Does Anybody Wish To Share Their Experience Re-establishing Credit After BK7?

Question:
Does anybody wish to share their experience re-establishing credit after BK7 , like RickF did above? I would appreciate any information as I await mt 314 meeting on the 24th.

Answer:
My husband filed BK about 10 years ago. He said that he immediatly got a bunch of credit cards. I keep telling hm I want to file BK (us together) I really hate trying to get a credit card for emergencies and I can't get one, but I know the minute I file BK I would get a bunch of cards. (Not that I would take them all.) Don't stress yourself too much about the meeting, it should go smoothly so long as you're prepared. I did ours pro se and thankfully didn't really run into any trouble. Then again we walked in with a stack of folders 6 inches thick with just about everything the trustee might possibly ask for! I think he got the hint that I'd prepared as best I could, hehehe. My husband and I got our discharge on our 7 last May. Been working very slowly on the rebuild of credit. Mainly because even though we didn't have much in the way of credit cards to bankrupt (mostly medical bills), we didn't want to push it too hard too fast. Call us gun-shy. :) So far we've just been trying to get our incomes stabilized since I finally got a job last August. However, we did get car and credit card offers out the wazoo right after the discharge. Made very sure not to just jump on any offers. Glad we waited. 6 months after our discharge we got an offer from First Premier for a Gold Card. The fees were a little high ($180 or so) and the limit only $250, but the interest is only 9.9%. There's no way we would've gotten that a year ago! We've just been making one or two small purchases a month (gas and the like) and paying double the minimum ontime every month. Should help the credit rating. Then again our scores were so bad from all the late payments we had pre-bankruptcy that our scores actually went up after we declared. Hubby's car will be paid off by June at the latest (c'mon tax refund!). Since it's in good shape we'll wait till then to buy me a car too. Then we're not stretching to make the two payments and good credit will be a little more established. The biggest problem we've had reestablishing is a few collection agencies that don't seem to want to pay attention to the discharge. I checked our credit reports about 5 months after discharge and they still had not updated to show that they were included. Warning: TransUnion will argue and want you to send them papers showing that particular bill included in the bankruptcy (which of course we never got from the bankruptcy court).





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