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rebuild credit without borrowing?

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    rebuild credit without borrowing?

    Am I able to rebuild my credit rating over time without having to borrow again? I just finished my chapter 7 bk and dont want to ever fall into that credit trap again! So no more credit cards or auto payments, but someday I may need to buy a house and I will need a mortgage then and will need a good credit rating at that time. Does anyone here know if this is possible?
    Thanks

    #2
    In short, no. To get a mortgage you will need to show that you can manage your obligations post BK. IMO even a single credit line will not satisfy this. You will need to show multiple account types (credit cards, auto loans, unsecured loans, etc).
    Filed Ch7 3/6/08 [X]
    341 hearing 4/10/08 [X]
    Last day for Objections 6/9/08 [X]
    Discharge AND Closed 6/23/08 [X]

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      #3
      I agree with sharksfan.

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        #4
        I agree with the others. We just bought a house and we needed three open lines of credit to qualify.
        Yo ho, Yo ho, a pirates life for me
        Discharged 9/1/04

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