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    #1

    I hope I have not made a horrible mistake

    I'm trying to rebuild my credit only after one month of 13 discharge. i know i know it's too soon but I went ahead and applied for secured credit cards with bank of america because they are the bank we bank with and we have our mortgage with them. I just hope we get it. they would be taking $300 each out of our savings which we have like $3,000 in and never late with their mortgage which we paid on our own. I know they did a credit check. i don't understand why they would even bother to do that if the money is coming from our account since we applied for the fully secured card. if we don't get this i don't know how i will tell my husband this.
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    #2
    Two possible outcomes: they issue the accounts and a small part of your savings is held in a restricted account. Or they deny, and its not the end of the world.

    I've heard Bank of America is pretty finicky even with their secured product - but your chapter 13 filing is at least 3 1/2 - 5 1/2 years in the past, right? You have the positive mortgage reporting, and getting something going in the way of revolving credit lines seems to be the way to rebuild history. If Bank of America says no - just research other options. And that could have a silver lining: its often recommended to NOT have debt products where you bank.
    ~Staci
    Not an attorney, and never played one on tv. My responses are based on my own experiences & personal opinions.)

    Comment

      #3
      Originally posted by SMinGA2 View Post
      I've heard Bank of America is pretty finicky even with their secured product - but your chapter 13 filing is at least 3 1/2 - 5 1/2 years in the past, right? You have the positive mortgage reporting, and getting something going in the way of revolving credit lines seems to be the way to rebuild history. If Bank of America says no - just research other options. And that could have a silver lining: its often recommended to NOT have debt products where you bank.
      OP is only one MONTH out of a CH13 discharge, not several. My larger concern is that she did this on her own w/o talking it over with her husband. Ideally, a husband and wife should be working together on something like this.
      "To go bravely forward is to invite a miracle."

      "Worry is the darkroom where negatives are formed."

      Comment

        #4
        If the discharge was last month, then payment #36 or #60 (depends on the circumstances) was several months ago. And the FILING was 3-5 years before that. Hence my 3 1/2 - 5 1/2 year range.

        I don't know what the OP has or has not discussed w/ the spouse. Agreed, they should communicate but I don't think this is a marriage counseling forum...

        The bankruptcy filing date has a big impact on credit score, which then impacts credit decisions. A public record in the most recent 2 years is more damaging than one from 3-5+ years ago.

        Originally posted by AngelinaCat View Post
        OP is only one MONTH out of a CH13 discharge, not several. My larger concern is that she did this on her own w/o talking it over with her husband. Ideally, a husband and wife should be working together on something like this.
        ~Staci
        Not an attorney, and never played one on tv. My responses are based on my own experiences & personal opinions.)

        Comment

          #5
          yes we declared chapter 13 dec 2006 has just been discharged in feb and was never late with the trustee payments in 5 years and also have first and second with bank of america payments made by me all on time and never late even before the bankruptcy. been with b of a for almost 25 yrs. thought it was the smart way to do it with them since we have a history with them and checking/savings accounts. credit scores are 637 637 655

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            #6
            Originally posted by AngelinaCat View Post
            OP is only one MONTH out of a CH13 discharge, not several. My larger concern is that she did this on her own w/o talking it over with her husband. Ideally, a husband and wife should be working together on something like this.
            wait wait wait, i did not do this without my husband, he is fully aware of this fact. we talked about it before it was done, how dare you voice an opinion about me and my husband and how we work things together

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              #7
              how dare you be so judgemental who made you judge and jury! you really need to think before you respond.

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                #8
                my last payment on the bk was in sept of 2011 and it took all this time to discharge and it is discharged. i'm trying to build my credit securely

                Comment

                  #9
                  Originally posted by iknowcupid View Post
                  how dare you be so judgemental who made you judge and jury! you really need to think before you respond.
                  I apologize. But I had only the wording that you provided to work with: "if we don't get this i don't know how i will tell my husband this."
                  "To go bravely forward is to invite a miracle."

                  "Worry is the darkroom where negatives are formed."

                  Comment

                    #10
                    i meant i know he will be very disappointed if we don't get it after i said that i thought it was probably the safest thing to do since it was secured and the bank was local instead of being in fifth and jipip! he knows everything, we discuss everything.

                    i'm sorry i even came on here. someone told me about this place to get answers then they told me to be careful because moderators are full of themselves and think they know it all. sorry i even asked

                    Comment

                      #11
                      This Moderator is the fist to admit that she does not know everything. However, I believe that this has all been a misunderstanding. Feel free to ask all the questions you wish. But as with any public forum, you need to be prepared for answers that you may not like.
                      "To go bravely forward is to invite a miracle."

                      "Worry is the darkroom where negatives are formed."

                      Comment

                        #12
                        answers YES, judging others NO! i can certainly accept people's points of view on my "question" my marriage has nothing to do with the question on secured credit cards through bank of america

                        Comment

                          #13
                          Originally posted by iknowcupid View Post
                          answers YES, judging others NO! i can certainly accept people's points of view on my "question" my marriage has nothing to do with the question on secured credit cards through bank of america
                          Unfortunately, we have seen a number of divorces happen here as people move through the bk process and after. We did not search them out. I made an observation based on your words. That is all. There was no judging on my part.

                          This thread has run its course, and I am not discussing the matter any further.
                          "To go bravely forward is to invite a miracle."

                          "Worry is the darkroom where negatives are formed."

                          Comment

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