Post discharge questions?

[special111]

Well I am seeking a little information. I am hoping for discharge next week, but wondering where to start with rebuild. I know I need to wait a bit to obtan copy of credit report. When these are obtained are most getting them from my fico? I know the annual report doesn't have a score on it. As well I am not in a rush to start rebuild, but we burnt many creditors when filed. For me Usaa amex/citibank/synchrony/discover. For my husband discover/usaa/home depot/kohls.

So not clear if the start would be exactly? And does anyone know how soon after discharge student loans resume payment?

[LadyInTheRed]

I suggest you call the lender and ask how you can start paying those student loans now if you can. They stopped sending you statements because that would violate the automatic stay. But, you will still be in default if you stopped making payments. Bringing and keeping that loan current will help your rebuilding.

You can get your credit reports directly from the Equifax, Transunion and Experian website or at https://www.annualcreditreport.com/index.action which helps you retrieve them from the bureaus. Since you get one credit report free from each bureau per year, I get one report every 4 months. The information on the 3 reports is mostly the same, so if you see something on one that needs to be corrected, you can then request copies of the others.

To start rebuilding, you need to start using credit. Once your discharge shows up on your reports, try applying for a credit card. Barclays tends to be bankruptcy friendly and offers a free FICO score. If you can't qualify for a regular card, you will need to start with a secured card. Your limit will be low. For best results, keep the balance below 10% and pay in full every month.

[brokehmowner]

For rebuilding credit ... ironically we found that the harshest to deal with leading up to bk were the easiest to grant credit after bk -- i.e., Capitol One and Discover. Capital One was our first post-bk card, less than a year after bk. To be honest, we still have very high interest rates on the several cards we have now. But it is not an issue because we NEVER (and I do mean NEVER) charge anything unless we have the money AT THAT MOMENT to pay the bill off. When the bill comes, we pay the entire balance so we have not paid one dime in interest since filing bk. CC's are a way for us to get rewards and to take advantage of deals for store credit card holders. We don't use them for emergencies or any other reason other than rewards.

[kberly69]

I have all the love in the world for Capital One. They gave me a card with a $3K limit less than a month out of discharge (they were IIB) and a car loan for a very decent rate (4.24% for 72 months) 3 months from discharge. You can go to their site and see of you're prequalified without a hard pull.