So happy

[nosaint]

I got my discharge paper work today!!!(discharged feb16th) It came along with an orchard bank credit card off and a pre approved AT&T phone offer(a company I BK'd on). These are the first two credit offers I have received in a very long time. Do not care about those, just found it entertaining they all come on the same day..

finally there is a light at the end of the tunnel. The past ten years have been rough. Layoff, went back to college, divorce, shattered ankle with no insurance blah, unplanned child, it just goes on and on. I tried unsuccessfully for the last two years to fix my mess, but It was over whelming to say the least. I did not want to do BK, but it eventually seemed to be my only option. It was a savior and I pray I never have to do it again.

I kept a small credit card which was current for about 2 years and my student loans obviously, which also were current until I filed and they quit taking my payment. So I will be coming out with two current payments to help establish my credit. I had planned on just using those two things for 6mo's to a year to prove I have changed.

Now for the unforeseen problem. I had to sell my car that was paid for. Mechanical prob's that lead to me not being able to inspect it, and the repair costs were to much to fix. Never buy a fixer upper saab.

I had not planned on getting any credit this soon, but it is looking like i may have to try. Every time I find a decent car that it is affordable it gets sold before I can get to it. I do not want another junker like the one I just had. Only looking to spend about 6-7000 max. I have a down payment of 3000.

I figure if I can get a car loan like that, along with my credit card and student loans I should be able to straighten the rest of my mess out.

I'm not really asking anything. Just wanted to share this with some people that can relate. Or if you are on the edge of going b-rupt and can't decide, maybe this will inspire you to take the first step. It was a relatively quick process and surprisingly "easy" considering what was achieved. If you are at the point of considering b ruptcy your credit score is probably already shot anyway.

It took me years of considering and trying to realize It was pointless for me to keep going on as I was.

[chicagoannie]

Hey nosaint - congratulations on your fresh start!

Now, please consider sticking around and letting us know how things go from this day forward.

Hehe...we must be on the same mailing lists - I also received the AT&T phone offer.

[nosaint]

Hey nosaint - congratulations on your fresh start!

Now, please consider sticking around and letting us know how things go from this day forward.

Hehe...we must be on the same mailing lists - I also received the AT&T phone offer.

I will. I just found this forum over the weekend. It would have been nice If I had found it sooner. A lot of helpful information around here.

I have one major credit plan. Use as little as possible to maintain a good rating and so I can always get a decent car. I don't ever want to have to deal with what I have been for the last many years.

[wipetheslate]

Congrats!

The Orchard Bank secured card was mentioned in a recent NY Times article on reestablishing credit. It requires as little as $200.

I need a credit card as it will save me money. Quarterly I go for medical checkups & a taxi costs over $100 whereas a rental car, which requires a credit (not debit) card, is $30. But I don't want to get a total rip-off card.

And then I saw the article on Healing a Wounded Credit Score.

It will obviously be hard to get a traditional credit card when you have a poor credit history. Secured cards, if used strategically, can help nurse your credit back to health more quickly. These cards require you to put a set amount of money in a bank account, say $250 or $500, which is used as collateral. And the amount of available credit should be equivalent to the amount on deposit.

“What is the most predictive and powerful in your score are the things you’ve done most recently,” Mr. Ulzheimer said. “That cuts both ways. If you add a secured card and you pay it religiously and the balance is low, it will help your score a lot more quickly than if you do nothing.”

But read the fine print before signing up. Consumer advocates said some unscrupulous card issuers have charged the security deposit to the card. And be sure the issuer reports your payment information to the big three credit bureaus, since not all do.

Curtis Arnold, the founder of CardRatings.com, recommended two cards, both of which report payments to the big three: the Orchard Bank Secured MasterCard, which has an attractive interest rate of 7.9 percent, waives the annual fee in the first year and charges a moderate $35 annually thereafter. He also likes the Citi Secured MasterCard, largely because it offers an interest rate on the security deposit equivalent to an 18-month certificate of deposit, which he says is an industry first.

[chicagoed195]

good luck with the car search