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?
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. :roll:
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. $$$$$$$ Read the fine print. Legal loansharking IMO, having said all this......They do report to the credit agencies....This is a plus, in a few years, things will even out for you;-)
I believe that during the bankruptcy, you are not supposed to apply for any new credit. If you recieve new credit during the bk, I think it is possible for it to affect the discharge.
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Hi Mama and Richard, thank you for those replies. I will hold off on applying for anything new just to be safe. I have another question, tho. I recently checked my credit reports and only some of the things I added to the BK show as 'included in bankruptcy' Should I be concerned about that?
If you have added those items in bankruptcy, I think the report is just stating what you have included. I feel that there is no harm in it. But yes, if the report would have mentioned anything as "included in your bankruptcy" that you actually haven't added, then only you need to bother.
I personally would wait until the BK was discharged. Anything prior to the BK, if something went amiss, hypothetically could be attached as an addendum. I knew a man that did this. :roll:
I wouldn't be surprised if after six months to a year, you started getting offers for secured credit cards, or the ones where pay our one time fee of $250.00......I wouldn't......From my experience it will be a matter of time before Providian, or capital One comes knocking on your door. Watch the interest rate. $$$$$$$ 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;-)
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
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?
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.