Life after a chapter 13 bankruptcty

[meka1922]

Hello

I am 2 months away from being done with my chapter 13 bankruptcy and have so many questions.....will my credit score go up? I have a car loan outside of bankruptcy and i owe 8000 left on it with 130000 miles and now in need of a new car, trustee approved me to get a new car but cant get approved due to miles and money owed still on loan. Will i be in better shape once out of the bankruptcy? Will I be able to get credit again? lots of questions....very nervous and scared.

[mynameainttracy]

My ch13 was completed and discharged about 1.5 yrs ago. I didn't watch my credit reports and scores while I was in the plan so I don't know if my scores jumped on discharge but my guess is that they didn't because the public record is still there and that seems to be the killer, not the status of it, but I could be totally wrong. 

Do you know what your scores are now? Mine are still mid 600's and even though I have worked to get new trade lines and build a positive payment history they don't look like will budge until the 13 completely drops off my CR next year. I have heard when that drops you can expect a 60+ pt jump.

I wouldn't think you would have a hard time getting a car loan but the interest rate may suck. 

[meka1922]

Wow! Really. have you gotten any credit since being out of it, and if so which kind of credit or credit cards. I noticed you said it will drop off your credit report??? So you have been out of the bankruptcy for 1.5 years and it will drop of your credit in another year??? So how long does a 13 stay on your file? I thought they stay on for 10 years?

im confused...

[mynameainttracy]

7 years from your filing date and it falls off. CH 7 is 10 years.

I bank with NFCU and got a credit card through them a couple of years into my plan, then I was approved for a care credit card while still in the plan. Post discharge I have gotten Capital One, Barclay's and Credit One.  I don't need or want them but NFCU wants me to have more open trade lines to prep for a mortgage. 

[TRC2k13]

Yes there is life after Ch 13.

Mine was discharged in May, and you can look at my sig for the accounts I have opened over the  last 8 months.  The car loan was the first thing I got post discharge.. at a bad (8.9%) interest rate.

I will be refinancing it soon with my credit union (BECU) to get a better rate.  I'm in the door with them now... I started with small credit cards and they gave me a Rewards Visa a couple months ago...

Just be patient... things will work out!

[Creditaddict]

---

@meka1922 wrote:

Hello

I am 2 months away from being done with my chapter 13 bankruptcy and have so many questions.....will my credit score go up? I have a car loan outside of bankruptcy and i owe 8000 left on it with 130000 miles and now in need of a new car, trustee approved me to get a new car but cant get approved due to miles and money owed still on loan. Will i be in better shape once out of the bankruptcy? Will I be able to get credit again? lots of questions....very nervous and scared.

---

so you have been very proper and actually have NO credit, just the car loan?

Who is the car loan through?

How much is the car worth?

What kind of money do you have (cash)