After 3 years or so the first go-round, then losing my job. Three years go by, I got a better job. 3-1/2 years into a 5 year plan I payed my Ch. 13 off. I received my letter in the mail today copying my employer to cease garnishments and another letter sent to the judge declaring my bankruptcy paid per plan. I worked pretty hard to the hooks out of me. I have been paying cash for things for so long it seems foreign to me to get credit cards. I think that is my next move to begin rebuilding my credit. I am on credit Karma and I see these offers that claim " Very Good Approval Odds". I guess my question is - any advice, thoughts, or questions?
Please forgive me, this is the first forum I have EVER posted to!
If I have not read enough posts or spelled something wrong forgive me!
I don't have my true FICO score/ Credit Karma's version is Transunion 601 and Equifax 640
Hi and Welcome to the forums!
I was in your shoes almost 2 years ago. I'd finished paying off a 5-year Ch. 13 and badly in need of a new car. I had signed up for MyFico subscription a few months before my discharge and was able to get an accurate idea of what my scores looked like. I was in the low 600s on EQ and TU and high 500s on EX.
If you haven't yet checked out the "Rebuilding" and "Bankruptcy" forums, I encourage you to check them out. I gained a wealth of knowledge from those boards.
Order your REAL credit reports from the annual credit report site and make sure that things report accurately. Check the pre-qual sites to see what you might qualify for, credit card wise. I was about a week out of discharge when Capital one, my credit union, and Wells Fargo all approved me for auto loans. At the same time, Capital One also approved me for a $10,000 Quicksilver card (I burned them in BK), which I've treated well ever since.
After being strictly cash for so many years, the temptation to app was there and I did go on 1 big and 1 little app spree. Those sprees netted me some cards I still use well to this day, and also some I regret, so think long and hard about your goals when it's time to app.
It's exciting to finish the Ch.13 plan, even more exciting to get the discharge. But the best is when it finally drops off your reports.
Best wishes on your rebuild and good luck! I'm rooting for you!
@ 2GreenThumbs - Thank you for your kind and encourageing post. I will spend the rest of the week (mornings and evening) reeading through the forum and your suggested sections. Thank you for the advice, I am very excited to embark on the next leg of this journey!