New Credit before discharge???

[mycreditisbad]

Hi Everyone-

Our 341 was 10/29 and due to be discharged 12/29 but we are still waiting for it to show up on PACER (No objections that I see)...

We really need a new computer (ours is dying). We also want to rebuild our credit. Our Dell account survived the BK and we would like to put the laptop on this. When would we be "safe" to do this????

Thanks~

[TEW]

as soon as you are discharged.

[FloridaGuy]

Check to make sure

After discharge...

And before you get your hopes up and pick something out, check with the finance company. Someone just posted recently in the forum where a department store card survived (They thought), however when they went to make a purchase it was declined. When the cashier called the card company and let the customer speak with them, it had been decline and the account closed due to their BK. Even though online, it appeared to be OK.

Just FYI.

[carbk]

After discharge...

And before you get your hopes up and pick something out, check with the finance company. Someone just posted recently in the forum where a department store card survived (They thought), however when they went to make a purchase it was declined. When the cashier called the card company and let the customer speak with them, it had been decline and the account closed due to their BK. Even though online, it appeared to be OK.

Just FYI.

Dang that really stinks!

[Flamingo]

Very few zero balance credit cards survive BK and if they do, they can get cancelled out by the creditor at any time thereafter. I had a Dress Barn credit card survive our BK in 4/02 and it was recently cancelled out this past fall due to the Chapter 13 on my record (had it for six years and used it pristinely once in a while). The only thing that will improve your credit after discharge is to NOT apply for a lot of credit because the majority of the time, you will be declined and those inquiries work against you and they stay on your reports for two years. Creditors want to see people be responsible with their credit and if you are recently discharged and try to start obtaining credit again, what picture does that paint? Learn to live a while without the credit and move slowly.

[hereforinfo]

Unless you can pay cash for the computer, don't do it. I can't believe anyone would consider incurring new debt immediately after filing bankruptcy. If you start down that path you will end up right back where you started.