Post Filing/Pre-Discharge Ch 7 Questions!

[melizuh]

Hi, all. We filed a joing chapter 7 on 02/28/13 and are expecting discharge any day now...havce 2 vehicles that we did not re-affirm and will surrender upon getting approved for financing different vehicles...my questions are:

~What was your experience in getting approved for an auto loan directly after bankruptcy vs. waiting a few months after secured credit card reporting?

~Can I get a secured credit card prior to discharge?

~Anyone know if capital one will approve credit card or auto loan even though they were listed in bankruptcy on credit cards?

Thanks all for any support/oppinions/suggestions. I'm ready to start fresh and keep an open mind.

[scarzy]

I would wait until you guys are discharged to get a credit card or any type of financing.

Just realize that your interest rate might be high if you apply for a car loan.

If I were you, once you get a car loan, get 2 credit cards, PIF, and

watch your scores go up. Then just refinance your car to a lower rate.

Try to join a credit union if you can for both products.

[Royzo]

  My scores are about where your are and I bank with NFCU but not have applied for any of their cards yet.  What is your inome around if you do not mind telling me?

[Guyatthebeach]

You may want to wait to get a secured credit card and car loan until after your bankruptcy discharges. You may want to ask your lawyer or trustee. It can vary from state to state and you don't want to jeporadize your bankruptcy.  Your loan rates are going to very high if you are even able to get a car loan after your casei is discharges. Think about joining a credit union, like Navy Fed, or even a local credit union. I have found credit unions much more easier to deal with post CH7.

Hang in there!!! There is light at the end of the tunnel!!!