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Are Chapter 13's looked at the same as Chapter 7's?

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Are Chapter 13's looked at the same as Chapter 7's?

I have looked at all the BK threads I can find, and most of the time everyone is talking Chapter 7. I have a Chapter 13 showing on my reports (filed late 2014). Do the CC companies treat 13's any differently than 7's? In particular, I am looking at Chase (really want the Freedom and maybe the Amazon), Citi, and Amex. I have a totally clean report outside of the BK with 3 cards (all opened in the last year) and scores in the high 600s. Highest limit right now is 5k and total utilization is under 10%. None of the big 3 were IIB. 

Do any of you have any experience with trying any of the big 3 after a Chapter 13? Any better than the folks with 7's or about the same?

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Re: Are Chapter 13's looked at the same as Chapter 7's?

I was able to get back in with all of those you have mentioned and my BK13 is still alive and well on my report.  I believe that I got in with Chase when they were willing to accept a BK via calling in and speaking to a representative.  I do believe that the window of opportunity for that has since been closed and reports as of late show that it's a no-go with a BK on your report even if they weren't included in your BK.

 

I have several cards with Citi and they were included in my BK13, Amex but couldn't get anything until 5 years post BK filing with them.  I have banked with BoA for over 20 years so I don't know if that made a different with them approving me but I've had 3 cards with them and they are my main banking hub.  

 

Discover hasn't been and issue and have 2 cards with them, PenFed (another window that may have closed) as far as credit cards but they seem to be BK friendly as it relates to auto loans.  Barclays was burned in my BK and they are the only one so far that ain't having it wiht ol Loquat; they politely tell me to kick rocks and don't even bother pulling a report when applying with them (burned them on an Juniper card back in the day).  

 

Burned Wells Fargo for a little in my BK and they've been refriendly as well.  I have the Propel, Cash Wise, and Dillard's Amex with them and have never had an issue.

 

Umm...I think that about covers my spread.  So yes, there is life after BK13 even if it still resides on your report.  But I will say that I was getting a lot of this when lenders were a lot more generous than they seem to be now.  We're seeing a bit of tightening on the approval side and some lenders aren't green lighting as much or as easy as they were say 3-4 years ago.

 

So as most things in this segment, ymmv.  Apply for what you truly want but do a lot of research on this here forum and make an informed and educated decision.  Nothing is guaranteed but you can do a lot to narrow down your options with just a little bit of reading.  

Message 2 of 7
Senior Contributor

Re: Are Chapter 13's looked at the same as Chapter 7's?

If you burnt Barclays, forget it




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Message 3 of 7
Established Contributor

Re: Are Chapter 13's looked at the same as Chapter 7's?

If a bank has a auto decline policy the system will automatically decline you, and it will make no distinction between 7&13. If you call in to recon you might be able to make a case but not for the big 3. The BK friendly thread is pretty accurate in the regard.

The good news is you’re almost at 5 years. iirc Amex was 5 years and Citi was very ymmv. I saw some Citi approvals at under 4 years. Chase is no Bueno...you’re going to have to wait for BK to fall off.

 

My BK is 13. No rejection letter I have ever received referenced the BK type.

BECU | Apple | Discover | Key
Message 4 of 7
Established Contributor

Re: Are Chapter 13's looked at the same as Chapter 7's?

Chase and Citi where automatic denials when I still had my Bk 13 reporting. I never tried to call them to see if I could do anything else. Amex let me in with it still there, but I had not burned them. They did not give me a CLI at 61 days because I still had it. Once it fell off EX, then I did get a 3X CLI. 

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Message 5 of 7
Community Leader
Senior Contributor

Re: Are Chapter 13's looked at the same as Chapter 7's?

From what I have read here, these days Chase is a solid No as long as a BK is on your reports. No distinction was made between 7 and 13 that I read about. Amex is 5 years and a month past discharge - any earlier and they’re a No. I don’t know about Citi.


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Message 6 of 7
Established Contributor

Re: Are Chapter 13's looked at the same as Chapter 7's?


@dynamicvb wrote:

Chase and Citi where automatic denials when I still had my Bk 13 reporting. I never tried to call them to see if I could do anything else. Amex let me in with it still there, but I had not burned them. They did not give me a CLI at 61 days because I still had it. Once it fell off EX, then I did get a 3X CLI. 


Same.  Also a 13 too.   I got the Amex with a good limit ($10K at start), 1.5 years post discharge, but until it fell off there was no CLI.  And the reason was always BK reporting.  I JUST NOW got Chase but its been off my report for a year now, and I only had 1 inquiry in the past year.  That is also important for Chase.  SL was $21,400 which I was VERY please about.   My top 4 are: Amex BCE $30K, Amex Rose Gold no limit,  BOA Rewards $27K, and now Chase at $21.4K     Discharged Dec 2015, Off reports May-June 2018   My scores are all over 800.

 

Bankruptcy is hard.  But its possible to come out on the other side.

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