Credit before discharge?

washington12 · ‎07-14-2018

Just curious about this. I had my 341 meeting, and was told if no one tries to object i'll be discharged in 2 months. Is it not advised to get one of those no credit check secured cards?

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pizza1 · ‎07-14-2018

I wouldn't advise trying for any cards until after your DC, and your reports reflect your DC. Some may say too that "others" have done it and it's ok, but I personally wouldn't risk it. Just wait...Plus, lenders like to see that your reports reflect the DC, not just that it was filed.

CH-7-Mission-Accomplished · ‎07-14-2018

I got my OpenSky secured card after the 341 meeting but before discharge and I'm glad I did. I also opened a share secured loan the day after my 341 meeting. My lawyer said no problem and it gave me a jump on things and something to do. There is no duty to report new debt incurred during the pendency of a Chapter 7 bankruptcy. This is not the case in a chapter 13 where trustee approval is required for any new debt, secured or unsecured.

washington12 · ‎07-14-2018

Thank you for your advice!

Starting Score: 539eq 482tu 509ex
Current Score: 539eq 482tu 509ex
Goal Score: 650eq 650tu 650ex

Take the myFICO Fitness Challenge

pizza1 · ‎07-14-2018

@washington12 wrote:
Thank you for your advice!

You will get people say wait, and some that say its no big deal and they got cards right after their 341. I guess Im the "play it safe" route type, where I wouldnt want to jnyx anything, lol. But, you do what you think is right and best for you.