A+ on BBB

Community Area

|

Helpful Resources

Community

Popular Discussions

Creditmagic Twitter

Credit on Facebook

Home

Credit Forum

Credit repair

Building positive credit after a BK7

Post reply Start a topic

Author

Message

Options

	Print this topic
	Invite a friend
	Email this topic

Bookmark online

	Add to del.icio.us
	Add to YahooMyWeb

da_mous

Joined: 18 Oct 2006
da_mous's page
Posts: 2

96 Magic Points

Subject: Building positive credit after a BK7

Wed Oct 18, 2006 1:29 am

I filed a BK7 a month ago. The BK hasn't been discharged yet. Is it too early to try to start building positive credit or do I need to wait for the discharge?

mama_2hannah

Joined: 19 Oct 2006
mama_2hannah's page
Posts: 3

177 Magic Points

Thu Oct 19, 2006 2:43 am

I personally would wait until the BK was discharged. Anything prior to the BK, if something went amiss, hypothetically could be attached as an addendum. I knew a man that did this. Rolling Eyes

I wouldn't be surprised if after six months to a year, you started getting offers for secured credit cards, or the ones where pay our one time fee of $250.00......I wouldn't......From my experience it will be a matter of time before Providian, or capital One comes knocking on your door. Watch the interest rate. $$$$$$$ Read the fine print. Legal loansharking IMO, having said all this......They do report to the credit agencies....This is a plus, in a few years, things will even out for you;-)

Richard
Moderator
Richard

Joined: 27 Jun 2006
Richard's page
Posts: 120

5312 Magic Points

Fri Oct 20, 2006 4:53 am

I believe that during the bankruptcy, you are not supposed to apply for any new credit. If you recieve new credit during the bk, I think it is possible for it to affect the discharge.
Reply With Quote
_________________
The more you learn the more you earn. Join our community and enhance your knowledge.

da_mous

Joined: 18 Oct 2006
da_mous's page
Posts: 2

96 Magic Points

Mon Oct 23, 2006 7:56 pm

Hi Mama and Richard, thank you for those replies. I will hold off on applying for anything new just to be safe. I have another question, tho. I recently checked my credit reports and only some of the things I added to the BK show as 'included in bankruptcy' Should I be concerned about that?

Richard
Moderator
Richard

Joined: 27 Jun 2006
Richard's page
Posts: 120

5312 Magic Points

Tue Nov 07, 2006 6:22 am

If you have added those items in bankruptcy, I think the report is just stating what you have included. I feel that there is no harm in it. But yes, if the report would have mentioned anything as "included in your bankruptcy" that you actually haven't added, then only you need to bother.
_________________
The more you learn the more you earn. Join our community and enhance your knowledge.

Quick Reply

Your Name

Subject

Message body


Page 1 of 1

Home|Contact Us|Terms of Services|Privacy Policy|RSS

* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.