New but almost finished

[Semigh]

Hi everyone! We have been in a Chapter 13 bankruptcy for five years and are about to end it. I wish I would have known about this forum before but I’m happy to be able to read everyone’s experiences so far anyway.

[shipo]

Congratulations Semigh, you're way ahead of me, I didn't find this place until after my Chapter 13 discharge, and I made lots of mistakes because of it.

What are your plans for post discharge? Are you:

• Looking to go forward on a cash only basis?
• Looking to go forward on a cash only basis except for cars and mortgages?
• Or are you looking to dive back into the full spectrum of the credit world including cards, unsecured loans, cars, and homes?

Regardless, there are folks here who can help you avoid the pitfalls many of us, me especially, fell into.

[Semigh]

Thank you shipo! Our attorney advised us to apply for a credit card right after we filed for Chapter 13 (as well as changing banks, as he said it was likely our bank would close our account after it got notice of our bankruptcy - we had a credit card with them). We have an $850 limit on it, and have used it regularly throughout the five years in Chapter 13, paying it off every month. About 2 years in, the credit company raised our limit automatically, and we contacted them to tell them to set it back to the original limit, which they did. The last three months, they have continued to offer us an American Express card. Craziness.

Any credit that we use, we intend to pay off each month, just as we have the last five years. I want to AVOID building any consumer debt. The only loans we may have ahead would be a home improvement loan, a new home loan if we have to move, or a car loan if we buy a new one in the next five years or so. Our bank tells us - without our even asking or any indication of interest on our part - that we are pre-approved for a $30,000 auto loan already. Always ready to help, lol!

You have a good point about folks being here who have much experience I can learn from. I plan to stay!