Bankruptcy & Foreclosure

[Juls]

I was wondering if any of you were able to get credit cards after discharge of your BK with your credit report showing a foreclosure and bankruptcy?

Our home foreclosed in June and we filed bankruptcy in September.

Thank you,

[Flamingo]

I can tell you one thing that was relayed to me by higher ups in the credit, banking and financial industry that having both a foreclosure and bankruptcy, or a repossession and bankruptcy, on one's credit report, is worse than just bankruptcy. There is no guarantee for anyone after discharge even with just a BK on their credit reports of getting a credit card. You may have to take longer than most to reestablish yourself as creditworthy but again there is no guarantee.

[Amy26]

I surrendered my property in my bankruptcy... so it will not show a foreclosure and yes I was able to get credit.

[TroubleinCalif]

1 year after bk with foreclosure, A Cap 1 credit card, and a new 2009 Ford Fusion @ 9.99%.

[Juls]

Just an update for anyone else who has chapter 7 and foreclosure.

My husband and I both receive in the mail pre-approval from Credit one bank for a unsecured cc with a enrolment fee of $69.00 and an anual membership fee of $69.00 (billed at $5.75 per month) the offer was due to expire today.

So we thought long and hard and decided to give it a try since we know that it will start our credit up to be able to purchase a new home in 2 years.

We each (husband and I) were approved with a $300.00 limit.