Chapter 7 filed on 04-01-15

[gdale6]

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@padme wrote:
Defintely AFTER.. wait for discharge. Then another 30 days or so.. it'll be a happy day

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+1, use the time now to plan your rebuilding course. Good luck OP

[cem13]

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@gdale6 wrote:

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@padme wrote:
Defintely AFTER.. wait for discharge. Then another 30 days or so.. it'll be a happy day

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+1, use the time now to plan your rebuilding course. Good luck OP

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@I have to agree with this strategy.  The problem will be that these "Shark Lenders" are all charging 20%.  They know you are desperate.  The longer you hold out, the better the rate. I was d/c in JUN2011, I bought a new car @ 6.99% in APR2012 then I refinanced it with NFCU at 2.49% in AUG2014.  

Follow the guide "From BK7 to 700 in 24 months"  it worked for me.  I was at 700 at 20 months.  Now I am range bound 700-720 until the BK7 ages off my report.  That is ok with me because I have several high limit CCs, a low interest car loan and refinanced my mortgage through FHA.  All is good with me.  BK7 was only painful for the first few months actually.  It does take a toll on your psyche but it will allow you to change your bad habits.

Patience is the key if you can wait.  Now if you cannot wait because you have a Flintstone Mobile (you know the car that you can see the road throught the floor pan from the drivers seat), then definately buy a very old car and plan to sell it in a few years.  This will be just enough car to get you through the hard times.   Then after a year or so, you can treat yourself to a new car with a great rate.

[Anonymous]

I started fixing my credit as soon as I filed. All my reports were correct before my discharge. My score actually increased 80 points once all the accounts showed 0 and IIB. I don't advise waiting until discharge because the sooner the better. Once you are discharged, then you can start working on obtaining new credit to start increasing your scores. I didnt reaffirm my car so I bought a used 2013 maxima while in chapter 7. My 341 meeting was on Jan. 27, 2015 and my discharge came in the mail April 2, 2015. Almost exactly 60 days after my 341 meeting. I had no assets and no objections, Chapter 7.

[michaels88369]

That's what I was thinking! I want my reports correct before my discharge. I've been borrowing a truck from my fiancés grandpa for 8 months now. The lawyer said I was OK to go buy something now that's why I would like to fix them asap then be able to get something. I don't like waiting around for next 4 months when I can have them showing iib and $0 on all accts.

[Anonymous]

To be honest, my credit reports were fixed within a month. I went and got my car in chp. 7 and my credit scores have been gradually increasing these past two months. As of three days out of bankruptcy, I have my car and approved for 3 credit cards. My Fico's as of yesterday are 595, 595, 600. I am still following the 700 score in 24 months plan.