Road to rebuilding post Chapter 7

[Anonymous]

Credit Card approvals post Chapter 7 with no Credit cards in over 7 years

‎12-16-2014 08:48 AM

Hello Everyone,

Im new here and I want to learn as much as possible as far as rebuilding and maintaining good credit history i filed 11/25/2014 and my 341 is on the 22nd. Im not anxious to apply for anything right now. I do have concerns of do's and dont's. My current scores pre discharge are EX 564 TU 602 EQ 567. All i have is my new vehicle that i am keeping but no credit cards. I didnt have anyto file though i did have on charged off from First Premier for 422.00 in 2007. I have learned the hard way that you cannot live beyond your means. I do have a decent paying job now and have always had stable work history. Feel free to give me any advice you would like.

Thanks

[Anonymous]

Hello Everyone,

Im new here and I want to learn as much as possible as far as rebuilding and maintaining good credit history i filed 11/25/2014 and my 341 is on the 22nd. Im not anxious to apply for anything right now. I do have concerns of do's and dont's. My current scores pre discharge are EX 564 TU 602 EQ 567. All i have is my new vehicle that i am keeping but no credit cards. I didnt have anyto file though i did have on charged off from First Premier for 422.00 in 2007. I have learned the hard way that you cannot live beyond your means. I do have a decent paying job now and have always had stable work history. Feel free to give me any advice you would like.

Thanks

[Anonymous]

First step in rebuilding after BK7 is to get a secured card. SDFCU is easy to get and is a soft pull, Cap One is recommended also. Apply right after you are discharged. You are keeping your vehicle loan which is good. You can also get a 'rebuilder' installment loan as well. Works similar to a secured loan, except its secured with the loan proceeds - which is released to you at the end of the loan. Sort of like paying a small fee for a Christmas club account.

You can also get a regular secured loan from a CU like SDFCU.