Regular Contributor
Posts: 146
Registered: ‎02-06-2009
Re: Can't get approved

@ProudMomof5--Yes, secured cards DO work!!! I'm a firm believer!! My credit scores have increased 100 pts in the last 8 months and only using one secured card. 


@softballgirl29 --Congrats on the discharge!! You've made it out of debtor's prison!! Depending on the rules of your trustee, you probably could have already started to rebuild your credit.  It really would have depended on the state and county you're in and the rules of the trustee as some are MUCH, MUCH, stricter than others.   I don't see any reason why you can't get started right away--you've completed your plan.  As of when I filed (September 2009) in NC, permission was only required from the trustee when desiring to finance anything over 1K.  Due to this, I was able to get a secured card without going to my trustee.  I also received a packet of information from my lawyer, telling me that I could begin rebuilding credit immediately and ways to go about doing so.  You can purchase a home while still in Chapter 13 with trustee permission after 12 consecutive (timely) payments.  I was told by a lender that as soon as I received my discharge from Chapter 13, I can begin right away.  Of course, YMMV.  I'm choosing to wait so I don't have to jump through the extra hoops.  Just crossing my fingers in hopes that I receive my discharge paperwork quickly!

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Starting Score: 426 Ch. 13 BK Filed Sep 2009; Discharged Jan 2013 Smiley Happy
Current Score: TU 706 EQ FICO 701 EX 704
Goal Score: 720