Hello… almost 4 years post bk.

[Layla55]

Wanted to stop in and update my situation today. Everything is good. I have enough decent credit. No subprime cards. Started with store cards then got capital one, discover, and apple . I just bought probably my last new car. I reaffirmed my car in the BK process and traded that for a Mazda . I got 0.9 for 36 months with a score of 730 . I had substantial equity to be able to do the short term and got the car under MSRP. Just wanted to give encouragement that a BK won’t hurt you to long if you rebuild and pay everything on time . I had never defaulted on a car loan and reaffirming & paying that almost off might have helped auto fico score.
good luck to all just starting this process!

[Carmella]

Congrats! I am happy to hear all is going well for you. That's the light at the end of the Chapter 13 tunnel!

We are less than a year out and unfortunately have a high interest rate credit card, but pay it off every time we use it and we don't use it every month. Our cars have decent interest rates, but not the best.

There is definitely a better life out there after Chapter 13 and at least in my household we are making decisions to avoid any debt.

[BxRcvor]

I'm just about in the same time frame (4 years, come July). This after a Ch 7. I'm getting some credit back but not what I had before. Not that I'd ever want that much. The only thing I haven't recovered yet is the loss of my car. I had to surrender that in the property exchange, along with some cash. So, I've been doing a lot of "delivery services" for day-to-day things like groceries, Amazon, etc. etc. Where I do need to travel, I Uber/Lyft, or I'll rent a car for a day or so. This operation seems to be just a bit less costly than the fuel/insurance/maintenance costs of a car. But the "demand" for auto travel is also reduced. I don't need to go to as many places as I used to.

Maybe I'll need a new car shortly as I've started a new business of late. I'm now a Notary Public in the state of FL. Apparently, the BK hasn't disqualified me on that so... I'll need to be "mobile" to travel to other places. We'll see.

Hang in there, it will get better.