Putting reason for bankruptcy on credit report

[Anonymous]

My credit report shows no late payments and just the bankruptcy.  A little odd but correct.  I was disabled and had a drastic decrease in income and was going to be unable to keep up the payments.  Should I put the reason for the bankruptcy as disability to explain the reason for bankruptcy or will that hurt my chances for future credit.  (I do have other sources of income.)  Note:  SS already appears as employment.

Fortunately, I have already received a credit card at 8.99% with a 7000.00 CL.  So there is hope out there if you have filed bankruptcy.  You don't necessarily have to get a secured card.  Just depends on your FICO score.

[Anonymous]

Hi, If you don't mind me asking, how long ago did you file and what are your fico's at? I'm going to be discharged at the end of March so I will be going into rebuild mode by applying for a rebuilder card.

[Anonymous]

I was discharged in 5/2005.  TU 718.  Equifax 694.  I haven't checked Experian. 

I was fortunate to get the first account at such a good APR within a year of the bankruptcy.  They sent me the application.  I plan to apply for another credit card within the next year when I get another good app with a good APR where they approach me. 

I also pay off the account I have monthly and never let the utilization get above 25%.

I also had a call from Toyota Motor Credit (a special bankruptcy division) wanting me to buy a new car.  I did not take them up on their offer.  Do not know their terms.  They just took my info over the phone and said I qualified for a new 2007 Camry.  Note:  I had bought two cars from them and paid I-1 (including one reaffirmed in bankruptcy).

There is hope at the end of the bankruptcy tunnel. 

Good luck in the future.

Message Edited by goingforward on 02-25-2008 05:47 PM