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Credit Card Use Before Discharge

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    Credit Card Use Before Discharge

    Can you use or apply for credit cards before you are discharged? I'm guessing the answer is no. Also, does anyone know how to find a car dealership that extends car loans post-bankruptcy? I've heard that is a good way to rebuild credit and I am in desperate need of a new(er) car. Thanks!!

    #2
    No. You may not obtain or use credit, unless you specifically ask permission, while your bankruptcy is pending. Unless the Trustee has indicated otherwise.

    As for your auto-loan question, I don't know specifically. USBank has been known to make loans to those in active bankruptcy. However, the rates are high!

    You may be able to get traditional financing after you case is closed. This may depend on what your "car credit score" was like before you filed.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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      #3
      Originally posted by nanlit View Post
      Can you use or apply for credit cards before you are discharged? I'm guessing the answer is no. Also, does anyone know how to find a car dealership that extends car loans post-bankruptcy? I've heard that is a good way to rebuild credit and I am in desperate need of a new(er) car. Thanks!!
      No credit card use and no new applications for credit after filing and prior to discharge.

      As for a car loan after discharge, you may want to check this section of the forum:
      Buying a car after BK

      I've read a few threads in that section and it looks like Capital One is pretty BK friendly for post-discharge car loans.

      Good luck and welcome to the forum!
      CH7 Filed 2/26/2009 (no asset)
      341 Meeting 4/7/2009
      Discharged 7/10/2009
      Closed 7/28/2009

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