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Chapter 13 101


Chapter 13 101

Hi everyone

I’m extremely new to this and could use ALL the advice I can get ! SoOO ... In January when my car was reloaded I filed a chapter 13 bankruptcy. Got my car back ( thank god ) and then all my credit cards were closed . So I have a few questions ..... and I need all the answers I can get ...
- I had some credit cards I was in good standings with but they all were shut down ..... why is that
- I had a Disney credit card through chase .... is there any way I can get that back ?
- is it possible to get a credit card back with a major bank ? I had a : discover , citi , credit one , capital one , Disney , and retail stores . Is it going to be easy to get them back ?
- do we find credit karma cediable ?
- the part on credit karma when it’s credir card suggestions they have capital one secured ... will they give me one ?
- will I ever get a major credit card again ?
- what happens at the federal court hearing and how often do I have to go ?
Message 1 of 10

Starting over with credit ....

My bankruptcy was filed on January of 2019 . I have the hearing next month and I guess that’s where they’ll discharge all the credit cards ?

I need all suggestions on the BEST credit card for starting over .... and if I need a secured credit card all thoughts and suggestions welcome
Message 2 of 10

New Bank

I had a credit card with chase and lost it in the bankruptcy I doubt they are going to give it to me again although I would a Disney chase credit card .... but I was wondering are there any thoughts / advice with Pnc and attempting a credit card with a major bank ?

Message 3 of 10
New Contributor

Re: Starting over with credit ....

I've been heavily studying this topic for a couple of weeks.. I don't know all the answers first hand from my own experiences but I can share what I have gathered.

The one thing I Can say with certainty is I HATED first progress as a secured card. Mostly because there was no way to pay besides snail mail or in store bill pay. being disabled I found this annoying and frustrating to say the least!


After studying these forums I have found these tips, which I chose to follow in hopes of rebuilding an awesome credit profile.

1. if you don't have installment loans on your credit already. Taking out a loan and paying off down to 9% of the balance (and keeping it open while you make the tiny remaining payments for as long as you can milk the open account status) gives a huge boost in scores. less so if you have open or even closed previous installment loans, but it still worked for me and my score went up a good 40 points from this one move! (That was just on the day the loan first reported and not including the score bump with the payments being on time for the last 3 months since I started it) Also, I didnt go try and take out a loan or do a secured loan at a bank or anything.. I did a self lender type loan and just made the first payment bigger than the payment due. others have done secured and even unsecured credit builder type loans and reported success as well.

2. I can't remember the abbreviation that was used for this method, but this is how it was explained. You get 3 cards, secured or not (depending what you get preapproved for). You use them but pay the balances off when the statement cuts, or at least before they report. (you can find out what day most cards report by searching here or google even) You want to make sure that 2 of the cards are reporting a $0 balance and that the 3rd reports 8.9% of the limit. aparently this is the sweetspot for FICO scoring method and your scores will increase the fastest possible with this method.

Tip: Discover and Capital One have preapproval tools so you can know if you are approved without having to take the hard pull. 


Hopefully some of the experienced contributers here will comment and give some more advice. Otherwise, I suggest searching the site for anything and everything you need to know.

2/25/19 FICO 08 = EX-580, EQ-559, TR-610
Current FICO8 as of 5/21/19 = EX 621, EQ?, TR?
Exp mortgage score 607!
Message 4 of 10
Regular Contributor

Re: Chapter 13 101

They shut them down for various reasons... to limit any confusion about what was discharged and what was not or because they dont want a high risk person having an account, etc. Its normal for them to close the accounts even when they're 0 balances. Sometimes certain banks dont close them but that's few a far between.

As far as whether or when different banks will let you back in depends on the bank's rules. If you search the forum for the specific cards you'll get data points about how long each company makes you wait to get back in. The disney card is going to be a long time. The capital one card might let you in quicker than you think (always try their prequalification first).

Credit karma is credible for the score version they provide. They do not provide the fico 8 which is the most popular score banks use for credit cards. Ive seen the score credit karma provides be greatly different from the fico 8. The credit karma free scores are basically good for keeping track of when things happen on your reports. It helps with fraud monitoring.

The cards they suggest are not as reliable as pre qualifying for the card on the actual bank website. However, neither are a for sure thing.

You will get a major credit card again. Hope is not lost it's just a slow process. Some require years, some require the bankruptcy to be off your report, some require you to pay them back what you owed them that was discharged (not advised that you do this btw) and some will forgive in the blink of an eye. Again, search on here for specific time frames others have shown in their situations. It's always a ymmv situation.

Remember in chapter 13 you have to get permission from the trustee to obtain new debt.
Message 5 of 10
Regular Contributor

Re: New Bank

When you want a certain card search for it on this forum to see data points from other people about when they were successful getting it. It will be a very long while for disney... sorry!

Always try prequalification before applying so you dont use any hard pulls unnecessarily. I'm partial to cap one because they were nice to me with my first card after BK discharge.
Message 6 of 10
Moderator Emeritus

Re: New Bank

Hi @Pinklady11 and welcome to the myFICO forums.


I have combined/merged the other similar threads you started into this one.  Please do not cross-post in different forums or start multiple threads on basically the same subject.  It is confusing to other members trying to assist you and is against forum rules.   Thank you for your understanding and cooperation.



Message 7 of 10

Re: Chapter 13 101

Thank you so much!!!
Message 8 of 10
Regular Contributor

Re: Chapter 13 101

I'm confused - if you filed chapter 13 in 1/19 why are you looking for credit today?  You'll first have to obtain trustee approval before obtaining any credit (until your repayment/case is closed)


I'd highly advise you to speak with your attorney before doing anything 

Message 9 of 10
Frequent Contributor

Re: Chapter 13 101

U not getting another Chase card anytime soon especialy if u included Chse in your BK! Not until your BK falls off of your Reports!

Message 10 of 10
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