I have one more payment before my chapter 13 is finally discharged. My credit score went from 585 right after filing to 629 today. For some reason it went down 12 points in the last 3 months, but I have no idea why.
Luckily my car lasted "almost" for the entire three years and I just recently donated it. Since I take the bus to and from work and get my groceries delivered I have been able to do without a car. Grocery delivery is a about 15% more than going to the store but a lot cheaper than a car note and insurance. It has been heaven just using cash and not having to worry about credit card bills coming in the mail. If I go shopping there are no "consequences" afterward.
I will need a car eventually though because not having one really limits me. At this point I think that with my credit score I would have a really high interest rate so I am interested in what the best way to raise my credit score would be. What would my score need to be in order to get a decent interest rate on a car loan.
What is the best practices when trying to rebuild credit after a Chapter 13. I never want to be in the position of having to file for bankruptcy again so I'm not interested in getting a lot of credit cards but I'm assuming I will have to get one or two and use them regularly (and pay them off) to raise my credit. Do purchases that are small like $10-$20 count when trying to repair credit or do you need to make larger purchases.
Any advice?
Luckily my car lasted "almost" for the entire three years and I just recently donated it. Since I take the bus to and from work and get my groceries delivered I have been able to do without a car. Grocery delivery is a about 15% more than going to the store but a lot cheaper than a car note and insurance. It has been heaven just using cash and not having to worry about credit card bills coming in the mail. If I go shopping there are no "consequences" afterward.
I will need a car eventually though because not having one really limits me. At this point I think that with my credit score I would have a really high interest rate so I am interested in what the best way to raise my credit score would be. What would my score need to be in order to get a decent interest rate on a car loan.
What is the best practices when trying to rebuild credit after a Chapter 13. I never want to be in the position of having to file for bankruptcy again so I'm not interested in getting a lot of credit cards but I'm assuming I will have to get one or two and use them regularly (and pay them off) to raise my credit. Do purchases that are small like $10-$20 count when trying to repair credit or do you need to make larger purchases.
Any advice?
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