I recently did a buy-out of my Chapter 13. We have not even been closed out yet, we are "awaiting discharge."
My wife and I would like to move back to our hometown of Boston at some point in the next year or two years to be closer to family.
Right now, we have NO credit score (or very low) since the Chapter 13 basically closed it all out. Even the mortgage was included so there was no credit reporting for 2 years.
Now that we are out and we have a new mortgage that WILL be reported....how quickly will our scores get up to the mid 600's? Should we get a credit card (even a pre-paid one) just to get another positive credit line on our credit?
I guess my real question is how long after a Chapter 13 will your credit look acceptable to most lenders, assuming you have positive credit lines going? 12 months? 6 months?
My wife and I would like to move back to our hometown of Boston at some point in the next year or two years to be closer to family.
Right now, we have NO credit score (or very low) since the Chapter 13 basically closed it all out. Even the mortgage was included so there was no credit reporting for 2 years.
Now that we are out and we have a new mortgage that WILL be reported....how quickly will our scores get up to the mid 600's? Should we get a credit card (even a pre-paid one) just to get another positive credit line on our credit?
I guess my real question is how long after a Chapter 13 will your credit look acceptable to most lenders, assuming you have positive credit lines going? 12 months? 6 months?