck,

[Anonymous]

I agree about all that is said about Capital One. I also burned them and that was my first card after my Chapter 13. It was a secured card that worked well for me. I am just cancelling it this month after two years of on time paid in full record that was the beginning of my credit recovery.

Good luck in your endeavors. You are in the right place for help as these forums really changed everything for me. 

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