Recovering from Bankruptcy

My wife and I were recently discharged from Bankruptcy and now we have emergency home repairs to do. We had originally borrowed money from a relative and repaid the $1500. Now we are faced with more home related problems and are unable at this point to get a small loan. We have applied to our credit union and other main stream financial institutions are were turned down due to recent BK. Any suggestions?"

My husband and I filed for bk in 07, it was finally discharged in 08, recently I applied for a credit card and told my file was to "thin" and I needed to build my credit. It was recommended to start with personal loans and credit cards. Any advice on who to apply with or if this should be done?"

Great advice from everyone. Blessed to have found this site through a class! Anyway, I'm torn between filing for bankruptcy or just letting the charged-off debt sit ( have about $33,000 in debt-which is mostly my son's student loan @ 21,000)? I know the student loan will not be covered, but the thought of having to wait 7 yrs should CERTAINLY be changed. However, with a score of 603 and high debt ratio, I suppose bankruptcy is evidently the best thing at this point, especially since a 603 score and high debt won't get me any credit anyway.

The catch is of course, I don't have over $1,400 to file! If I do a payment plan, we're talking a higher rate of $1,800! However, with some recent advice, I'll be searching for my local Bar Assoc for some advice on attempting to file myself. Wish me luck!"

I had my debts discharged through chapter 7 bankruptcy in December 2008. I immediately got a credit card through Orchard Bank and got a secured loan with my local credit union. In addition I've had to dispute errors a few times on all my credit reports because some of the discharged debts weren't displaying accurately. I've paid off the loan, and I only have a recurring charge on my credit card (my gym membership) and pay the full amount automatically with my bank's online bill pay. As a result, my credit score has gone up 130 points in one year."

I declared B'ruptcy in 05, and have since obtained three car loans, one credit card, and have been offered several others.....and my credit score is reasonable compaired to some today. But, certain companies tell me I am not a good risk.....which cards do you recommend? And the article was informative, but not very useful. Secured cards cost you an arm and a leg.

They realize, that you have more money available than before and they apply additional fees to try to get all the available money."

We filed Chap 7 in Aug, 2008 and it was discharged in Nov. 2008.

The whole idea of filing bankruptcy is to clear out all debt you just can't pay and to never put yourself in that place again.

Why would anyone go for credit cards and start the spend and charge cycle all over.

We had a motorhome which was killing us financially and now, while we have to work fulltime at 71 and 74 respectively - the last thing we want to do is incur more debt. We are strictly cash, pay our mortgage, the car is paid for and we have learned just how little you need to live well and happy."

A bank won't remove a judgement that was extinguished by my Chap. 7. I sent a correction to the bureau, but they didn't correct it and now say it was investigated previously. What can I do?"

Reaffirming a debt is a stupid move. What you really want to do is, 'Ride Through' it, which means, you just keep making the payments and the lender does not repo the car etc .. yes it is done very frequently. The debt is discharged but the lender really has no choice, and you have no reason to reaffirm a debt."

Not everyone's situation is the same. For example and spouse and I file BK 7 that discharged in 11/08, he totaleed his car that we had not car payment on and I (alone) went to a Ford dealer worked with a special financing manager and got approved for a car loan with a payment of $250.00 that was great. one month later the new car was in a hit and run and totaled...ugh and the same dealer gave me and my spose another new car this was great. My credit score was in the 400's when I first filed now its 560 and I have three credit cards two with Capital One they denied me in Nov 08 my husband got approved he added me to his card and I reappled in 4/08 and got my own and I have a first premier which sucks cause they fee you to death. What I really want to do is move into a bigger house but we have to wait 2 years with FHA I hat that but hopefully it will go through.So to all those who apply for credit (car, credit card) now and get denied apply in a few more months and see what happens you are usually allowed two inquiries before it drops your credit score. And also check your credit report for items that were included in your bankruptcy and not properly noted on your report this can cause a problem also."

my husband and i are separated and we filed chapter 7 bankruptcy and were discharge in april 2008. he was able to buy a car on loan 8 months after the discharge, but i have not been able to get approved for a loan even though i have a lot of money for a down payment.

I was wondering if you pay a loan 12 months in advance will that help your credit."