FIRST POST- Awaiting Ch.7 Discharge/Please Help!

Anonymous — Sun, 28 Jun 2020 22:40:29 GMT

I really hope someone can help shed some light on this...and I hope someone actually reads. I'm a little desperate, confused, and nervous...

I'm young and was in a bad, albeit very bad, situation/marriage; and am trying to come out of the other side. I was forced into bankruptcy; filed Chapter 7. Pacer states 8.10.20 as the Objection date and I am hoping the discharge will come shortly after. I am a single mom with a little boy, and a very good, well-paying job. I now make between 80-95k per year.

I have two credit-builder loans that I have made a total of 2-payments each on (early); they've yet to report to my credit report. I had to burn so many things in bankrupty: i.e., Capital One, Barclay, Synchrony, Credit One, Wells Fargo...I did not reaffirm my auto loan through Capital One, but am still making payments. I owe less than what it is worth, but it is currently reporting as 0 balance on my credit report.

I do need a new car almost immediately following my discharge. I drive several miles a day, 6 days a week, because of my job; I also have a toddler that I must drive to and from school each day. I've seen several posts with some auto-loan success following discharge; I just don't know how realistic or what terms may look like, etc. I also want to know what I need to do to rebuild my credit efficiently, and effectively. I've never had to do this on my own; I had great credit for several years, and fell into a really bad situation that I couldnt get out of (in more ways than one).

Can someone please help me? Just some sort of guidance. I am totally lost....thank you for your time and I look forward to reading/discussing this process.

I currently bank at BOA...I don't know if that's even helpful...

Current Scores from My FICO app: Equifax: 575, Transunion: 477, Experian: 513

Re: FIRST POST- Awaiting Ch.7 Discharge/Please Help!

ballysdad — Mon, 29 Jun 2020 02:40:59 GMT

I also did not re affirm through Captiol One for my car. I did call them and said that I would like to keep the car but my Attorney said the Trustee likely would not let me re affirm. Capitol One said just keep making payments. I know they can come get it anytime they want to but as other have said it is unlikely as long as I stay current.

Others have gotten many many offers in the mail after discharge. Most have reported about 19% interest rates. I am going to try and keep my payments current and hopefully one day I can refinance my car so it shows on my credit one day

Re building credit using self builder loan, secured cards and making sure to keep your utiliaztion low. Under 10%. Also remember to see the day your card reports to credit bureaus not when payment is due they are 2 different days.

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FIRST POST- Awaiting Ch.7 Discharge/Please Help!

Re: FIRST POST- Awaiting Ch.7 Discharge/Please Help!