2007-03-27 12:51:18 · 3 answers · asked by sam15 1 in Business & Finance ➔ Credit
That's sort of what happens when you file for bankruptcy. Creditors aren't going to trust you to pay your bills for a while because you've already proven that you don't.
I'd stick with that secured card that you got for a while. Pay all the bills on time every time you use it. Once you establish a payment history, you'll start to become trustworthy again. But don't expect it to happen overnight. It's going to take a couple years. Plus, the bankruptcy stays on your credit report for 10 years so that's going to keep your score down for a while longer. You can work on getting it up though by paying bills on time and don't go into debt again. If a credit card company looks at your credit report and sees that you have been applying for a bunch of different credit cards, it's like a red flag so stop applying for a while and stick with the one card you have.
2007-03-27 12:59:29 · answer #1 · answered by Faye H 6 · 1⤊ 0⤋
I filed Chapter 7 and it was discharged back in December. I just got a credit card, although it has fees that a normal card wouldn't have and it has a much smaller limit...which is good. I'm actually glad of that. It is to help start repairing my credit. Ch. 7 stays on your credit report for 10 years so you are going to have problems getting credit...for home loans, credit cards, a car loan, etc. I'm not sure exactly what your question is, but you're going to be considered a "bad risk" for a few years after filing. All you can do is start rebuilding your credit after your case is discharged. It'll take awhile, but you'll eventually get there.
2007-03-27 20:02:05 · answer #2 · answered by First Lady 7 · 0⤊ 0⤋
Sweetie, I feel your pain - we did a Chapter 7 a little over a year ago.
Check out the link below. You don't need to post there, or even join, if you don't want to, but read everything you can. They list lots of bankruptcy friendly places that will give credit, and they also hint at what your credit score needs to be to get it. That way you won't mess your credit up by having too many inquiries..
Good luck!
2007-03-27 20:09:51 · answer #3 · answered by AngelaTC 6 · 0⤊ 0⤋