Denial Letters Galore

[robertstapp]

Ok so I filed for Chapter 7 earlier this year and was discharged 6/26/2009. So I have tried to obtain new credit post bankruptcy and have been completely striking out. The denial letters are basically indicating I am being denied due to history of delinquency. I checked my credit reports and it is completely clean. I have no open accounts and everything was closed correctly. Maybe I am confused but can creditors use my past history as a determining factor? I thought bankruptcy gave you a fresh start. I can understand being denied because of a recent bankruptcy filing but to deny me based on old accounts seems odd. What can I do or what do I need to do? Thanks for any help or suggestions.

[kym]

What kind of things are you applying for? Have you tried a secured credit card? Are you trying to buy furniture on credit? Get store credit cards? Are you trying to buy a car? More information may be helpful in getting you some better answers... and not only that but dont keep applying for credit.. all these hard hits make your score go down...

I am sure others will be here to answer you in more detail...

[robertstapp]

I have tried store cards. I have tried Walmart and Sears. I also tried Capital One and Citibank. Hell I even tried Fingerhut. I have not tried Secured yet and partly because I am a little skeptical of it and need to research more about it.

[destitute]

Did you have a history of delinquent accounts prior to the bk? If so those still exist on your credit report and that would have an impact. Also, each application creates an inquiry and the more you have the less your chances are of becoming approved. If you're applying for credit just to rebuild your credit then I would suggest going through your reports and disputing anything that you do not believe is correct. Also, I would think that secured cards would be a good way to go right now. There are a lot of scams out there but I have heard good things about orchard bank and it wouldn't hurt to talk to your existing bank or credit union to see if they offer secured.

[robertstapp]

I did have a history of delinquent accounts before the bankruptcy. All of those accounts were discharged. When I look at my credit report I have 0 accounts and 0 Total Debt. My credit report does still have all of the old accounts that include the delinquent history but they are all closed due to the bankruptcy. Should my credit report not have any of my old accounts listed?

[destitute]

anything before bankruptcy still stays. It should say included in bk and 0 balance but the history stays for 7 years.

[StartingOver08]

OP, one thing you might try is to open a savings account in a credit union. Be very diligent and add funds to your savings each paycheck (10% or more). In just a few months you will have a good balance for emergencies and not need a card. OR if you prefer, you can then use that balance to get a secured card in the same credit union in which you have your account.

[Flamingo]

To the OP - your trying to obtain credit and all those hard inquiries so soon after being discharged is also hurting you. What you need to do is let some time go by. First, the delinquencies prior to you filing BK will be on your credit reports for 7 years. Your Chapter 7 will be on there for 10 years. No one said filing BK was a magic bullet to obtain credit after discharge. You are considered a risk to any lender now due to your BK even though you are debt free. What you need to do is reestablish yourself to lenders by ensuring all your rent/mortgage/utilities, etc. are paid on time and no lates on anything over the next few years. It looks bad that you are continually trying to obtain credit after discharging credit accounts in a recent BK. Think about it...put yourself in the lenders place. Also, with some lenders, once you file BK and incluide them or any subsidiary of theirs (i.e., department store) in your filing, you are basically blacklisted from ever getting credit with them again. Chase is one of them famous for doing that.

Best of luck to you but time is on your side and is your friend in your situation as you will find out.

[Never_Again]

To answer your original question, you need to let time pass.

You are three months post discharge. That is not a very long time. And you have been out credit shopping hard! It does make you look desperate, and a bad risk.

Accumulate a cash emergency fund, and forget about the credit cards.

[pa308]

What you need to do is reestablish yourself to lenders by ensuring all your rent/mortgage/utilities, etc. are paid on time and no lates on anything over the next few years.

What if you didnt reaffirm your mortgage, and they are not reporting?

[UhOh]

Similar to my situation.

I was never late until I decided to BK7. Then I stopped paying while the process took its few months to run its course.

I am eager to start fresh so I went on a mission to get a new card. Orchard and Capital One said no. HSBC (and a lot of store cards also are HSBC so I didn't even try). I was just about to give up and tried the Hooters card. I am not yet activated because of a super review they are doing on me but I have the card, no annual fee, 16.9% (but won't use it that way).

I am not going to lie to you; the "hooters" thing bothers me but the bank they use has enough faith in me to start over. Maybe having a card branded that way will make me even more discreet in using it!

Anyway, try Merrick Bank/Hooters.

[majorwest]

It certainly makes this all confusing when elsewhere we read how, after bk, credit card offers will come flooding into our mailboxes supposedly because now we are debt free, and not eligible to file again for a certain number of years. I guess it really depends on each individual's situation.

[Never_Again]

I will say that I received 3 from Capital One, and have not received any from anyone else. It has been a year.

They all went into the trash anyways.

Stop concentrating on credit offers, and continue to make sound financial decisions. You will be much better off in the long run.