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I didn't; this sounds bizarre.
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It depends...
Regarding CapitalOne...- I applied for my 1st CapOne card (Quicksilver) less than a year after my discharge and got a $3,000 starting limit.
- I applied for my 2nd CapOne card (SavorOne) several months after my bankruptcy fell off my reports and got a starting limit of $
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I just looked at the "Purchases" interest rates of all of my cards, here they are ranked from lowest to highest:- PenFed Platinum Rewards: 17.99%
- CapitalOne SavorOne: 26.99%
- TDBank TDCash: 28.24%
- Chase Sapphire Preferred: 28.24%
- Chase Freedom Unlimited: 28.24%
- CapitalOne Quicksilver:
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My PenFed card has the purchase APR at 17%; oddly enough it is by far my least used card these days (only one small charge over the last 12 months)....
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The other side of the coin is 30% is pretty typical these days, that and if you keep it paid off, then the interest rate is irrelevant, even if it was something like 75%.
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Your attorney is the most appropriate next step; contacting the Trustee will most likely get you directed back to your attorney.
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Asking for a CLI varies by financial institution; some have fixed time frames for asking, some don't. Some hit you with a hard pull on your credit, some don't. Some do auto-CLIs (unrequested CLIs with no hard pull), some don't.
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That's more of a question for your attorney; for some plans, yes, for other plans, no.
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There is no way any of us could suggest what your payment might be with any accuracy. It could be $1.00 per month, it could be $900; that will be for you, your attorney, and the Trustee to hash out.
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Talk it over with your attorney, the job of your attorney and the Trustee is to make you successful in getting through a Chapter 13; it won't be fun and there won't be a lot of spare cash, but it should be manageable.Last edited by shipo; 11-10-2023, 04:39 AM.
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It depends upon your definition of "recover". The fact is, you can buy a car not long after your discharge, but you will be on the hook for a high interest rate. As for a home, there are lots of guidelines on getting a mortgage after a bankruptcy, assuming a Chapter 7 here, as a general...
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