Do we wait until discharge

[busymom3]

to try and get a credit card to rebuild credit? Our attorney adviced us to get atleast 2-3 as soon as we can, but I didn't think to ask if we should try before discharge. Or do we wait until we start getting them in the mail?

I really want to go ahead and start rebuilding credit. Our debt was no credit cards. It was 2 repoed cars from 2001....... due to job lay off. We had a few medical bills included as well. The day we filed our lawyer told us our score was 618. Just curious how long it will take to rebuild.

[momof5]

If you read below I posted about being approved for an Orchard Bank card while awaiting discharge. They offer you a pre-approval type of process online before you even have to apply and risk a hard pull on your credit report. It worked out well as I was approved for a $300 unsecured card. This might also give a an idea of what you might qualify for elsewhere before you rack up a bunch of hard pulls that lower your credit score.

[Stilltheone]

We're going to be discharged in a few days and I plan on waiting until we fix up our credit reports. I'm *hoping* that by fixing our reports, we'll land into an unsecured card with a limit higher than $300.

Good luck!

[epiphany]

Although people have done it successfully, You are not supposed to aquire any new credit until after your discharge if you are in a chapter 7. If you are in a chapter 13, you need a good reason (like needing a reliable car) and you need the permission of the trustee.

I would wait if I were you. It would be a shame to jeapordize your discharge to aquire one crummy credit card.

I would also think twice about any offers you get in the mail immediately following discharge. There are plenty of BK preditors out there just waiting to pounce on your fresh start.

What's your hurry?

Good luck,
ep

[Flamingo]

You will find that just because one person gets a credit card either after or before a discharge, that does not mean you will be able to. While some companies are BK friendly, it is not a good thing so soon after a discharge to run up numerous inquiries because the majority of the time due to a BK on one's records, you will get denied. It is always best to wait a few months after discharge and then start cleaning up credit reports. 2 - 3 years after a discharge is the norm before one has a good handle on their credit and is able eto get beyond the high interest rates offerred to them by predatory lenders shortly after filing.

Credit and debt is what got you to the position you are in now. Keep that in mind when you think about trying to obtain new credit or loans. Be wise and careful.

[HopeFaith]

Case in point: My Experian score is 584, the others are in the mid-600's... and the ONLY difference I can find is that Experian has 20 more inquiries than the other bureaus. Inquiries can really wreck your score!