Contributor
ProudMomof5
Posts: 81
Registered: ‎11-05-2008
Can't get approved

This is crazy.  I have been working on rebuilding my credit since I filed a Chapter 13 over a year ago.  I was approved for one credit card last year and I have paid it on time every month.  I'm getting a little frustrated though because when I spoke to a broker I was informed that I need more credit.  How can I get new credit when I can't even get approved and if I have too many inquiries hit my credit report it will drop my score.

Regular Contributor
indecison
Posts: 226
Registered: ‎05-24-2012
Re: Can't get approved

Have you tried getting secured cards?

Contributor
Poorboi
Posts: 86
Registered: ‎06-02-2012
Re: Can't get approved

Is your case discharged?

Contributor
Poorboi
Posts: 86
Registered: ‎06-02-2012
Re: Can't get approved

How long is your credit history

Contributor
ProudMomof5
Posts: 81
Registered: ‎11-05-2008
Re: Can't get approved

I didn't try any secured credit cards.  My question with those is, will they really help me rebuild my credit.  My credit score has jumped over 100 points since I filed Chapter 13 last August.  I'm only about 30 points away from 620.  I really want to purchase a house within the next six months and I need to re-establish credit but I only have one credit card.  I'm still paying my car note through my Chapter 13 but they aren't reporting it on my credit report anymore. 

 

Do you think I can still use them as a tradeline even though they're not reporting on my credit report?

Contributor
Poorboi
Posts: 86
Registered: ‎06-02-2012
Re: Can't get approved

Talk to your attorney. Mine didnt  even let me get a car to make it to work. I doubt if you can get a home while under chpt 13

Contributor
Poorboi
Posts: 86
Registered: ‎06-02-2012
Re: Can't get approved

Here in Illinois, you are not supposed to touch your credit reports without speaking with your attorney while under  chpt 13

Community Leader
Senior Contributor
StartingOver10
Posts: 3,746
Registered: ‎03-06-2010
Re: Can't get approved

If you are going to buy a home while you are in a Ch 13, you do have to have permission of the trustee handling your BK. Naturally you would go through your attorney for the court's approval.

 

It is possible to get a mortgage loan in a Ch 13, but you would need to speak to a lender to find out their requirements.

 

 

Contributor
ProudMomof5
Posts: 81
Registered: ‎11-05-2008
Re: Can't get approved

I've heard of people getting a house in a Chapter 13 with their trustee's permission.  Hopefully he won't give me a hard time.  Why can't you pull your own credit report while you're in a Chapter 13?  That doesn't make sense to me.  I need to know what's on my report to make sure everything is reporting correctly.  I'm not trying to wait until five years go by and then I see a ton of stuff reporting wrong on my credit report and then it takes me another two years to fix it.

Valued Member
nicholasc77
Posts: 115
Registered: ‎04-30-2012
Re: Can't get approved

My BK7 was discharged on 8/21/2012 and i recieved a capital one visa 2,000 and credit one visa 1,500. Just try rebuilding and apply to sub prime lender i know from experience ($4 Million BK7) Good Luck :smileyindifferent: