Rebuilding after BK7 with State Tax Liens!

Anonymous · ‎12-13-2017

Good afternoon,

I filed Chapter 7 Bankruptcy last week 12/6/2017 to get rid of hopital bills. Patiently waiting for my 341 meeting 1/9/17 and then my discharge. I am currenly trying to set us up for success and to build credit FAST! I owe state taxes from when I filed in 2014,2015,2016, and 2017, with almost a total of about $1400 that I owe Utah. Does this play a big factor in obtaining a credit card after my bankruptcy is discharged? I plan on calling the state and figuring out a payment plan, but would like to know if I should pay this debt off before applying for a credit card, or would I be okay applying for a credit card while on a payment plan with the state of Utah for my tax lien? Trying to figure out the best way to go about this with out taking a bunch of hits by hard inquires after discharge.

Thank you in advance.

-UsoDak

Anonymous · ‎12-13-2017

@Anonymous wrote:
Good afternoon,

I filed Chapter 7 Bankruptcy last week 12/6/2017 to get rid of hopital bills. Patiently waiting for my 341 meeting 1/9/17 and then my discharge. I am currenly trying to set us up for success and to build credit FAST! I owe state taxes from when I filed in 2014,2015,2016, and 2017, with almost a total of about $1400 that I owe Utah. Does this play a big factor in obtaining a credit card after my bankruptcy is discharged? I plan on calling the state and figuring out a payment plan, but would like to know if I should pay this debt off before applying for a credit card, or would I be okay applying for a credit card while on a payment plan with the state of Utah for my tax lien? Trying to figure out the best way to go about this with out taking a bunch of hits by hard inquires after discharge.

Thank you in advance.

-UsoDak

Go ahead and apply for a couple of secured cards right out of the gate. IMO, don't sweat the inquiries. They are a part of rebuilding and really don't do much harm to an already severely damaged profile. By the time your rebuild is essentially done in 24 months they will be gone anyway.

Anonymous · ‎12-13-2017

Thank you kindly for your response.

So the tax liens on my credit report won't play a huge factor when it comes to applying for a secure credit card either?

Thank you

@Anonymous wrote:
@Anonymous wrote:
Good afternoon,

I filed Chapter 7 Bankruptcy last week 12/6/2017 to get rid of hopital bills. Patiently waiting for my 341 meeting 1/9/17 and then my discharge. I am currenly trying to set us up for success and to build credit FAST! I owe state taxes from when I filed in 2014,2015,2016, and 2017, with almost a total of about $1400 that I owe Utah. Does this play a big factor in obtaining a credit card after my bankruptcy is discharged? I plan on calling the state and figuring out a payment plan, but would like to know if I should pay this debt off before applying for a credit card, or would I be okay applying for a credit card while on a payment plan with the state of Utah for my tax lien? Trying to figure out the best way to go about this with out taking a bunch of hits by hard inquires after discharge.

Thank you in advance.

-UsoDak
Go ahead and apply for a couple of secured cards right out of the gate. IMO, don't sweat the inquiries. They are a part of rebuilding and really don't do much harm to an already severely damaged profile. By the time your rebuild is essentially done in 24 months they will be gone anyway.

Anonymous · ‎12-13-2017

Thank you kindly for your response.

So the tax liens on my credit report won't play a huge factor when it comes to applying for a secure credit card either?

Thank you

Anonymous · ‎12-13-2017

SDFCU does not even do a credit pull for a secured card. Many other CU'sre that way. Open Sky also does not pull credit for a secured card.