@Anonymous wrote:People usually see a big score jump after filing because your revolving balances should get zeroed out. And carrying high balances on credit cards effects your score as bad as late pays and collections. So you will probably get a nice score jump and once you get your discharge, the credit card offers will start flowing in. The reason for that is lenders know you cant file again for a long period of time. Dont fall for the predatory credit cards with the huge annual fees and the opening balances when you accept the card.
Stick with the Capital ones and the credit one companies. NO FINGERHUT. NO BLUESKY. None of those bottom barrel banks looking to charge you fees while only giving you a $300 limit.
Try to get a Navy secured card or a secured card from BOA or Capital one if you cant get unsecured. Then only use them for gas.
I'd flip the CreditOne offers into the "bottom barrel" class, too predatory for my liking.
@Anonymous wrote:Not at all. I have one they gave me, $2000 limit and no fees. How is that predatory?
A fee free card is pretty rare for CreditOne, you are one of the very few with such a card, then there is they fact they typically charge interest from the moment a charge is made. I call that predatory.
Cards from the likes of CapitalOne are far more traditional in that if you pay the balance in full by the due date, there is zero interest charged.
@Anonymous wrote:Might be a dumb question but will late pays on a previous car had last year still be on there or does BK resolve that as well?
@Anonymous wrote:People usually see a big score jump after filing because your revolving balances should get zeroed out. And carrying high balances on credit cards effects your score as bad as late pays and collections. So you will probably get a nice score jump and once you get your discharge, the credit card offers will start flowing in. The reason for that is lenders know you cant file again for a long period of time. Dont fall for the predatory credit cards with the huge annual fees and the opening balances when you accept the card.
Stick with the Capital ones and the credit one companies. NO FINGERHUT. NO BLUESKY. None of those bottom barrel banks looking to charge you fees while only giving you a $300 limit.
Try to get a Navy secured card or a secured card from BOA or Capital one if you cant get unsecured. Then only use them for gas.
It's a definite maybe as to whether the lates will drop off. We had a car loan which was active when I filed my Chapter 13, and even though we never made a single late payment, it reports as if there were late payments as the loan is listed as "Included In Bankruptcy" (IIB). I'm thinking (hoping?) that loan will drop off next February when my filing ages out to the 7-year mark. With that said, I believe I've read here where other auto loans were IIB and dropped off credit reports in as little as six months, so, as I wrote earlier, "a definite maybe".
@Anonymous wrote:Even if they were closed before I file?
If you're asking if the auto loan will show up on your credit report, warts and all, if you close out the account before you file, they I believe the answer is an absolute "yes", it will most likely stay on your report for 10-years.