Posted on: 21st Sep, 2012 12:29 am
i received a discharge from chapter 7 bankruptcy in oct 2009. i had no idea about rebuilding credit and though that i will never qualify for any credit. recently, i was approved for a secured card with cap1 and wells fargo ($500). i have applied like an for every unsecured loan and card and have been denied left and right. so, is there any other place i can try and get credit? the good things on my credit are a recent car loan for $9200, several student loans that are deferred until i finish school in a couple years, and a small personal loan for $495. all of those are paid on time, no issues there. any suggestions?
Hi Billijinny,
I think you should wait for 1 year more and then start applying for a mortgage or any other type of credit. After 4 years of Chapter 7 bankruptcy discharges, there are chances that you may qualify for credit. In the meanwhile, you should take steps in order to improve your credit.
Thanks
I think you should wait for 1 year more and then start applying for a mortgage or any other type of credit. After 4 years of Chapter 7 bankruptcy discharges, there are chances that you may qualify for credit. In the meanwhile, you should take steps in order to improve your credit.
Thanks
Welcome Billijinny,
You can contact the local credit unions and check out if they can help you in this regard. However, if you want to get a loan from them, then you will have to be a member of that credit union.
You can contact the local credit unions and check out if they can help you in this regard. However, if you want to get a loan from them, then you will have to be a member of that credit union.