Looking for help!

[calco86]

Okay I am done with the 341 meeting and now just waiting for the discharge. I am wondering a couple things for the future.
1. How do I get my credit score out of the mid/low 500's?
2. How do I fix my credit reports?
3. How did other people rebuild credit?
4. My car just broke down, how do I get another once bankruptcy discharge is done...

Thanks for the help, I am not looking for critisum.

[keepmine]

I'm of the opnion that credit scores are pretty meaningless with a brand new bk on your credit report. Many lenders won't touch you for some period of time after your discharge regardless of your credit score.
The only way to raise a credit score is just making on time payments in the agreed amount post bk.
I'd not rush out and get a subprime card loaded with fees. You might try HSBC. About 3 months after my discharge I got one with a $2K limit and no annual fees. The rates are nosebleed so you don't want to carry a balnce.
As to the car-is saving money to buy something just to get from "A to B" an option?
If you need financing, try your bank or a local CU or, try Cap 1's blank check program.

[tcreegan]

Hi calco,

Before you monkey w/ credit reports, wait a few weeks after discharge, sometimes things take awhile to end up on credit reports.

1. How do I get my credit score out of the mid/low 500's? see #3

2. How do I fix my credit reports? ...get a copy of your reports from Equifax, Experian, and Transunion. You can go online to their websites or go to a site like www.myfico.com Look it over and make sure any acct that has a negative notation (late, charged off, etc) gets notated 'included in BK' w/ a zero balance. If you stayed current (and not late) on mortgage or car loan, see if they are reporting. If not, ask them to start reporting again. Judgements are bad, if you have any get them vacated and then try to get it removed from your credit report, or at least notated, vacated, satisfied, something positive. To get things changed use letters and be very, very persistent.

3. How did other people rebuild credit? ...pretty basic, hunt around for credit cards w/o tons of fees, charge a little every month and pay the whole balance b4 the finance charge kicks in. If you get a car loan, never be late. Some local companies might extend credit, same thing, buy a little each month and pay it off. Of course, cleaning up your credit reports will help, possibly a lot..

4. My car just broke down, how do I get another once bankruptcy discharge is done... ...if you can, save up and get a good used car. if not, you should be getting offers from car dealers, sometimes right after you file, you will pay a heavy interest rate so plan on refinancing. Before you step foot on a car lot, research online to find out interest rates you should expect, then figure out what payment will fit comfortably in your budget, use a loan calculator to figure out a loan amount. Then go to car lots and when the salesman says 'what would it take to get you in this vehicle today' you say 'this price and this interest rate'

Good luck, hope your discharge comes soon!

Tom in Colo