Established Contributor
aussiesareforever
Posts: 741
Registered: ‎10-04-2010
Re: how to get a loan

Hi Russia

 

How much do you currently owe on the credit cards you have? That amount may be why you were declined. Do you have any negative items on your credit report after filing BK?

 

I got a pretty decent rate (5.5%) about three years after my Chapter 7 was discharged. I applied at two places and got that rate from my local credit union. Do you have any credit unions around that you can join? Are you eligible to join NFCU?

 

There is life after BK. You just have to be patient and ensure you follow the credit laws (pay your bills on time, keep your utilization low and avoid a lot of inquiries). As the previous poster mentioned, 10% is not a bad interest rate but you could potentially get better depending on what is on your credit report and if you shop smart

BK in 2008, after making very stupid financial decisions.

Barclay's Apple Financing Card ($6400) --- Capital One Quicksilver ($10,000)---GEMB CareCredit ($5700) --- AUFCU ($10000)--- Walmart ($5000)

FICO Scores: TU 735 EQ 709 EX 740 (Feb 2013, all pulled by lender)