topic Re: Just Discharged... To Build or to Garden? in Bankruptcy

Just Discharged... To Build or to Garden?

Anonymous — Tue, 04 Oct 2016 18:36:39 GMT

Just received my discharge papers yesterday - discharge was September 30, 2016. I've read the "700" post about what to do to restart, however, I was put in a position where I had to apply for a PLUS oan for my son and was actually approved last Friday- keep in mind I was denied January of this year- prior to me filing Chapter 7. Should I just wait and pay on the loan for a few months to build credit and then start the "700" plan? Does the Plus Loan report as an installment or line of credit? Thanks for any advice!

Re: Just Discharged... To Build or to Garden?

nykos5000 — Tue, 04 Oct 2016 19:10:02 GMT

@Anonymous wrote:
Just received my discharge papers yesterday - discharge was September 30, 2016. I've read the "700" post about what to do to restart, however, I was put in a position where I had to apply for a PLUS oan for my son and was actually approved last Friday- keep in mind I was denied January of this year- prior to me filing Chapter 7. Should I just wait and pay on the loan for a few months to build credit and then start the "700" plan? Does the Plus Loan report as an installment or line of credit? Thanks for any advice!

Being that you would want a good mix of credit to start rebuilding I would still continue the "700" in addition to the Plus Loan. This would only be even more beneficial to your credit.

Re: Just Discharged... To Build or to Garden?

Scupra — Tue, 04 Oct 2016 21:13:56 GMT

The loan would just eliminate the need for an installment TL. Congrats on the approval and good luck on your rebuild