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What now?

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    What now?

    FICO has gone up 50 points since my discharge over a month ago (CH 7), but is still only 540. As a renter, I need to rebuild asap so that I can move if it gets too expensive here.

    I heard that offers start coming in after discharge, but that has not happened for me, probably because I am lower income.

    I have opened a secure CC with Open Sky, but got denied for qualification for a secured card (it was a soft pull, I think it was Credit One or Indigo, I can't remember).

    I don't like the idea of credit builder loans because mandatory payments are stretched out over 24 months (seems like a long time).

    Should I just sit tight for now?

    I would sit tight until you are at 6 months post discharge (181+ days).
    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.


      Have you been paying rent, or building up debt from the COVID rental moratorium? You would have to wait another 8 years to file for Chapter 7 to remove that moratorium debt.


        No, I have never been late on rent. But I am lower income, so my only hope as a renter is to re-establish my credit. Some folks can get a place because of their higher incomes, even if they have bad credit. But bad credit + low income = potential homelessness.

        I would like to at least get it to 650.


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