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The first step is the most important, so, congratulations for taking the step to work on it.
I don't know anything about bankruptcy and have no insight to offer there, but I know others here have great info.
I originally wrote some other stuff here, but realized it's not applicable yet due to the status of the bankruptcy, so rather make you wade through it, deleted it.
Good luck!
Best way to put it. Once you have finished your plan. You will see a score jump. Its a tad premature to gauge what your scores will be once its completed. They may land nicely to where you could get unsecured cards vs vulture secured cards. The FICO bonus for rebuilders is 3 cards and 1 installment. As you know you'll have to get the ok before the DC from the trustee for credit or any money moves. So in year that will be when it can all be figured out where to start the rebuild. For now it would only be speculation what your scores will be in a year.
Once you move, I would join a local CU and start to establish a relationship with them or if possible, join one there now.
Rebuiliding takes time but it will work once you complete it. Also post military employment is your best tool in rebuilding so plan now on what that will be.
Immediately you should start rebuilding with a cap one secured or unsecured cc and make monthly on time payments.When your cc debt is paid, keep cc utilization 1-6% and try to live within your means so their is no cc debt.In the future you will want to establish on unsecured cc as your oldest open cc account and never close it.You are missing credit score points by not having an open cc.GOOD LUCK...
@DIYcredit wrote:Immediately you should start rebuilding with a cap one secured or unsecured cc and make monthly on time payments.When your cc debt is paid, keep cc utilization 1-6% and try to live within your means so their is no cc debt.In the future you will want to establish on unsecured cc as your oldest open cc account and never close it.You are missing credit score points by not having an open cc.GOOD LUCK...
Doesnt work that way. A stipulation in Chapter 13 bankruptcy law states that you are not allowed to increase any debt without receiving the permission of your bankruptcy trustee. If you do apply for a credit card, your bankruptcy payment plan will be canceled and the bankruptcy proceedings will be stopped. Your trustee views Chapter 13 bankruptcy as a serious matter and expects the same from you as a debtor. Bankruptcy courts and trustees will not tolerate abuse of bankruptcy laws relating to state or federal government guidelines. In fact, if you attempt to abuse the law, you may face litigation if regulators perceive an intention for fraud. If this were to occur, you may find yourself in front of a district attorney.
Obviously with permission first.