DISCHARGED!! NEXT MOVE?

[Anonymous]

Thank you for the tip, Nettie.  I will sit on it for a while.  My discharged just showed up on Experian this morning, so now all 3 CB are reporting the discharge.  I will sit on it for a while.

[Anonymous]

I was approved with Credit one for CC yesterday.  All my bureau's are clean.  I disputed what I needed too online, and they were extremely fast in clearing them.  Experian took a couple extra days, but all reporting good.  Because of that, I pulled the trigger on Credit One.

I am going to try to pbtain a auto loan in a couple weeks.  I have a fairly large down payment, so hoping financing 3-4k without a problem.  We shall see.

[Anonymous]

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@Anonymous wrote:

Yes, I imagined it was going to be difficult, but didn't imagine 23+%.  I have some cash saved.  I thought maybe if I put a big enough chunk of change for down payment to show my interest, that perhaps I could finance maybe 2-3k of the loan at a cheaper rate.  I am not sure what I am going to do yet.  After reading all the positive posts about obtaining financing after discharge, and seeing some of the rates folks were getting, I thought maybe I had a better chance than what Carvana offered.

I did a prequal through Capital One, but denied.  They were IIB.  2 cards with small balances.  $500<

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At the moment, you don't really have many choices, other than paying ~ 23% interest, or waiting until your scores improve, or a combination of both.

Given where you are currently at, I would recommend reading these two threads for future benefit and planning.

Credit Unions are an incredible gift to Human Being & Rebuilders, and there are so many, and so many different kinds available.

Secondly, the BK Friendly thread  will also enlighten you to vendors who are open minded to those of us who are either Rebuilding or in a challenging situation.

Best Wishes!!!!!

Official Credit Unions Guide
http://ficoforums.myfico.com/t5/Credit-Card-Applications/Official-Credit-Unions-Guide/td-p/4768788

Bankruptcy Friendly Credit Cards
http://ficoforums.myfico.com/t5/Bankruptcy/Bankruptcy-Friendly-Credit-Cards-Pt-2/td-p/3999737

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[Anonymous]

I am getting decent results so far!!  Capital One approved me for a car loan at 13%. I purchased a used 2012 Kia Soul with low mileage.  I love it!  It was under 10k, so my payments arre affordable.  The interest rate was still fairly high, but I expected it to be between 11-15% so 13% was decent to me.    They also approved me for a QS credit card at $500 CL.  It is a start.  Also a Credit One CC at $300.  So, at this point, I will most likely do some gardening for about 5 months and hit the love button with Capital One.  My goal is to acquire a Discover Card.  I have always wanted one, but was never successful.

BTW Capital One was IIB for 2 small balance cards for a total of about $900 I beleive, so I was really shocked at any approval afforded me

I think I am off to a fantastic rebuild.

Cheers to a clean slate!

[Anonymous]

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@Anonymous wrote:

I am getting decent results so far!!  Capital One approved me for a car loan at 13%. I purchased a used 2012 Kia Soul with low mileage.  I love it!  It was under 10k, so my payments arre affordable.  The interest rate was still fairly high, but I expected it to be between 11-15% so 13% was decent to me.    They also approved me for a QS credit card at $500 CL.  It is a start.  Also a Credit One CC at $300.  So, at this point, I will most likely do some gardening for about 5 months and hit the love button with Capital One.  My goal is to acquire a Discover Card.  I have always wanted one, but was never successful.

BTW Capital One was IIB for 2 small balance cards for a total of about $900 I beleive, so I was really shocked at any approval afforded me

I think I am off to a fantastic rebuild.

Cheers to a clean slate!

 

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Very nice! Congratulations on the new car.  You're making great progress.  Gardening definitely seems like a good idea now considering you have a new installment loan and two credit cards. In a matter of months you may be in position credit wise to refinance that car into a more favorable interest rate.