- We filed Ch7 asset case ($3k from a tax return we had to write a check for) in 1/11.
- Were discharged 5/11.
- We didn't reaffirm 1 vehicle and we did the other. 2 months after discharge, we traded-in our reaffirmed vehicle and purchased a new vehicle at decent rate (not pre-BK low, but not 20% and still a much lower payment than we had before, with the bonus of it being new and in better running condition). Financed through GM Financial.
- We avoided all credit card offers that were secured.
- Approx 15 months post-discharge, we applied for an unsecured card (Cap One) and got it at a very good rate with no annual fee and rewards. Limit will go up every 6 months with on time payments (we pay it off each month and only use 10%).
- We also moved and were able to rent a very very nice condo through a large corporate rental group with no issues.
We are currently in the process of cleaning up some discrepancies on our credit reports, but our FICO is already 100 pts higher than it was pre-BK. We also just paid cash for a second vehicle and are in the process of paying off the first faster and saving for a down payment on a home in a couple more years.
I found so much hope browsing the forums here and just wanted to share our story to give others hope. Don't give up or get down. We did it and so can you...bk isn't the end of the world, even though it may feel like it!
- Were discharged 5/11.
- We didn't reaffirm 1 vehicle and we did the other. 2 months after discharge, we traded-in our reaffirmed vehicle and purchased a new vehicle at decent rate (not pre-BK low, but not 20% and still a much lower payment than we had before, with the bonus of it being new and in better running condition). Financed through GM Financial.
- We avoided all credit card offers that were secured.
- Approx 15 months post-discharge, we applied for an unsecured card (Cap One) and got it at a very good rate with no annual fee and rewards. Limit will go up every 6 months with on time payments (we pay it off each month and only use 10%).
- We also moved and were able to rent a very very nice condo through a large corporate rental group with no issues.
We are currently in the process of cleaning up some discrepancies on our credit reports, but our FICO is already 100 pts higher than it was pre-BK. We also just paid cash for a second vehicle and are in the process of paying off the first faster and saving for a down payment on a home in a couple more years.
I found so much hope browsing the forums here and just wanted to share our story to give others hope. Don't give up or get down. We did it and so can you...bk isn't the end of the world, even though it may feel like it!
Thanks to everyone here!
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