topic Re: How long after filing ch 13 can we in Bankruptcy

How long after filing ch 13 can we

Unic0rnsRule — Thu, 12 Oct 2023 23:16:14 GMT

Apply for a secured credit card? Any thoughts on who would approve one?
thanks

Re: How long after filing ch 13 can we

Jeffster1 — Thu, 12 Oct 2023 23:45:44 GMT

@Unic0rnsRule wrote:
Apply for a secured credit card? Any thoughts on who would approve one?
thanks

Do not consider applying for even a secured card unless and until you confer with your BK attorney to determine if your BK trustee allows the acquisition of credit during the course of your BK case.

Failure to check and confirm COULD result in the dismissal of your case by the trustee.

Re: How long after filing ch 13 can we

IronedFinna_Talk — Fri, 13 Oct 2023 01:50:54 GMT

I noticed with mine as soon as my credit report no longer have all my debts listed. I started getting preapproval offers. I do agree to ensure you make sure you check with your BK lawyer if you are allowed to apply for CC. There are debt limits too. Mine was $5,000 total debt whether this is CC or combine with 401K loans.

Re: How long after filing ch 13 can we

Horseshoez — Fri, 13 Oct 2023 01:57:28 GMT

@Unic0rnsRule wrote:
Apply for a secured credit card? Any thoughts on who would approve one?
thanks

It depends upon your Trustee, for me, my case would have been immediately dismissed, for others they are allowed to get credit as soon as someone will give it to them. Check the terms of your plan, or talk to your attorney, or, as a last resort, ask your Trustee.

Re: How long after filing ch 13 can we

Lurker22 — Fri, 13 Oct 2023 16:51:41 GMT

@Horseshoez wrote:
@Unic0rnsRule wrote:
Apply for a secured credit card? Any thoughts on who would approve one?
thanks
It depends upon your Trustee, for me, my case would have been immediately dismissed, for others they are allowed to get credit as soon as someone will give it to them. Check the terms of your plan, or talk to your attorney, or, as a last resort, ask your Trustee.

I was lucky, my trustee didn't view secured cards as an extention of credit...sadly I didn't know this until I was down to my last 13 months but IMO it did help jump start my rebuild

Re: How long after filing ch 13 can we

Unic0rnsRule — Sun, 15 Oct 2023 03:58:03 GMT

I know and will get permission, thanks

was asking more who would approve a secured card ...thanks

Re: How long after filing ch 13 can we

Lurker22 — Mon, 16 Oct 2023 23:04:40 GMT

@Unic0rnsRule wrote:
I know and will get permission, thanks
was asking more who would approve a secured card ...thanks

US Bank doesn't care...they'll pull your credit but as long as your deposit is successful the card will be issued, and they offer some decent secured cards.... Secure Card (no rebates) but 2 have rebates...Secured Cash + and Secured Altitude Go (I have both)

Navy Federal also has a secured card that offers a rebate....I believe they're a little more selective but not much

Re: How long after filing ch 13 can we

TJHunt — Thu, 19 Oct 2023 00:17:32 GMT

While I appreciate your question; Ask your lawyer not the internet. Different rules different states different types of bankruptcies

Re: How long after filing ch 13 can we

TJHunt — Thu, 19 Oct 2023 14:37:20 GMT

interesting enough, USBank declined my secured credit card application. Stating Bankruptcy. 676,643,652 fico8 scores. Navy Fed, did not.

Re: How long after filing ch 13 can we

visionsdivine — Fri, 20 Oct 2023 03:31:12 GMT

What I'm about to say might ruffle some feathers on here, but I know someone who had a Trustee from one of those "zero-tolerance, no-credit-without-permission" districts where they filed their Chapter 13 case. They went against their attorney's advice and filed for a secured card anyway even though their trustee would NOT approve an extension of credit until their case was finished. My friend ended up making it the whole five years with that secured card without the trustee ever finding out, and they had five years of credit history fresh out of Chapter 13 bankruptcy being discharged.

So it's always advisable to get approval, just know that sometimes one can slip through the cracks.

Re: How long after filing ch 13 can we

Lurker22 — Fri, 20 Oct 2023 15:39:01 GMT

@TJHunt wrote:
interesting enough, USBank declined my secured credit card application. Stating Bankruptcy. 676,643,652 fico8 scores. Navy Fed, did not.

How long ago did you apply for USB? It's my understanding not too long ago they changed the program to be less selective but who knows for sure (I burned them pretty heavily in my 13 and still even though the datapoints said I wouldn't have an issue I was skeptical but I was approved with an active 13 without having to provide anything from the court or trustee, just my deposit)