When to rebuild credit?

[juststupid]

Not that I really want a credit card, but we do want to rebuild our credit and buy a house in a few years. I just don't know when to start.

We have been paying with cash for over a year. Since we stopped paying the credit cards.

So if we're going to get another credit card, when would we do this?

[emoney]

There is no time like today. Without good credit you may pay more for insurance and other products that you need to buy everyday.
For example with most major bank credit cards your normal one year warranty is exended by another year without any cost.
I hope some of these reasons are enough to get you started today.
regards,
emoney

[juststupid]

Can I get a credit card now? We aren't even discharged. Of course obviously I wouldn't use it until we were discharged.

[SinkingFast]

We got CC's before Discharge. Accidentally. Kinda sorta.

We got "pre approved" offers in the mail. We were a month out from Discharge so we applied for 1 each. Got approved. Figured it would take a couple of weeks or so for the cards to arrive in the mail. Wrong. They came within days. So there we were, with nearly a month to go to Discharge, with new CC's.

We put the cards away and did not activate them until after Discharge.

[FilingOnMyOwn]

Q: When to rebuild credit?

A: ASAP (within reason)

I see from your sig you just barely had your 341. So for now, you can start pulling your reports and planning your disputes. Doing research and whatnot. That way when that discharge comes, it will be the time and you will be ready. It pays off in a big way.

[juststupid]

Q: When to rebuild credit?

A: ASAP (within reason)

I see from your sig you just barely had your 341. So for now, you can start pulling your reports and planning your disputes. Doing research and whatnot. That way when that discharge comes, it will be the time and you will be ready. It pays off in a big way.

All the things that are included in our bankruptcy that are on our credit reports are saying included in bankruptcy. Which is nice because it made my credit score jump from 500 to 576. hehe.

But thank you all for the answers. I guess we will start rebuilding as soon as we get a discharge.

[BKer]

Q: When to rebuild credit?

A: ASAP (within reason)

I see from your sig you just barely had your 341. So for now, you can start pulling your reports and planning your disputes. Doing research and whatnot. That way when that discharge comes, it will be the time and you will be ready. It pays off in a big way.

This is exactly what I did -- great advice. I even started challenging items to be sure it stated IIB, zero balance, etc before we got the discharge. For the first year, I pulled credit reports every month, now I pull every 2-months. Eventually, I will loosen up on myself and pull every 3-months! It's been 20-months since discharge. My scores have gone from the 570's to 686. Wifey has gone from 570's to 710. We saw the biggest jump about 6-months post-BK.

[tradewiz50]

Wait till your discharged. If your filing get selected for review by the Trustee. He's gonna ask why the hell are you getting new credit while in a BK.

[juststupid]

Thanks everyone. Definately don't want to pique the Trustees interest with new credit before discharge. We will definately wait until after.

BKer, I hope our scores go up to the high 600's or even 700's. That would make buying a house a little easier when the time comes.

[oretnom1]

yeah, you should start getting inundated with "pre-approved" cc offers as soon as you get your discharge. Read each carefully though as some of these companies target desperation and have all kinds of fees such as account setup fees, annual fees and others. Be careful what you wish for as you might get it - and then some!